2022) APHWF

Consumer Defensive Household & Personal Products

Based in Ontario Canada the Apollo Healthcare Corp Apollo is one of the largest private label personal care product manufacturers in North America developing and manufacturing retailer branded and private label products for major North American retailers. Apollos products are sold in tens of thousands of stores across North America and its customer base spans across major North American... see more

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OTCPK:APHWF - Post Discussion

Apollo Healthcare Corp Warrants (03/01/2022) > Second Quarter of 2021 Results

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Post by Betteryear2 on Aug 13, 2021 5:00pm

Second Quarter of 2021 Results

Apollo Healthcare Corp. (TSX: AHC, OTC QX: AHCCF) (“Apollo” or the “Company”) today announced financial results for the second quarter ended June 30, 2021.

The Company’s unaudited interim financial statements for the three and six months ended June 30, 2021, as well as its accompanying management discussion and analysis (MD&A) have been filed on SEDAR. Copies of the filings may be obtained at www.sedar.com. All values in this news release and the Company’s financial disclosures are in Canadian dollars unless otherwise stated.

Highlights

Revenues were $33.9 million and $97.8 million and EBITDA was $10 million and $26.8 million in the three and six months ended June 30, 2021, respectively. Demand for product is normalizing to historically elevated levels and is expected to accelerate into fiscal 2022.
Adjusted EBITDA of $10.4 million and $27.8 million in the three and six months ended June 30, 2021. Adjusted EBITDA removes the effects of foreign exchange and changes in fair value of financial instruments.
The Company is focused on global expansion through its best in class operational efficiencies, its innovative product pipeline, and its reliable and sustainable supply chain leadership which are foundational to its client support and service excellence.
The Company is debt free, had cash of $39.5 million at June 30, 2021 quarter-end and has access to a $50 million revolver from its commercial bank which may be utilized for any corporate development or operational initiatives.
The Company is actively pursuing strategic acquisitions that are accretive to shareholder value and that are complementary to its organic growth strategies. Apollo has retained a global leading advisory firm to progress this objective.
The Board has approved the Company applying to the TSX to renew its normal course issuer bid to purchase and cancel up to 3.6 million shares which represents 5% of the current issued and outstanding shares. The Company has already acquired 326,212 shares at an average price of $3.49 under its previous normal course issuer bid which expired in July 2021.