Bullboard - Stock Discussion Forum Dexterra Group Inc HZNOF

Primary Symbol: T.DXT

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Dexterra Group Inc. is a Canada-based company, which is engaged in delivering a range of support services for the creation, management, and operation of infrastructure across Canada. The Company operates through four segments: Integrated Facilities Management (IFM), Workforce Accommodations, Forestry and Energy Services (WAFES), and Modular Solutions. The Company's IFM business delivers a suite... see more

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TSX:DXT - Post Discussion

Dexterra Group Inc > Result highlights - divy declared

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Post by 2021Gamble on Mar 09, 2023 6:17am

Result highlights - divy declared

Dexterra Group Inc. Announces Results for Q4 and Year Ended December 31, 2022 and Declares Dividend

08 Mar 202317:41 ET

Newsfile Corp

Toronto, Ontario--(Newsfile Corp. - March 8, 2023) - Dexterra Group Inc. (TSX: DXT)

Highlights

Consolidated revenue totaled $971.5 million (Q4 2022 - $253.9 million) for 2022 compared to $733.4 million in the prior year (Q4 2021 - $201.6 million), an increase of 32%. The increase in revenue is largely attributed to the continued growth in IFM and WAFES, including additional revenue of $108.3 million (Q4 2022 - $33.0 million) generated by the acquisitions of FCPI Dana Investments Inc. ("Dana") and the Tricom Group ("Tricom") businesses or collectively the "2022 IFM Acquisitions";
The Corporation's Adjusted EBITDA for 2022 was $64.7 million (2021 - $80.8 million) and $14.0 million in Q4 2022 (Q4 2021 - $18.1 million). This decrease related to inflationary pressures of approximately $20 million during the year ended December 31, 2022 primarily on fixed price contracts on social affordable housing projects in the Modular Solutions business which included a special provision in Q4 2022 of approximately $8 million to cover expected cost escalation and future losses on projects to be completed in 2023. This was partially offset by strong WAFES results;
The Corporation reported consolidated net earnings of $3.7 million for 2022 (Q4 2022 - net loss of $2.9 million) which included non-recurring items of $12.1 million (Q4 2022 - $7.0 million) which are described below;
On December 2, 2022, the Corporation signed an agreement to acquire all outstanding shares of VCI Controls Inc. ("VCI"). The acquisition closed on January 31, 2023 and expands the existing IFM service offering to include building automation controls and energy efficiency solutions; and
Dexterra declared a dividend for the first quarter of 2023 of $0.0875 per share payable to shareholders of record at the close of business on March 31, 2023 which will be paid on April 17, 2023.