CAMBRIDGE, ON, Nov. 3, 2021 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today reported its financial results for the three and six months ended September 26, 2021.
Second quarter highlights:
- Revenues increased 55.6% year over year to $522.1 million.
- Earnings from operations1 were $55.4 million (10.6% operating margin), compared to $23.4 million (7.0% operating margin) a year ago. Adjusted earnings from operations1 were $70.7 million (13.5% margin), compared to $40.1 million (12.0% margin) a year ago.
- EBITDA1 was $81.2 million (15.6% EBITDA margin), compared to $41.5 million (12.4% EBITDA margin) a year ago. Adjusted EBITDA1 was $83.3 million (16.0% adjusted EBITDA margin), compared to $49.6 million (14.8% adjusted EBITDA margin) a year ago.
- Earnings per share were 41 cents basic and diluted compared to 13 cents a year ago.
- Adjusted basic earnings per share1 were 53 cents compared to 26 cents a year ago.
- Order Bookings1 were $510 million, 26.6% higher compared to $403 million a year ago.
- Order Backlog1 increased 35.5% to $1,295 million at September 26, 2021 compared to $956 million a year ago.
"The second quarter featured strong operational results including organic revenue growth, acquisition contributions from CFT and BioDot, margin expansion in line with our plan, solid Order Bookings and record Order Backlog," said Andrew Hider, Chief Executive Officer. "With our Order Backlog providing good revenue visibility, a healthy balance sheet in place to support growth, and our talented and committed workforce pursuing continuous improvement through our ABM, ATS is well positioned to continue creating value."
Year-to-date highlights:
- Revenues increased 56.4% year over year to $1,032.7 million.
- Earnings from operations1 were $107.3 million (10.4% operating margin), compared to $44.5 million (6.7% operating margin) in the prior year. Adjusted earnings from operations1 were $136.1 million (13.2% margin), compared to $69.8 million (10.6% margin) in the prior year.
- EBITDA1 was $157.0 million (15.2% EBITDA margin), compared to $80.7 million (12.2% EBITDA margin) in the prior year. Adjusted EBITDA1 was $161.2 million (15.6% adjusted EBITDA margin), compared to $88.8 million (13.4% adjusted EBITDA margin) a year ago.
- Earnings per share was 78 cents basic and diluted compared to 23 cents in the prior year.
- Adjusted basic earnings per share1 were $1.01 compared to 43 cents a year ago.
- Order Bookings1 were $1,146 million, compared to $728 million a year ago.
Mr. Hider added, "During the quarter, we made acquisitions that strengthen our consulting capabilities in process engineering, enhance our digital offerings, expand our portfolio of precision conveyor technologies and reinforce our position in the food and beverage end-market. We welcome BLSG and NCC to the ATS family. We also entered into an agreement to acquire DF S.r.l. and made good progress with the integration of CFT by rolling out the ATS Business Model and firming up supply chain and cost structure synergies opportunities. Organically, ongoing investments in innovation and product development are furthering our build, grow and expand value creation strategy."