Black Diamond Group Ltd T.BDI

Alternate Symbol(s): BDIMF

Industrials

Black Diamond Group Limited is a specialty rentals and industrial services company. The Company owns a portfolio of businesses that solve the space, accommodation and travel needs of organizations around the globe. Its segments include Modular Space Solutions (MSS) and Workforce Solutions (WFS). The MSS segment, through its brands, BOXX Modular, Britco, MPA, Schiavi and CL Martin, owns a rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service, and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors. The WFS segment, through its brands, Black Diamond Camps and Black Diamond Energy Services, owns a rental fleet of modular accommodation assets of all types and sizes. It also includes its wholly owned subsidiary, LodgeLink, which operates a digital marketplace for business-to-business crew accommodation, travel, and logistics in North America.

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Black Diamond Group Ltd

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Post by TimeBuilderon Aug 05, 2022 3:13pm

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Post# 34874989

Q 2 Highlights/Dividend :>))

Key Highlights from the Second Quarter of 2022

Generated consolidated rental revenue of $28.4 million and Adjusted EBITDA¹ of $18.2 million, up 22% and 34%, respectively, from the Comparative Quarter, while consolidated revenue was $69.4 million, up 1% from the Comparative Quarter.

Profit for the Quarter was $4.0 million, up 208% from the Comparative Quarter, resulting in a 79% increase in Free Cashflow¹ to $14.5 million and yielding basic earnings per share of $0.07, up 250% from the Comparative Quarter.

Long term debt at the end of the Quarter was $163.9 million resulting in Net Debt¹ of $157.5 million and Net Debt to trailing twelve month ("TTM") Adjusted Leverage EBITDA¹ of 2.1 (within the Company's target range of 2 to 3 times), and available liquidity of $110.7 million.

Modular Space Solutions ("MSS") rental revenue was $17.5 million, up 20% from the Comparative Quarter, while total revenue of $37.1 million was steady. Adjusted EBITDA of $12.8 million increased 20% from the Comparative Quarter.

MSS rental fleet increased 424 net units or 5% from the Comparative Quarter, driven by organic expansion and the fleet acquisition of Cambrian Trailer Rentals Ltd.

On a constant currency basis, MSS average rental rates increased 11% from the Comparative Quarter, while MSS contracted future rental revenue for the Quarter was $54.8 million, up 24% from the Comparative Quarter.

Workforce Solutions ("WFS") rental revenue of $10.9 million and total revenue of $32.3 million increased 27% and 2% respectively from the Comparative Quarter. Adjusted EBITDA of $10.0 million increased 61% from the Comparative Quarter, resulting in Return on Assets¹ of 28%, up 65% from the Comparative Quarter.

Consolidated Return on Assets for the Quarter was 17%, up 31% from the Comparative Quarter.

LodgeLink recorded 68,412 room nights booked in the Quarter, a 58% increase from the Comparative Quarter.

In the Quarter, the Company allocated $4.0 million to shareholder returns and the reduction of non-controlling interests through a combination of $0.9 million of common shares repurchased under the normal course issuer bid ("NCIB"), $0.9 million of dividends declared to common shareholders, and the redemption of $2.2 million of preferred shares of a subsidiary company.

Subsequent to the end of the Quarter, the Company declared a third quarter dividend of $0.015 payable on or about October 15, 2022 to shareholders of record on September 30, 2022

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