GDI Integrated Facility Services Inc T.GDI

Alternate Symbol(s): GDIFF

Industrials

GDI Integrated Facility Services Inc. is an integrated commercial facility services provider. The Company’s segments include Business Services Canada, Business Services USA and Technical Services. The Business Services Canada and Business Services USA segments provide a wide range of basic cleaning services, such as floor cleaning and finishing, window washing, furniture polishing, carpet cleaning and dusting, as well as other building services including lawn maintenance, snow removal and others. The facilities served comprise office properties, shopping centers, industrial and institutional buildings, educational facilities, health care centers, airports and others in Canada and in the United States. The Technical Services segment provides building system controls, mechanical maintenance and services in relation to heating, ventilation, air conditioning, electrical energy engineering service offering and energy performance optimization, cabling for data transport and others.

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GDI Integrated Facility Services Inc

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Post by Betteryear2on Nov 10, 2021 6:30pm

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Financial Results for the Third Quarter

Q3 2021 revenue of $408.4 million – an increase $43.0 million, or 11.8%, over Q3 2020.
Q3 2021 Adjusted EBITDA1 of $32.7 million – an increase of $2.5 million, or 8.4%, over Q3 2020.
Q3 2021 net income of $9.4 million or $0.41 per share compared with $13.2 million or $0.59 per share in the third quarter of 2020.
Two acquisitions completed in the quarter: Enginuity, LLC, and Fuller Industries, LLC.

LASALLE, QC, Nov. 10, 2021 /CNW Telbec/ - GDI Integrated Facility Services Inc. ("GDI" or the "Company") (TSX:GDI) is pleased to announce its financial results for its third quarter ended September 30, 2021.

For the third quarter of 2021:

Revenue reached $408.4 million, an increase of $43.0 million, or 11.8%, over the third quarter of 2020. Organic revenue growth was 2.9%, growth from acquisitions was 10.2%, and revenue growth was partially offset by a negative exchange rate effect of 1.3%.
Adjusted EBITDA1 amounted to $32.7 million, an increase of $2.5 million, or 8.4%, over the third quarter of 2020.
Net income was $9.4 million or $0.41 per share compared to $13.2 million or $0.59 per share in Q3 2020.
Long-term debt increased by $15.8 million from $177.0 million on June 30, 2021 to $192.8 million on September 30, 2021, while cash, net of bank indebtedness, decreased by $18.6 million over the same period, totalling to a $34.4 million increase in long-term debt, net of cash and bank indebtedness. This increase is mainly related to the Enginuity and Fuller acquisitions, which accounted for an increase of $43.2 million of long-term debt.