GDI Integrated Facility Services Inc T.GDI

Financial Results for the Third Quarter

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• 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.