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IBI Group Inc T.IBG.DB.E

IBI Group Inc. is a global design and technology company. The Company offers a range of services, including architectural controls, architecture, bridge engineering, civil engineering, construction management, data analytics, design technology, development engineering, economics/financial analysis, electrical engineering, energy solutions, engineering, environmental assessment, geomatics/land surveying, highway and road design, and indigenous engagement and relations. The Company¿s services also include interiors, land use planning, landscape architecture, mechanical engineering, municipal infrastructure, operations and maintenance, parametric design, placemaking, planning and urban design, public outreach, research and development, software development, systems engineering, traffic engineering, transit planning, transportation engineering, visualization, water resources management, and water/wastewater. The Company has over 60 offices in major urban centers across the globe.


TSX:IBG.DB.E - Post by User

Bullboard Posts
Post by Calgaryrideron May 10, 2017 7:31pm
195 Views
Post# 26228830

Earnings out

Earnings outStill pulling 10%+ EBITDA margins (the envy of the industry)....generally, very good.

The UK market, though still small, appears to be challenging still.  As in, ex-UK, the rest of IBI would have EBITDA margins in the 14-15% range which is absolutely outstanding.

At this pace they should consider cutting jib and selling s few unproductive offices there.  
I'm sure an analyst will bring up this idea tomorrow.  WIth interest payments now $2.7M per quarter they could put the funds towards either debt repayment (which is unnecessary), a one time dividend, towards sustained dividends and/ or even share buybacks.  Any of these strategies will yield handsome returns for shareholders......much more than offices that bleed cash. 
The question really is, how much of the healthcare design competency resides in those uk offices?
my feeling is, a decent bit.

anyways, good and steady quarter.  
Rock on, but fix the UK.


Bullboard Posts