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CEMATRIX Corp T.CEMX

Alternate Symbol(s):  CTXXF

CEMATRIX Corporation is a Canada-based company, which manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. It is engaged in the supply and placement of cellular concrete. The Company’s cement-based material with thermal protection, which delivers a range of problems facing the infrastructure, industrial, energy and commercial markets. It supplies and installs lightweight cellular concrete with a cast density as low as 400 kg/m3. Its cellular concrete is commonly used as an insulation material for oil and gas facility slabs, roadways, shallow utilities and contaminated site remediation that requires ground heating. Its applications include retaining wall and bridge approach backfill, roadways and runways, and slope stabilization. Its wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (CCI), MixOnSite USA Inc. and Pacific International Grout Company.


TSX:CEMX - Post by User

Post by Tan4646on Apr 20, 2022 10:12am
202 Views
Post# 34616169

review of md&a..... Regions are opening up

review of md&a..... Regions are opening upCanadian Business Recovers

The Company experienced a sales recovery in Canada as a number of the projects that were delayed from 2020 were executed in 2021. We also increased sales in newer markets for the Company in Canada, adding momentum to our regional expansion efforts. Sales in Canada were $9.5 million in 2021 versus $5.1 million in 2020, which was an increase of 85%. Based on continued organic growth in the Canadian market and the reduced impact of COVID compared to prior years, we expect 2022 revenue in Canada to be continue to grow.

US Business Impacted by Project Delays and Project Timing

Unfortunately, our US sales declined in 2021 versus 2020 due primarily to the delay in the North Carolina DOT project. The timing of tunnel projects in backlog also contributed to reduced sales in the U.S. There are numerous large tunnel grouting projects in our backlog, but most are not scheduled to be completed until 2022 and beyond. Sales in the US were $13.1 million in 2021 versus $21.4 million in 2020, which was an decrease of 39%. We expect 2022 revenue to rebound back to or above 2020 revenue levels due to the current projected timing of several projects in backlog and the reduced impact of COVID compared to prior years.
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