Mattr Corp T.MATR

Alternate Symbol(s): MTTRF

Energy Oil & Gas Equipment & Services

Mattr Corp., formerly Shawcor Ltd., is a global material technology company serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. The Company operates through a network of fixed and mobile manufacturing and service facilities. The Company operates through two business segments: Composite Technologies and Connection Technologies. Composite Technologies segment consist of two operating units: the Xerxes business, which manufactures fiberglass reinforced plastic underground storage tanks primarily for the retail fuel, storm water and wastewater markets; and the FlexPipe business, which manufactures flexible fiberglass reinforced composite pipe used for oil and gas gathering and water disposal lines and carbon dioxide injection lines. Connection Technologies segment supplies specialty wire and cable and integrated heat shrink solutions.

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Mattr Corp

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Post by Possibleidiot01on May 11, 2023 6:42pm

220 Views

Post# 35444309

Q1

It all seems good as in

"On a consolidated basis, the Company more than doubled Adjusted EBITDA margins ¹ compared to the first quarter of last year,” said Mike Reeves, President & CEO of Shawcor."

Lowest division growth rate - automotive was 19%.

A $25 million repayment was made on the Credit Facility (as defined herein). As at March 31, 2023, the Company had total net debt of $87 million and a Net debt-to-EBITDA ¹ ratio (using a trailing twelve-month Adjusted EBITDA ¹ ) of approximately 0.46 times;
The Company remained active under its Normal Course Issuer Bid (“NCIB”), repurchasing 626,000 of its common shares during the quarter for an aggregate repurchase price of $8 million; and
The composition for Adjusted EBITDA has been adjusted as noted in Section 5.0 – Reconciliation of Non-GAAP Measures to include adjustments for share-based incentive compensation cost and foreign exchange (gain) loss.