ST. ALBERT, Alberta, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Enterprise Group, Inc. (“Enterprise,” or “the Company”) (TSX:E), a
consolidator of services to the energy sector focused primarily on construction services and specialized equipment rental, today
released its Q4 2017 and FY2017 results. (Table below).
Key investment metrics evidencing ongoing growth:
- Q4 2017 revenue $10.7m versus Q4 2016 at $8.3m
- EBITDA Q4 2017 $2.56m versus Q4 2016 $1.87m
- Net Income Q4 2017 $1.1m versus Q4 2016 loss ($9.9m)
- EPS Q4 2017 $0.02 versus Q4 2016 loss ($0.18)
Consolidated:(1) |
Three months December 31, 2017 |
Three months December 31, 2016 |
Year ended December 31, 2017 |
Year ended December 31, 2016 |
Revenue |
$ |
10,687,760 |
|
$ |
8,326,646 |
|
$ |
37,667,118 |
|
$ |
28,723,585 |
|
Gross margin |
$ |
2,870,702 |
|
$ |
2,415,477 |
|
$ |
9,524,333 |
|
$ |
6,828,782 |
|
Gross margin % |
|
27 |
% |
|
29 |
% |
|
25 |
% |
|
24 |
% |
EBITDA |
$ |
2,563,045 |
|
$ |
1,872,760 |
|
$ |
6,990,897 |
|
$ |
3,851,894 |
|
Net income (loss) and comprehensive income (loss) |
$ |
1,094,583 |
|
($ |
9,920,464 |
) |
($ |
214,414 |
) |
($ |
13,165,040 |
) |
EPS |
$ |
0.02 |
|
($ |
0.18 |
) |
$ |
0.00 |
|
($ |
0.24 |
) |
(1) The Company’s annual yearend audit is currently under way however it has not yet been completed. The financial
figures presented in this release are reported in Canadian dollars, have been prepared in accordance with International Financial
Reporting Standards and are subject to audit verification and adjustments. The Company expects to release
its audited consolidated yearend financial statements and MD&A no later than March 29, 2018.
“While the business landscape has, and continues to improve, we are maintaining our posture of rationalizing
costs and enhancing efficiencies,” stated Desmond O’Kell, Senior Vice President. “With a positive Q4 2017 EPS over the same period
in 2016 and showing significant increases in revenues and EBITDA for the same period, we look forward to a very active and
profitable 2018.”
Throughout 2017, Enterprise has experienced a meaningful increase in activity from its existing customers
coupled with a substantial surge in new customers, which has resulted in increased market share for its four business units.
Management’s efforts to streamline and maximize efficiencies have translated into improved margins, positive cash-flow quarter
after quarter and a strong return to profitability.
In the second half of 2017 the Company returned to profitability. Q3 and Q4 2017 delivered EPS of $0.01 and
$0.02 respectively, while prior to this period the Company maintained positive cashflow through the challenging downturn that began
2014-2015.
Previously released: On January 8th, 2018, Enterprise announced that it had secured
a one-year rental equipment supply and services agreement valued at C$9.1 million with one of Canada’s largest energy producers
focused on growing its strong portfolio of diverse resource plays.
For questions or additional information, please contact:
Leonard Jaroszuk, President & CEO, or
Desmond O’Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Forward Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to
future events or the Company’s future performance. The use of any of the words "could", "expect", "believe", "will", "projected",
"estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with
securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and
other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any
intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as may be expressly required by applicable securities laws.
Non-IFRS Measures
The Company uses International Financial Reporting Standards (“IFRS”). EBITDA/EBITDAS is not a measure that has
any standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS measure. This news release contains
references to EBITDA/EBITDAS. This non-IFRS measure used by the Company may not be comparable to a similar measure used by
other companies. Management believes that in addition to net income, EBITDA/EBITDAS is a useful supplemental measure as it
provides an indication of the results generated by the Company’s principal business activities prior to consideration of how those
activities are financed or how the results are taxed. EBITDA/EBITDAS is calculated as net income excluding depreciation,
amortization, interest, taxes and stock based compensation.
![](http://www.globenewswire.com/newsroom/ti?ndecode=NzA2NDAjNzEyMDc1Ng==)