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    IFX   CA4524352099

IMAFLEX INC.

(IFX)
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Imaflex : Reports 2019 Q4 and Fiscal Year Results Provides Business Update

04/20/2020 | 07:22am EST

Imaflex Inc. ('Imaflex' or the 'Corporation') (TSX-V: IFX), announces its consolidated financial results for the fourth quarter (Q4) and fiscal year (FY) ended December 31, 2019 and provides a business update.

All amounts are in Canadian dollars.

'During 2019 our solid line-up of innovative products allowed us to attract and retain customers, albeit at lower than historical sales prices, due to a competitive pricing environment and decreased resin costs,' highlighted Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex. 'Despite this, our revenues, profitability and cash flows remained more than respectable, particularly given the impact of currency on 2019 profitability and the fact that there were very few sales of our high margin citrus film.'

About Imaflex Inc.

Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging space. Concurrently, the Corporation develops and manufactures films for the agriculture industry. The Corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the industrial, agricultural and consumer markets. Headquartered in Montreal, Quebec, Imaflex has manufacturing facilities in Canada and the United States. The Corporation's common stock is listed on the TSX Venture Exchange under the ticker symbol IFX. Additional information is available at www.imaflex.com.

Cautionary Statement on Forward Looking Information

Certain information included in this press release constitutes 'forward-looking' statements within the meaning of Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR at www.sedar.com and on the investor section of the Corporation's website at www.imaflex.com. The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

Contact:

Tel: (514) 935-5710

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 108 M 84,5 M 84,5 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 69,2 M 54,3 M 54,1 M
Capi. / Sales 2021 0,64x
Capi. / Sales 2022 0,67x
Nbr of Employees 218
Free-Float 54,2%
Chart IMAFLEX INC.
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Imaflex Inc. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 1,34 CAD
Average target price 1,75 CAD
Spread / Average Target 30,6%
Managers and Directors
Joseph Abbandonato Chairman, President & Chief Executive Officer
Giancarlo Santella Chief Financial Officer
Gerald R. Phelps Vice President-Operations
Michel Baril Independent Director
Philip Nolan Independent Director
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