Summary
- The Corporation had revenues of
$13.4M for the 3 months period (297% increase from$3.4M for Q1-2020) attributable to the consolidation of the Code Bleu acquisition, and organic growth from all business units. - The increase in the average gross margin to 28.5% (26.2% for Q1-2020) resulted from a more efficient geographical distribution of services rendered.
- The EBITDA(1) increased to
$1.3M (512% increase from$215,545 for Q1-2020). - Net income was
$715,645 compared to$136,493 for the same period in 2020. - The Corporation completed a
$7,486,500 bought deal offering subsequently toDecember 31, 2020 .
“The first quarter of 2021 has set the pace for the reminder of FY2021.” Said
First Quarter 2021 Results Highlights
(3 months) | (3 months) | |||||
Revenues | $13,360,309 | $3,364,158 | ||||
From last period | +297 | % | ||||
Gross margin | $3,803,468 | $884,605 | ||||
From last period | +330 | % | ||||
EBITDA (1) | $1,318,718 | $215,545 | ||||
From last period | +512 | % | ||||
Net Income | $715,645 | $136,493 | ||||
From last period | +424 | % |
(1) Adjusted EBITDA before non-recurring items
Business Highlights
- The integration of the Code Bleu acquisition is proceeding as planned.
- The Corporation provided over 200,000 hours of services during the quarter.
- The Nordik business unit represented 24% of Premier Health’s revenues and had an increasingly positive impact on the Corporation’s average gross margin.
- Work protocols are adapting to COVID-19 and management at healthcare networks are gradually realizing that a better integration of public infrastructure and private solutions enables a better continuity of service to the population.
Financing Highlights
- The Corporation issued an aggregate of 7,130,000 common shares at a price of $1.05 per share for aggregate gross proceeds of
$7,486,500 on a bought deal basis onFebruary 22, 2021 .
Completion of Code Bleu Acquisition
About
Non-GAAP Measures
Earnings before interest, taxes, depreciation and amortization (“EBITDA”), is calculated as the net profit (loss), before non-recurring items such as acquisition and transaction costs, non-cash expenses (including loss from disposal of assets, impairments, amortization and depreciation), interest expense, net of interest income and income tax expense.
For Further Information Please Contact:
Mr.
Vice-President, Corporate Development
jrpronovost@premierhealth.ca / 1 800 231 9916
Neither
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.
Source:
2021 GlobeNewswire, Inc., source