In This Article:
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Consolidated Revenue: Increased by 6% to $129.8 million, or 2% on a constant currency basis.
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Gross Profit: Up almost 4% to $35.6 million.
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Adjusted EBITDA: Increased to $19.7 million, up from $6.7 million.
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Net Earnings: $400,000, up from a loss of $4.5 million.
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Earnings Per Share (EPS): $0.55, primarily due to a $53.8 million net gain from a substantial issuer bid.
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Bozzetto Revenue: $89.1 million, up from $88.1 million; adjusted EBITDA of $17 million with a margin of 19.1%.
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Cortland Revenue: Grew by almost 20% to $40.7 million; adjusted EBITDA grew by 35% to $5.4 million with a margin of 13.3%.
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Cash Position: Ended the first quarter with $94.7 million of cash, down slightly from $95.4 million at the end of 2024.
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Cash Flow from Operations: Generated $12.2 million.
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Holdco Costs: Reduced by $10.1 million; planned to be below $11 million for 2025.
Release Date: May 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Aimia Inc (AIMFF) reported a significant increase in adjusted EBITDA, rising from $6.7 million to $19.7 million.
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The company achieved a net earnings turnaround, reporting $400,000 compared to a loss of $4.5 million in the previous year.
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Aimia Inc (AIMFF) successfully reduced Holdco costs by $10.1 million, contributing to improved financial performance.
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The company generated a substantial gain of $53.8 million from a substantial issuer bid, boosting earnings per share to $0.55.
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Core holdings, Bozzetto and Cortland, showed strong performance with Bozzetto achieving a 19.1% EBITDA margin and Cortland growing revenue by 20%.
Negative Points
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Aimia Inc (AIMFF) shares are trading at a discount relative to the intrinsic value of its assets, which the company aims to address.
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The company faces challenges in utilizing its $1 billion of tax loss carryforwards effectively.
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Bozzetto experienced a 2% revenue decline on a constant currency basis due to lower volume in the Textile Solutions sector.
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The company is still in the early stages of addressing the impacts of tariffs on its core holdings, which could affect future performance.
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Aimia Inc (AIMFF) needs to further reduce Holdco costs and close the share price discount to achieve its strategic goals.
Q & A Highlights
Q: Rhys, can you provide more color on your strategic update and thoughts on the future of the Holdco? Is there potential for a sale of core assets? A: Rhys Summerton, Executive Chairman: Our primary focus is on reducing Holdco costs significantly. Once we achieve that and close the discount to NAV, we can consider capital allocation decisions. We are advancing quickly in determining market value for our assets and will report any material developments.