Savaria Announces 2020 Q1 Results

Revenue stood at $88.4M and Adjusted EBITDA at $12.4M, up 17.3% - Seite 2

“While the majority of people want to stay in their own homes as long as possible, COVID-19 has perhaps reinforced the desire for people to seek ways of making their homes accessible or more suitable for home medical care. To this end, we have adopted a new campaign, “Stay at home with Savaria”, to promote our full portfolio of products, including stairlifts, home elevators, adapted vehicles, patient lifts, slings, medical beds and therapeutic surfaces. More than ever, as seniors and their family members look for solutions for aging in place, they can turn to Savaria.

“On March 20^th, in light of COVID-19 challenges, we provided a $1,000 bonus to our 1,450 employees. Worldwide, all ten of our factories are open for business and I wish to thank the incredible commitment of our employees for continuing to serve our clients during these unprecedented times,” concluded Mr. Bourassa.

Outlook 2020

Providing a full year outlook in the midst of the current COVID-19 pandemic remains challenging. However, given the Corporation’s financial liquidity and strong balance sheet, we believe our post pandemic future bodes well, as our product offering is aligned with demographics.

About Savaria Corporation

Savaria Corporation (savaria.com) is one of the global leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients. In addition, Savaria converts and adapts vehicles to be wheelchair accessible. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (Switzerland, Germany, Italy, Czech Republic, Poland and United Kingdom), Australia and China. Savaria employs approximately 1,450 people globally and its plants are located across Canada in Laval and Magog (Québec), Brampton, Beamsville and Toronto (Ontario) and Surrey (British Columbia), in the United States at Greenville (South Carolina), in Huizhou (China), in Milan (Italy) and in Newton Abbot (United Kingdom).