Savaria Announces 2020 Q2 Results
Revenue of $84.7M and Adjusted EBITDA margin at 17.1%
LAVAL, Québec, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS), one of the global leaders in the accessibility industry, is pleased to announce today its results
for the second quarter of fiscal 2020.
Highlights
- Revenue was $84.7M, down $9.3M, or 9.9%;
- Gross profit was $29.3M, down $2.8M, or 8.6%, representing 34.6% of revenue compared to 34.1%;
- Adjusted net earnings stable, coming in at $6.3M, or $0.12 per share on a diluted basis;
- Adjusted EBITDA was $14.5M, up $0.3M or 1.8%.
in thousands of dollars, except per-share amounts and percentages |
Q2 | YTD | ||||
2020 | 2019 | Change | 2020 | 2019 | Change | |
Revenue | $84,668 | $93,992 | (9.9) % | $173,087 | $181,469 | (4.6) % |
Gross profit | $29,269 | $32,040 | (8.6) % | $59,411 | $59,094 | 0.5% |
% of revenue | 34.6% | 34.1% | n/a | 34.3% | 32.6% | n/a |
Adjusted net earnings (1) | $6,257 | $6,207 | 0.8% | $13,437 | $9,877 | 36.0% |
% of revenue | 7.4% | 6.6% | n/a | 7.8% | 5.4% | n/a |
Adjusted net earnings per share (1) | $0.12 | $0.13 | (7.7) % | $0.26 | $0.21 | 23.8 % |
Adjusted EBITDA(1) | $14,470 | $14,217 | 1.8% | $26,827 | $24,748 | 8.4% |
% of revenue | 17.1% | 15.1% | n/a | 15.5% | 13.6% | n/a |
Adjusted EBITDA per share | $0.28 | $0.30 | (6.7) % | $0.53 | $0.53 | - |
(1) Non-IFRS measures are described in the 'Glossary' section of the MD&A |
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