CEMATRIX Management Perspectives Uniquely Positioned For 2023 And Beyond

CALGARY, Alberta, May 02, 2023 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) (“CEMATRIX” or the “Company”) a North American leading manufacturer and supplier of technologically advanced cellular concrete products, is today providing a detailed overview of anticipated activity throughout 2023 due to the strength of the Company’s positioning early in the year.

In the words of President and CEO Jeff Kendrick, “This is the first time in the Company’s history that we sit early in a year with a portfolio that is composed of a number of larger projects, which is a significant change compared to year’s past.

One of those larger projects is the $21.2 million North Carolina freeway construction project, which was originally scheduled to commence in 2020. While just under 20% of this project will go into the ground in 2023, it will still generate $3.6 million in revenues this year. The balance of the project is scheduled to be completed next year which speaks to a strong start to 2024.

Importantly, improved economics will be realized on these larger projects as being on site for longer periods of time generates additional savings and enhanced margins due to reduced mobilization and demobilization, labor efficiencies and reliability of cement supply.”

Unlike past year’s where the Company derived revenues from a large number of smaller projects, the majority being less than $1 million in scope, 2023 sees CEMATRIX with signed contracts in the amount of $51.4 million of which, $28.6 million is already scheduled to be placed in 2023.

“Although 2022 was a record year for sales for CEMATRIX,” continued Mr. Kendrick, “The Company completed only 7 projects over $1 million for a total of $15.5 million. The remainder of that year’s activity came from numerous projects that were a few thousand dollars to $1 million in size.”

“I’m very pleased to say that 2023 is quite different than any year since the Company’s inception in 1999, in that it has contracts/contracts in process for eleven projects alone, from which approximately $24.3 million in revenues is scheduled to be realized before the end of the fiscal year. In addition, projects totalling $11.7 million in contracts/contracts in process which are individually less than $1.0 million each are also scheduled to be processed and placed in 2023. Furthermore, we expect to continue to build on this number during the year. Our current scheduled level of contracted/contracts in process sales totalling approximately $36 million to date has not happened in the past and this forecast is already 24% ahead of last years total sales of $29 million. This is why we wish to share this information with our shareholders.”