CEMATRIX Announces $5.9 Million in New Contracts, Backlog Continues to Grow to $95.7 Million

CALGARY, Alberta, June 06, 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 pleased to announce it has executed $5.9 million in new contracts to bring total contracts announced since the end of the fiscal year to $21.7 million and $58.3 million since August 3, 2022.

$38.2 million of the current backlog is scheduled for 2023. $34 million of the 2023 backlog is contracted and a portion of these contracts have already been placed in 2023. To date, the current backlog already represents a 31.7% increase compared to total sales for 2022, an increase that will continue to rise as new contracts are announced and completed for the remainder of 2023.

The Corporation’s backlog has increased to $95.7 million, a 19.8% increase compared to the sales adjusted backlog of $79.6 million as of December 31, 2022. $47.8 million of the Corporation’s current backlog is now Contracted and $47.9 million is Contracts in Process.

“The $5.9 million in contracts executed since our last contract announcement includes a $1.3 million tunnel grouting project in the Gulf States and a $1.2 million bridge backfill project in the Northwest U.S. The balance of the new contracts included in this announcement are for various types of infrastructure applications across North America with price tags below $1 million,” stated Jeff Kendrick, CEMATRIX President and CEO. “Furthermore, our backlog now includes a 12^th project in excess of $1 million that is scheduled for full or partial completion in 2023 bringing the total expected 2023 sales related to projects in excess of $1 million to $26.1 million. The new addition to $1 million plus contract and contracts in process relates to a larger $3.7 million overpass/structural wall panel backfill project which is scheduled to be commenced before the end of the year and carry on into 2024. Although our backlog continues to be realized, the continued organic growth of the North American market is not only sustaining our backlog, but in fact growing it. After deducting sales, our backlog to the end of April is now 229% of last year’s sales and this is supported by our sales pipeline which has grown to more than $440 million.”