Ag Growth Announces Third Quarter 2017 Results; Declares Dividends

WINNIPEG, Nov. 10, 2017

Overview of Results

(thousands of dollars except per share amounts)	Three Months Ended September 30		Nine Months Ended September 30
	2017	2016 ARIVA.DE Börsen-Geflüster Kurse Growth International 41,60 € -0,48%	2017	2016
Trade sales (1)(2)	205,666	162,970	582,596	420,186
Adjusted EBITDA (1)(2)(3)	36,081	36,291	102,082	82,081
Profit	15,588	13,034	35,464	24,016
Diluted profit per share	$0.92	$0.85	$2.18	$1.61
Adjusted profit (1)	12,984	17,365	34,598	32,667
Diluted adjusted profit per share (1)(4)	$0.79	$1.08	$2.14	$2.18

Trade sales in Q3 2017 increased significantly over the prior year as improved demand for portable equipment in the U.S. Farm market and contributions from acquisitions more than offset a decrease in Commercial sales that resulted in part from the timing of customer deliveries. Higher trade sales did not translate into higher adjusted EBITDA due to a negative EBITDA contribution from AGI's Brazilian operations and because EBITDA margins at recently acquired divisions, though in line with management expectations, do not yet reflect the full impact of realized purchasing and personnel synergies and ongoing margin improvement initiatives. As a result, adjusted EBITDA in Q3 fell slightly below the very strong 2016 comparative. Adjusted profit declined from 2016, the result of higher interest and depreciation expenses, while profit and profit per share in Q3 increased over 2016 as lower adjusted profit was more than offset by a gain on foreign exchange in 2017, compared against a loss in 2016.

"We saw solid performance in our legacy farm businesses, with strong sales and margins year over year." said Tim Close, President and CEO of AGI. "Our Commercial businesses have strong momentum, however sales were lower in the quarter due to timing of projects. Overall margins were lower on a blended basis due to our project in Brazil and the impact of recently acquired businesses, however we are confident that our integration work and strategies in place will turn these margins around in the near term. Overall performance YTD shows significant progress in all parts of AGI as we head through the end of 2017 and into 2018."

Diluted profit per share and diluted adjusted profit per share

A reconciliation of profit and diluted adjusted profit per share to adjusted profit and adjusted diluted profit per share is below.

	Three Months Ended September 30		Nine Months Ended September 30
(thousands of dollars)	2017	2016	2017	2016
Profit from continuing operations before income taxes	20,255	18,617	49,472	33,472
Finance costs	9,284	6,058	24,736	17,944
Depreciation and amortization	7,594	5,530	22,306	16,939
EBITDA (1)	37,133	30,205	96,514	68,355
Loss (gain) on foreign exchange	(8,453)	4,560	(13,069)	7,138
Share based compensation	1,552	1,755	6,434	5,075
Loss (gain) on financial instruments (2)	2,255	(1,735)	(346)	(5,160)
M&A expenses (3)	1,620	1,374	7,832 Werbung Mehr Nachrichten zur Growth International Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:56 - PR Newswire Samson Rock Capital LLP - Form 8.3 - TClarke Plc 08:56 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Accrol Group Holdings plc SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59