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Montag, 14.08.2017 20:25 von PR Newswire | Aufrufe: 57

Mosaic Capital Corporation Announces Second Quarter 2017 Earnings

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Canada NewsWire

CALGARY, Aug. 14, 2017

CALGARY, Aug. 14, 2017 /CNW/ - Mosaic Capital Corporation ("Mosaic" or the "Company") (TSX–V Symbols: M and M.DB) has released its financial results for the three and six months ended June 30, 2017. The Company's financial statements and management's discussion and analysis for the three and six months ended June 30, 2017 can be accessed under Mosaic's profile on SEDAR at www.sedar.com and on the Company's website at www.mosaiccapitalcorp.com.

Selected Highlights

3 Months Ended June 30

6 Months Ended June 30

All amounts are in thousands except %

2017

2016

ARIVA.DE Börsen-Geflüster

Kurse

EMM ENERGY INC

0,00%

Mosaic Capital

0,00%

%
Change

2017

2016

%
Change

Revenue

$69,726

$48,270

44%

$127,835

$88,514

44%

Adjusted EBITDA ⁽¹⁾

$5,350

$5,175

$10,612

$10,127

Operating Income

$1,290

$3,167

(59%)

$3,563

$6,371

(44%)

Cash Flow Prior to Changes in Non-cash Working Capital

$3,699

$5,279

(30%)

$7,868

$9,781

(20%)

Free Cash Flow ⁽¹⁾

$1,695

$3,548

(52%)

$3,983

$6,489

(39%)

Increase (Decrease) In Free Cash Flow per Share (Fully Diluted)

(85%)

(82%)

Net Income and Comprehensive Income Attributable to Shareholders

$6,515

$2,201

196%

$6,575

$4,205

56%

Preferred Distribution Payout Ratio ⁽¹⁾

88%

91%

100%

101%

Combined Payout Ratio ⁽¹⁾

154%

115%

155%

127%

Note:

These non-IFRS financial measures do not have any standardized meaning under IFRS, may not be comparable to similar measures presented by other issuers and are defined and reconciled to their most directly comparable IFRS measure within our Management's Discussion and Analysis for the three and six months ended June 30, 2017 under the sections "Non-IFRS Financial Measures" and "Reconciliation of Non-IFRS Financial Measures", which document is available electronically at www.sedar.com under Mosaic's profile.

Q2 2017 Financial and Operational Highlights

Increased revenue by 44% in Q2 2017 over the same period in 2016 resulting from the acquisition of new portfolio companies which was partially offset from revenue declines in certain western Canadian based companies;
Increased Adjusted EBITDA by 3% in Q2 2017 over the same period in 2016 as EBITDA contributions from new acquisitions in the Infrastructure segment were impacted by unseasonably wet weather on construction activities and certain western Canadian based businesses continued to face margin pressures in the quarter;
Closed the acquisition of a 75% interest in Cedar Infrastructure Products on May 1, 2017 for total consideration of $18.5 million. Cedar represents the Company's second acquisition in the Ontario market and offers strong, sustainable cash flow that will serve to further increase portfolio diversification;
The Company continues to maintain a healthy balance sheet with $17.8 million in cash, $55.5 million in positive working capital and total debt to EBITDA of 1.82 at the end of the second quarter;
The Company continues to see many attractive acquisition opportunities across a wide range of industries and geographies; and
On June 30, 2017, Mosaic closed an agreement with its senior lender for a $15.0 million increase in its revolving acquisition facility to $50.0 million with the incremental availability subject to the completion of future acquisitions.

Segmented Financial Performance*
For the Six Months Ended June 30, 2017

All amounts are in thousands except %

CONSOLIDATED

Infrastructure

Energy

Diversified

Revenue

% of Total

% increase (decrease) year over year

$127,835

100%

44%

$83,195

65%

28%

$5,186

55%

$39,163

31%

100%

Adjusted EBITDA ⁽¹⁾⁽²⁾

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