Saint-Georges, Quebec-based Canam Group Inc. posted Friday its financial results for the three-month period ended March 28, 2015, including a 29 percent increase in consolidated revenues compared to the same quarter in 2014, and an 81 percent increase in earnings before interest, tax, depreciation and amortization (Adjusted EBITDA) compared to the same quarter in 2014.
“These results attest to the continuing recovery in US non-residential construction markets, where we realize close to 68 percent of our sales, as well as to the quality of our order backlog,” said Marc Dutil, President and Chief Executive Officer of Canam Group.
Consolidated revenues for the first quarter of 2015 totaled $309.1 million compared to revenues of $239.3 million for the same quarter in 2014. The increase is attributable to growth in revenues from heavy structural steel, and joist and steel deck activities in addition to the US dollar’s rise against the Canadian dollar.
Adjusted EBITDA in the first quarter of 2015 amounted to $17.7 million, or 5.7 percent of revenues, compared to $9.8 million, or 4.1 percent of revenues, for the same quarter in 2014. The increase in 2015 is due in part to the growth in sales volume combined with a rise in the adjusted gross margin for a number of the Corporation’s activities.
In the first quarter of 2015, net income attributable to shareholders totaled $4.4 million compared to $0.5 million for the same period in 2014.