Q2 2024 Aimia Inc Earnings Call Transcript
Key Points
- Aimia Inc (AIMFF) reported a significant increase in adjusted EBITDA, up 83.6% from Q1 to $12.3 million.
- The company received a $32.9 million earnout from the PLM transaction, enabling a share buyback program of up to 10% of its public float.
- Bozzetto's acquisition of StarChem contributed positively, with $8.4 million in revenue and $2 million in adjusted EBITDA, showing growth of 15% and 33% respectively from Q1.
- Cortland International grew its revenue by 3% to $35 million compared to Q1, benefiting from an improved product mix.
- Aimia Inc (AIMFF) ended Q2 with $112.8 million in consolidated cash, marking an increase of $14.6 million from Q1.
- Higher shipping costs, shipping delays, and increased raw material costs due to inflation negatively impacted Q2 results.
- The termination of the Paladin agreements and shareholder activism costs contributed to a modest increase in net loss compared to Q1.
- Bozzetto's results were affected by inflation, leading to softened customer demand and lower margins.
- Cortland's adjusted EBITDA declined by $400,000 relative to Q1 due to $1.2 million in advisory fees for a business transformation initiative.
- Clear Media faced soft demand for its advertising displays due to the slow recovery of the Chinese economy, impacting its sales.
Good morning, ladies and gentlemen, and welcome to the Aimia Inc. second quarter 2024 results conference call. (Operator Instructions). This call is being recorded on Tuesday, August 13, 2024.
I'd like to turn the conference over to Joe Racanelli. Please go ahead.
Thank you, operator, and good morning, everyone. With me on this call are Aimia's Executive Chairman, Tom Finke; and our President and CFO, Steve Leonard.
Before we begin, I would like to point out a couple of items. We issued our financial results earlier -- for the second quarter earlier this morning. All of our materials, including the news release, MD&A and financial statements are available from our website as well as being posted on SEDAR+. We will be using a presentation, and for those listening to our discussion by phone, a copy is available from the IR section of our website.
Now some of the statements made on today's call may constitute forward-looking information about our future results and may differ materially from what we
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
