Q4 2024 Dye & Durham Ltd Earnings Call Transcript
Key Points
- Dye & Durham Ltd (DYNDF) reported the highest revenue quarter in the company's history, excluding the impact of the TM Group divestiture, with $120 million in revenue, representing 15% growth.
- The company generated the second highest level of adjusted EBITDA at $69 million in the fourth quarter.
- Dye & Durham Ltd (DYNDF) achieved approximately $32 million of leveraged free cash flow, marking a record quarter performance since the company's IPO.
- The company's financial technology business grew revenue by more than 20% in fiscal 2024 and is off to an even greater start in fiscal 2025.
- The acquisition strategy has been successful, with recent acquisitions like Credas showing over 30% revenue growth since acquisition and strong performance expected to continue.
- Revenue exposed to real estate transactions globally in Q4 was 50%, indicating a significant reliance on this sector.
- Net finance costs for the quarter were $114 million, a substantial increase from $37 million in the corresponding period of fiscal 2023.
- The company is facing ongoing litigation from activist shareholders, which has resulted in the postponement of a special meeting and added uncertainty.
- Despite strong performance, the company remains committed to reducing its leverage ratio below 4 times, indicating current high debt levels.
- The company incurred higher severance costs in the fourth quarter, which are expected to continue into the first quarter of fiscal 2025.
Good afternoon. My name is Ina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Dye & Durham fourth quarter and year end fiscal 2024 earnings call.
I would now like to turn the call over to your host Huss Hijiri, VP, Investor Relations of Dye & Durham. Mr. Hijiri, you may begin your conference.
Great. Thank you, operator, and good afternoon, everyone, and welcome to the Dye & Durham conference call. Before we start, we'd like to remind you that all amounts discussed on this call are denominated in Canadian dollars unless otherwise indicated.
Please note that statements made during this call may include forward-looking statements and information and future of financial information regarding Dye & Durham and its businesses and disclosure regarding possible events, Please note that the statements made during this call may include forward-looking statements and information and future financial information
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