The following is a summary of the Aimia Inc. (AIMFF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Aimia's Q1 consolidated revenue grew 22% to $122 million.
Gross margins improved to 28.3% from 23.8%.
Adjusted EBITDA was $6.7 million, representing a turnaround from Q4's EBITDA loss of $4 million.Net loss has improved to $4.2 million from $59 million in Q4 2023.
Revenue growth came largely from subsidiaries Bozzetto, Cortland, and StarChem, with StarChem adding $7.3 million of revenue and $1.5 million of adjusted EBITDA in Q1.
Business Progress:
Aimia monetized more than $11 million worth of Capital A shares in Q1.
Early January saw the closure of StarChem's acquisition, contributing to revenue and adjusted EBITDA growth.
Cortland International also experienced growth due to stronger customer demand and an improved product mix.
Despite some decline, Aimia ended Q1 with $98.2 million in cash and cash equivalents.
The company anticipates adjusted EBITDA for Bozzetto and Cortland to be in the range of $80 million to $85 million for this fiscal year.
Aimia has plans to focus on unlocking the growth potential of Bozzetto and Cortland, monetizing non-core assets responsibly, and capital structure optimization in 2024. They aim to return capital through a normal course issuer bid later this year.
More details: AIMIA INC IR
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