Titanium Transportation Achieves Record Revenue Of 400 Million And Record Adjusted EBITDA
BOLTON, Ontario, March 08, 2022 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSXV:TTR), a leading supplier of transportation and logistics providers all through
North America, is happy to report its monetary outcomes for the three and twelve month intervals ended December 31, 2021. All quantities are in Canadian forex.
Fourth quarter 2021 results cap a year of information for Titanium, delivering document consolidated revenue for the sixth consecutive quarter, reaching $111.Three million. The corporate exceeded elevated 2021 revenue steerage delivering the highest full year income in the Company’s history at $399.4 million, practically double its full 12 months income in 2020.
"Our robust results exhibit our ability to navigate and adapt by means of challenging situations to serve our North America trucking and logistics prospects. We accomplished the biggest acquisition in our Company’s historical past. Successfully expanded into new U.S.S. markets, to attain file top line revenue development of about $four hundred million," stated Ted Daniel Chief Executive Officer, Titanium Transportation Group. "With our exceptional staff, we continued to put money into, know-how, property and our individuals enhancing our ability to execute on near-time period growth opportunities to create sustainable shareholder worth."
FY 2021 Financial Highlights in contrast with FY 2020
Record consolidated revenue of $399.4 million -- an increase of 99% -- exceeding 2021 steerage
Adjusted EBITDA(2) of $31.3 million -- a rise of 35.5% -- and an Adjusted EBITDA Margin(2) of 8.7% which includes $2.5 million in non-recurring acquisition integration prices related to the purchase of ITS and ITS working losses of roughly $1.9 million, the Adjusted EBITDA is in-line with 2021 steering.
In FY 2021, the corporate returned a complete of $3. Here is more information on titanium rod (atavi.com) look at our own web site. Four million to shareholders by way of dividends
Q4 2021 Financial Highlights compared with Q4 2020
Record consolidated income of $111.3 million -- an increase of 69.0%
Adjusted EBITDA(2) of $8.9 million -- an increase of 34.5% -- adjusted EBITDA Margin(2) of 8.7%
Logistics section revenue of $68.2 million -- an increase of 68.7% -- including US freight brokerage revenue of $44.6 million which increased 84.3%
Logistics section Adjusted EBITDA of $4.Eight million - Adjusted EBITDA Margin of 7.6%
Truck Transportation phase income of $44.5 million -- enhance of 66.0% and Adjusted EBITDA(2) $4.8 million -- enhance 24.3% -- an Adjusted EBITDA Margin of 12.3%
Daniel continued, "During the quarter, we successfully accomplished the combination of ITS and made wonderful progress bettering margins and profitability as we realized operational efficiencies in Trucking. Looking forward to 2022, we expect our phase margins and profitability to return as we optimize our combined fleet. As Logistics margins continued to further normalize during the quarter, we also centered on managing our pricing to deal with ongoing rising industry costs and enhance our applied sciences to allow us to efficiently scale our logistics expansions.
"Looking ahead, we are going to continue to adapt to the evolving economic system and challenging conditions with respect to inflationary pressures, ongoing challenges in the worldwide supply chain and tighter labour markets. With the help of our skilled and devoted group Titanium stays exceptionally properly positioned to navigate these conditions with the scale and a know-how-primarily based platform to deliver natural growth and logistics solutions for our clients."
2022 Outlook
Titanium is well-positioned to leverage its capacity, experience and applied sciences by way of 2022. The corporate estimates it will ship consolidated top line income between $450 - $470 million and between $38 - $43 million in EBITDA.
As well as, with a solid balance sheet and disciplined focus, the corporate stays committed to exploring further acquisition and enlargement alternatives within the U.S. and Canada as they arise in 2022.
Summary of Q4 2021 Financial Results (in 1000's $CAD)
Q4 2021
Q4 2020
2021
2020
% Change
Consolidated Results
111,283
65,849
69.0%
399,443
200,742
99.0%
19,725
58.7%
8,783
6,529
34.5%
31,304
23,095
35.5%
8.7%
10.4%
8.6%
12.2%
Adjusted Net Income (2)
2,896
73.9%
Adjusted Net Income per share(2)
0.08
Net Income
1,362
2,094
-35.0%
5,035
6,266
-19.6%
Net Income per share
0.04
0.06
0.12
0.17
Truck Transportation
44,526
26,825
66.0%
171,245
106,255
61.2%
Adjusted EBITDA
16,215
8.0%
Adjusted EBITDA Margin
16.2%
4,791
3,854
24.3%
17,513
18,555
-5.6%
12.3%
15.2%
11.5%
18.6%
Logistics
Revenue
68,152
40,387
68.7%
232,311
99,004
134.6%
Adjusted EBITDA(2)
5,394
214.6%
Adjusted EBITDA Margin(1)(2)
5.7%
EBITDA
4,831
3,271
47.7%
16,968
6,424
164.1%
EBITDA margin(1)
7.6%
8.5%
7.8%
6.9%
1)
EBITDA margin is calculated as EBITDA as a share of revenue before fuel surcharge.
2)
Adjusts for the subsidies acquired below the Canadian Emergency Wage Subsidy program, which equated to $0.1 million (2020- $3.Four million) on a consolidated foundation. In 2020, $2.4 million was acquired for the Truck Transportation phase and $1.0 million for the Logistics phase.
Shareholder Return and Capital Allocation Program
Titanium focuses on prudently balancing internal capital wants whereas rewarding shareholders by way of a predictable return on funding. With the energy of the Company’s stability sheet and management’s confidence within the earnings outlook in 2021, Titanium returned a complete $3.4 million to shareholders in by way of dividends declared, or $0.08 per widespread share (2020 - $0.7 million). Subsequent to the December 31, 2021, the corporate declared dividends of $0.02 per frequent share payable on March 15, 2022 to shareholders as of finish of business on February 28, 2022.
Conference Call
The corporate can even hold a convention name on Wednesday, March 9, 2022, at 8:00 a.m. Eastern Time, to discuss these results. Business media are additionally invited to listen to the call.
Dial-In Details:
Interested parties can join the decision by dialing 1-877-291-4570 (North America) or 1-647-788-4919 (International).
Replay Details:
A replay of the conference name could be accessed until midnight on March 23, 2022 by dialing 1-800-585-8367 (North America) or 1-416-621-4642 (International) and getting into the Conference ID: 6788524.
About Titanium
Titanium is a number one asset-primarily based transportation and logistics firm servicing Canada and the United States, with roughly 800 energy models, 3,000 trailers and 1,a hundred employees and unbiased owner operators. Titanium supplies truckload, dedicated, and cross-border trucking companies, freight logistics, and warehousing and distribution to over 1,000 clients. In February 2021, Titanium accomplished its strategic acquisition of International Truckload Services Group, establishing Titanium amongst the biggest Canadian transportation companies. Titanium is a acknowledged consolidator of asset-based mostly transportation firms in Ontario, having completed eleven (11) asset-based mostly trucking acquisitions since 2011. Titanium has additionally been ranked by Canadian Business (previously Profit magazine) as one in all Canada's Fastest Growing Companies for twelve (12) consecutive years.
NON-IFRS Financial MEASURES
The next monetary measures don't have any standardized that means under IFRS and will not be comparable to comparable measures employed by different firms:
"Earnings before curiosity, earnings taxes, depreciation and amortization" ("EBITDA") is calculated as web earnings earlier than depreciation, amortization, asset impairments, positive aspects or losses on the sale of equipment, finance revenue and costs, beneficial properties or losses on international trade, earnings tax expense, transaction prices, accelerated customer checklist amortization and goodwill impairment.
"EBITDA margin" is calculated as EBITDA as a percentage of income earlier than gasoline surcharge.
"Free money flow" is calculated as money circulate from operations plus proceeds from finance lease receivables and proceeds from disposition, much less capital expenditures.
"Adjusted internet revenue" is calculated as internet revenue before items that aren't in the normal course of business, equivalent to accelerated buyer checklist amortization and goodwill impairment.
Management of the company believes that these financial measures are helpful for investors and different readers, when used along with other IFRS financial measures, as they're measurers used internally by management to judge performance. However, these monetary measures are supposed to provide further information and shouldn't be considered in isolation or in its place for measures of monetary performance prepared in accordance with IFRS.
CAUTIONARY Statement Regarding Forward-Looking STATEMENTS
Certain statements contained on this press launch represent forward-looking information within the meaning of Canadian securities laws. Forward-trying statements are provided for the needs of aiding the reader in understanding Titanium's present expectations and plans referring to the longer term and readers are cautioned that such statements will not be applicable for other purposes. Forward-trying info might relate to Titanium's future outlook and anticipated occasions, and may embrace statements regarding the monetary place, enterprise technique, budgets, litigation, projected prices, capital expenditures, financial results, taxes and plans and aims of or involving Titanium. Particularly, statements concerning future acquisitions, the availability of credit, efficiency, achievements, prospects or alternatives for Titanium or the business during which it operates are forward-trying statements. In some instances, forward-trying info might be identified by phrases corresponding to "might", "would possibly", "will", "could", "ought to", "would", "happen", "expect", "plan", "anticipate", "believe", "intend", "search", "intention", "estimate", "goal", "undertaking", "predict", "forecast", "potential", "proceed", "possible", "schedule", or the detrimental thereof or different similar expressions regarding issues that aren't historical information.
Information contained in ahead-looking statements is based upon sure materials assumptions that had been utilized in drawing a conclusion or making a forecast or projection, together with management's perceptions of historical developments, current circumstances and anticipated future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based mostly on at present available information, they could show to be incorrect.
The ahead-trying statements made in this press launch are dated, and relate only to occasions or information, as of the date of this press release. Except as specifically required by regulation, Titanium undertakes no obligation to replace or revise publicly any forward-looking statements, whether or not consequently of latest data, future events or otherwise, after the date on which the statements are made or to replicate the incidence of unanticipated events.