Business
Altus Group Reports Q4 and Fiscal 2024 Financial Results; Announces Quarterly Dividend and Renewal of Normal Course Issuer Bid
Delivers robust recurring revenue growth, margin expansion and cashflow improvement in FY 2024 ...
About this update from Altus Group Limited
[{"type":"text","content":"Altus Group Reports Q4 and Fiscal 2024 Financial Results; Announces Quarterly Dividend and Renewal of Normal Course Issuer Bid\n\n\n\n\n Delivers robust recurring revenue growth, margin expansion and cashflow improvement in FY 2024\n \n\n\n\n Altus Group remains strongly positioned to sustain revenue growth and margin expansion in FY 2025\n \n\n\n TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group” or “the Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today its financial and operating results for the fourth quarter and year ended December 31, 2024. The Company also announced the approval by its Board of Directors (“Board”) of the payment of a cash dividend of $0.15 per common share for the first quarter ending March 31, 2025, and that the Toronto Stock Exchange (“TSX”) has approved its notice of intention to renew its normal course issuer bid (“NCIB”).\n \n\n\n The 2024 results from the Property Tax segment have been classified as Discontinued Operations. Accordingly, all amounts except for Free Cash Flow and net cash provided by operating activities represent results from Continuing Operations. Unless otherwise indicated, all amounts are in Canadian dollars and percentages are on an as reported basis in comparison to Q4 2023 and FY 2023 (which have been restated to exclude results from Property Tax).\n \n\n\n\n\n Q4 2024 Summary\n \n\n\n\n\n Consolidated revenues were $135.5 million, up 3.4% (1.0% on a Constant Currency* basis).\n \n\n Profit (loss) from continuing operations was $22.9 million, compared to $(8.3) million.\n \n\n Earnings per share (“EPS”) from continuing operations were $0.50 basic and $0.48 diluted, compared to $(0.18) basic diluted.\n \n\n Consolidated Adjusted EBITDA* was $32.4 million, up 55.4% (51.8% on a Constant Currency basis).\n \n\n Adjusted EPS* was $0.85, compared to $0.26.\n \n\n Analytics Recurring Revenue* was $101.1 million, up 8.7% (5.8% on a Constant Currency basis).\n \n\n Analytics Adjusted EBITDA was $36.4 million, up 29.4% (25.2% on a Constant Currency basis).\n \n\n Analytics Adjusted EBITDA margin* improved to 33.8%, up 650 bps (630 bps on a Constant Currency basis).\n \n\n Analytics Recurring N...