Business
Black Diamond Reports Strong Fourth Quarter and Year-End Results and Declares Dividend
CALGARY, Alberta, March 06, 2025 (GLOBE NEWSWIRE) -- Black Diamond Group Limited ("Black Diamond"...
About this update from Black Diamond Group Limited
[{"type":"text","content":"Black Diamond Reports Strong Fourth Quarter and Year-End Results and Declares Dividend\n\n\n\n CALGARY, Alberta, March 06, 2025 (GLOBE NEWSWIRE) -- Black Diamond Group Limited (\"Black Diamond\", the \"Company\" or \"we\"), (TSX:BDI), a leading provider of space rental and workforce accommodation solutions, today announced its operating and financial results for the three months (the \"Quarter\") and twelve months (\"2024\" or the \"Year\") ended December 31, 2024 compared with the three months (the \"Comparative Quarter\") and twelve months (\"2023\" or the \"Prior Year\") ended December 31, 2023. All financial figures are expressed in Canadian dollars.\n \n\n\n Key Highlights from the Quarter\n \n\n\n\n Profit for the Quarter of $9.3 million increased 19% from the Comparative Quarter.\n \n\n\n Consolidated rental revenue of $38.5 million increased 7% as compared to the Comparative Quarter.\n \n\n\n The Company's consolidated contracted future rental revenue at the end of the Quarter was $159.4 million, up $23.0 million or 17% from the Comparative Quarter.\n \n\n\n Adjusted EBITDA\n \n 1\n \n of $37.2 million was up 43% from the Comparative Quarter.\n \n\n\n Return on Assets\n \n 1\n \n of 25.2% improved 710 basis points from the Comparative Quarter and continues to represent an attractive return profile given the long-life and low maintenance characteristics of the Company’s rental assets.\n \n\n\n Modular Space Solutions (\"MSS\") rental revenue of $25.9 million was another record and increased 18% from $22.0 million in the Comparative Quarter. MSS value-added products and services (\"VAPS\") revenue for the Quarter of $2.0 million was up 18% from the Comparative Quarter, driving VAPS as a % of Rental Revenue\n \n 1\n \n of 8.2%.\n \n\n\n Workforce Solutions (\"WFS\") revenue of $59.9 million increased 16% from the Comparative Quarter.\n \n\n\n LodgeLink total room nights sold increased 23% from the Comparative Quarter, resulting in a fourth quarter record of 125,022.\n \n\n\n Funds from Operations\n \n 1\n \n of $44.1 million and Free Cashflow\n \n 1\n \n of $32.7 million for the Quarter were up 47% and 60%, respectively, from the Comparative Quarter.\n \n\n\n Subsequent to the end of the Quarter, the Company reached an agreement with its lenders to extend and amend its ass...