Business
Canlan Sports Delivers Outstanding 2024 Year-End Results with Record Revenue and Strong Profit Growth and Continues Quarterly Dividend
Burnaby, British Columbia--(Newsfile Corp. - March 21, 2025) - Canlan Ice Sports Corp. (TSX: ICE)...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"Canlan Sports Delivers Outstanding 2024 Year-End Results with Record Revenue and Strong Profit Growth and Continues Quarterly DividendBurnaby, British Columbia--(Newsfile Corp. - March 21, 2025) - Canlan Ice Sports Corp. (TSX: ICE) (the \"Corporation\", \"Canlan\" or \"Canlan Sports\") today reported its financial results for the year ended December 31, 2024.Overview of Year Ended December 31, 2024Total operating revenue of $94.0 million increased by $7.9 million or 9.2% compared to a year ago;Food and beverage revenue increased by $1.2 million or 9.8% compared to 2023;Total operating earnings of $13.7 million increased by $4.3 million or 45.4% compared to 2023; Net earnings were $2.8 million or $0.21 per share compared to $0.4 million or $0.03 per share in 2023; andApproximately $3.4 million of capital projects were completed to enhance customer experience and to expand the Company's activity offerings. These included the construction of new golf/sports simulators at the Scotia Barn and Canlan Sports York facilities, the renovation of the Canlan Sports York sports bar, and the addition of new turf fields at Canlan Sports Libertyville.\"Our 2024 revenue growth was exceptional, reflecting the strength of our strategic initiatives and our relentless pursuit of operational excellence,\" said Canlan Sports' President and CEO, Joey St-Aubin. \"We're particularly excited by the continued momentum in our food and beverage operations, which has surpassed our expectations and contributed to robust earnings and margin improvements. Beyond financial performance, we are investing boldly in the future-enhancing customer experiences through exciting capital projects like our banquet facilities with state-of-the-art golf & multi-sport simulator bays, a completely revitalized sports bar at Canlan Sports York, and two new indoor fields at Canlan Sports Libertyville to meet growing demand. These innovations are not only enhancing our facilities but also positioning Canlan for sustained growth, resiliency, and long-term value creation.\"\"Beyond our growth initiatives, we made significant progress in strengthening our infrastructure for future success,\" added the Company's CFO, Ivan Wu. \"Our roof remediation program and critical life-cycle equipment replacements are anticipated to create energy efficiencies and improve ice and air quality ac...