Business
MATTR Announces First Quarter 2025 Results
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Compa...
About this update from Mattr Corp
[{"type":"text","content":"MATTR Announces First Quarter 2025 Results \n\n\n\n TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) reported today its operational and financial results for the three months ended March 31, 2025. This press release should be read in conjunction with the Company’s Management Discussion and Analysis (“MD&A”) and interim consolidated financial statements for the three months ended March 31, 2025, which are available on the Company’s website and at www.sedarplus.com.\n \n\n Highlights include\n \n 1\n \n :\n \n\n\n On January 2, 2025, the Company completed its acquisition of AmerCable® Incorporated (“AmerCable”), a U.S. manufacturer of highly engineered wire and cable solutions for the net purchase price of US$283 million, equivalent to approximately CAD $407 million based on the USD-CAD exchange rate as of December 31, 2024 which includes the contractual purchase price, initial working capital adjustments, and US$19.3 million of cash in the business. This transaction is still subject to final net working capital adjustments. AmerCable is now reported under the Company's Connection Technologies segment;\n \n\n On a consolidated basis (including Continuing Operations and Discontinued Operations), Mattr reported revenue of $343 million, net income of $53 million, Adjusted EBITDA\n \n 2\n \n of $54 million, diluted Earnings Per Share (“EPS”) of 0.84 and diluted Adjusted EPS\n \n 2\n \n of $0.34. Results are inclusive of Modernization, Expansion and Optimization (“MEO”)\n \n 2\n \n costs of $2.7 million incurred during the quarter;\n \n\n During the first quarter of 2025, Mattr's Continuing Operations (including AmerCable) delivered revenue of $320 million, operating income of $18 million and Adjusted EBITDA of $47 million, an 80% increase compared to the first quarter of 2024;\n \n\n The Connection Technologies segment's first quarter revenue increased by 106% to $187 million compared to $91 million in the prior year’s quarter. Operating income increased by 24% to $18 million compared to $15 million in the prior year's quarter and Adjusted EBITDA from the segment was $30 million, a 73% increase compared to the first quarter of 2024;\n \n\n The Composite Technologies seg...