Uni-Select Inc.: First Quarter Results
- Sales increased by 13.6% - EBITDA increased by 13.5% - Net earnings increased by 16.2%
(firmenpresse) - BOUCHERVILLE, QUEBEC -- (Marketwire) -- 05/08/12 -- Uni-Select Inc. (TSX: UNS) generated sales of 450.7 million dollars in the first quarter of 2012, compared to 396.8 million dollars in the same period of 2011. EBITDA improved from 21.7 million dollars in the first quarter 2011 to 24.6 million dollars this quarter. Net earnings increased to 11.2 million dollars in the first quarter of 2012 or $0.52 per share compared to 9.7 million dollars or $0.45 per share for the same quarter last year.
(Unless otherwise indicated, all amounts in this press release are expressed in US dollars.)
The increase in total sales stems primarily from the addition of FinishMaster's operations and the acquisition of store operations in Florida in the fourth quarter 2011 combined with organic growth of 4.2%. The Canadian operations, with sales amounting to 115.7 million dollars, recorded organic sales growth of 1.5% during the first quarter. The American operations recorded organic sales growth of 5.2% to reach 335.0 million dollars.
The adjusted EBITDA margin was 6.1% in the first quarter of 2012, an increase of 0.3% compared to the same quarter in 2011. The improvement was mainly due to gross margin increases derived from better buying conditions and proactive management of selling prices. Moreover, the marginal contribution resulting from organic growth and acquisitions completed in 2011, combined with synergies achieved, contributed to decrease the proportion of fixed costs as a percentage of sales. Higher IT maintenance costs related to the transition to the integrated enterprise resource planning system combined with an unfavorable distribution channels mix negatively impacted the adjusted EBITDA margin partially offsetting the above factors.
"This quarter, we posted improved results in terms of sales, EBITDA and net earnings. The addition of FinishMaster and the acquired Florida assets teamed with a satisfactory increase in organic sales positively contributed to our growth." said Mr. Richard G. Roy, President and Chief Executive Officer of Uni-Select.
"During the next quarters, our focus will remain on the increased efficiency of our operations with the objectives to continue delivering improved results and reduce our debt to the level that our investors and shareholders are accustomed to. We will also pursue the integration of FinishMaster's activities as well as the assets recently acquired in Florida. We are very pleased with the deployment of the enterprise resource planning system which will continue during the year. " added Mr. Roy.
In closing, the Board of Directors of Uni-Select declared a dividend of CDN$0.13 per share payable on July 20, 2012 to shareholders of record on June 30, 2012. This dividend is an eligible dividend for tax purposes.
About Uni-Select
Founded in 1968, Uni-Select is a major distributor of replacement parts, equipment, tools and accessories for motor vehicles in North America. Leader in the Canadian industry, Uni-Select is the 6th largest distributor in the United States and the leader independent distributor of automotive paint and related products in the country. With 6,600 employees, the Uni-Select network includes over 2,500 independent jobbers and services more than 3,500 points of sale in North America. Uni-Select is headquartered in Boucherville and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
The information provided in this press release includes some forward-looking information which includes certain risks and uncertainties, which may cause the final results to be significantly different from those listed or implied within this news release. For additional information with respect to risks and uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian securities commissions. The forward-looking information contained herein is made as of the date of this press release, and Uni-Select does not undertake to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
The following terms do not have any standardized meaning according to the International Financial Reporting Standards (IFRS). As a result, they are therefore unlikely to be comparable to similar measures presented by other corporations.
Additional Information
The management report and the unaudited financial statements as well as accompanying notes for the First Quarter of 2012 are available in the "Investor Information" section on the Corporation's website at: as well as on SEDAR's: . The reader will also find on these websites the Corporation's Annual Report as well as other information related to Uni-Select, including its Annual Information Form.
Annual General and Special Meeting of Shareholders
Thursday, May 8, 2012 at 1:30 PM (EST), Uni-Select will host its Annual General and Special Meeting of Shareholders. The meeting will be held at Marriott Chateau Champlain (One, Place du Canada, Montreal) in the Caf'Conc room.
Conference Call
Thursday, May 8, 2012 at 3:30 PM (EST), Uni-Select will host a conference call to discuss the 2012 First Quarter financial results. To join the conference, dial 1 866 696-5910 followed by 8567461.
Contacts:
Source:
UNI-SELECT INC.
Contact:
Karine Vachon
Investor Relations and Communications Manager
(450) 641-6972
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Datum: 08.05.2012 - 13:49 Uhr
Sprache: Deutsch
News-ID 143932
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BOUCHERVILLE, QUEBEC
Kategorie:
Parts and Accessories
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