CALGARY, Alberta, Feb. 10, 2025 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company"), a specialty construction contractor that produces cellular concrete solutions on site and is a leading manufacturer and supplier of cellular concrete in North America.
New Contract Awards:
CEMATRIX announces that it has won $5.8 million in new contract awards. These awards are split between executed contracts and contracts in process.
Significant awards as part of the $5.8 total include:
a contract for a large heavy tunnel grouting application;
a contract for an increase in scope of a large lightweight fill application on a bridge abutment project;
a change order for additional lightweight fill applications on a light rail transit extension project.
“These awards demonstrate the continued confidence that our customers have in CEMATRIX’s sales and operations teams to deliver a quality product on time and on budget. We continue to see strong bidding activity and a robust sales pipeline well into the future and we are excited for the spring weather to kick start what we expect to be a busy 2025,” stated Mr. Randy Boomhour, President and CEO of CEMATRIX Corporation.
Going forward, the Company will provide its backlog information as part of its quarterly financial reporting process in its Management Discussion and Analysis (“MD&A”).
Corporate Update:
“It is business as usual at CEMATRIX. Winter months are traditionally slower months with lower sales activity and lower revenue due to the seasonality inherent in the construction industry in the winter months,” stated Mr. Boomhour.
“With respect to the potential impact of tariffs, our Canadian and US operations buy materials including cement or ready-mix locally. We manufacture and supply our product on site. As a result, there is very little crossover between borders and we do not expect any material impact from any potential tariffs,” continued Mr. Boomhour.
“We are a growth company with positive adjusted EBITDA, positive cashflow from operations, and a healthy balance sheet. Our focus is on our customers – providing solutions to their requirements and exceeding their expectations. When we successfully focus on our customers, both our revenues and bottom-line benefit. As we continue to grow revenue and adjusted EBITDA, our valuation will increase, and it is through our business plan execution in 2025 and beyond that we intend to grow long term value for our shareholders. This is our focus. We are set up for a great year in 2025,” concluded Mr. Boomhour.
For more information about CEMATRIX please visit www.cematrix.com.
ABOUT CEMATRIX
CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site. Cellular concrete is a flowable, self-leveling, cement-based material with insulating properties. CEMATRIX provides customers with cost effective, innovative solutions to tough geotechnical construction challenges.
CEMATRIX is an early-stage growth Company with significant revenue, positive EBITDA, positive cashflow from operations, a very healthy balance sheet, and a strong team in place. The Company’s wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (“CCI”), Chicago based MixOnSite USA Inc. (“MOS”), and Bellingham based Pacific International Grout Company (“PIGCO”). For more information, please visit our website at www.cematrix.com.
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for CEMATRIX, including statements regarding: the anticipated commencement and completion of the project. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.
In addition to events beyond CEMATRIX's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party’s failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to CEMATRIX, including information obtained from third-party sources. While CEMATRIX believes that such third-party sources are reliable sources of information, CEMATRIX has not independently verified the information. CEMATRIX has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.
Risk factors are discussed in greater detail in CEMATRIX’s 2023 Management’s Discussion and Analysis for the fiscal year ended December 31, 2023 and CEMATRIX’s Management’s Discussion and Analysis for the fiscal quarter ended September 30, 2024, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and CEMATRIX undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Jeff Walker, The Howard Group – Investor Relations Phone: (888) 221-0915 or (403) 221-0915 jeff@howardgroupinc.com
