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GDI Integrated Facility Services Inc. Releases its Financial Results for the Fourth Quarter and the Year Ended December 31, 2024

In This Article:

  • Q4 2024 revenue of $634 million, an increase of $12 million, or 2%, over Q4 2023.

  • Q4 2024 Adjusted EBITDA* of $ 38 million, representing an Adjusted EBITDA* margin of 6%. 

  • Q4 2024 net income of $23 million or $1.00 per share compared with $6 million or $0.26 per share for the fourth quarter of 2023.

  • Q4 2024 decrease in long-term debt, net of cash*, of $36 million.

  • Q4 2024 decrease in net operating working capital* of $19 million.

  • 2024 revenue of $2.56 billion, an increase of $118 million or 5% over 2023.

  • 2024 Adjusted EBITDA* of $137 million, a decrease of $6 million, or 4%, over 2023. 

  • 2024 net income of $32 million or $1.37 per share compared with $19 million or $0.80 per share in 2023.

LASALLE, QC, March 4, 2025 /CNW/ - GDI Integrated Facility Services Inc. ("GDI" or the "Company") (TSX: GDI) is pleased to announce its financial results for the fourth quarter and the year ended December 31, 2024.

For the fourth quarter of 2024:

  • Revenue reached $634 million, an increase of $12  million, or 2%, over the fourth quarter of 2023, comprised of 2 % growth from acquisition, 1% growth from foreign currency translation, partially offset by an organic decline of 2%.

  • Adjusted EBITDA* amounted to $38 million, representing an Adjusted EBITDA* margin of 6%.

  • Net income was $23 million or $1.00 per share compared to $6 million or $0.26 per share in Q4 2023. The increase of net income is mainly explained by the gain on business disposals recorded in the year.

  • Long-term debt, net of cash* decreased by $36 million in the quarter. The decrease is mainly attributable to business disposal as well as cash flow from operations generated in the quarter. This decrease was partially offset by an increase of $19 million from the appreciation of the U.S. dollar relative to the Canadian dollar.

  • Net operating working capital* reduction of $19 million in the quarter.

For the fourth quarters of 2024 and 2023, the business segments performed as follows:

(in millions of

Canadian dollars)

Business Services
Canada

Business Services
USA

Technical
Services

Corporate and
Other

Consolidated

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

Revenue

150

146

217

215

257

239

10

22

634

622

Organic Growth (Decline)

3 %

1 %

(10 %)

10 %

4 %

(5 %)

(14 %)

22 %

(2 %)

2 %

Adjusted EBITDA*

12

13

14

16

18

14

(6)

(6)

38

37

Adjusted EBITDA Margin*

8 %

9 %

6 %

7 %

7 %

6 %

N/A

N/A

6 %

6 %

For the year ended December 31, 2024:

  • Revenue reached $2.56 billion, an increase of $118 million, or 5%, compared to 2023 which is mostly attributable to the effect of business acquisitions and disposals.

  • Adjusted EBITDA* amounted to $137 million, a decrease of $6 million, or 4%, compared to 2023.

  • Net income was $32 million or $1.37 per share compared to $19 million or $0.80 per share in 2023. The increase of net income is mainly explained by the gain on business disposals recorded in the year.