Laval, Quebec, December 1, 2015– Savaria Corporation (TSX: SIS), one of the North America’s leaders in the accessibility industry, today announced its forecasted results for 2016.
- Revenue of $103 million;
- EBITDA in the range of $15.8 million to $16.6 million.
A Word from the President
"With the strong industry trends of the aging population and their needs for the products that we sell, we feel confident not only to meet our 2015 forecast, but also to break another record in 2016. The targeted revenue for 2016 of approximately $103 million represents a 12% growth over our expected revenue of $92 million for 2015. Also, we expect to achieve a 17 to 23% increase over our expected EBITDA of $13.5 million for 2015, which will produce an EBITDA in the range of $15.8 million to $16.6 million for 2016," declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
"What is more encouraging is that these results are based on existing operations and do not take into account potential acquisitions," concluded Mr. Bourassa.
Savaria Corporation (savaria.com) is one of the North America’s leaders in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, distributes and installs primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. With the acquisition of Silver Cross, the Corporation now operates a lead generation program to capture and distribute leads on potential customers to close to 100 affiliates in North America; also, it is a franchisor of stores through which new and recycled accessibility equipment is sold. In addition, Savaria converts and adapts minivans to be wheelchair accessible. The diversity of its product line, one of the world’s most comprehensive, enables the Corporation to stand out by proposing an integrated and customized solution for its customers’ mobility needs. Its operations in China have substantially grown and the collaboration with Savaria’s other Canadian facilities increases its competitive edge in the market place. The Corporation records more than 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 active retailers and affiliates in North America and employs some 440 people at its head office in Laval and at its plants and sales offices in Montreal (Quebec), Brampton and London (Ontario), Calgary (Alberta) and Huizhou (China).
Cautionary Notice Regarding Forward-Looking Statements
Certain statements may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.
For further information:
Hélène Bernier, CPA, CA
Vice President, Finance
1-800-931-5655, ext. 248
President and Chief Executive Officer