Laval, Quebec, January 19, 2016– Savaria Corporation (TSX: SIS), one of the North America’s leaders in the accessibility industry, today announced its partial results for its fourth quarter ended December 31, 2015:
Quarter ended December 31, 2015
- Revenue increase of 24%;
- EBITDA increase of about 40%.
Savaria saw a strong fourth quarter with sales of $26.6 million, representing growth of 24% over Q4 2014 and marking the company’s best-ever sales quarter in its history. We estimate an EBITDA of 16% of sales, an increase of about 40% over same period previous year, a result attributed to increased sales volume.
A Word from the President
"We are very pleased with the strong finish to our fiscal year. In spite of various market conditions, people age every day and we make products that help them maintain freedom and independence. The complete results for Q4 will be released with the year-end results after the close of the market on March 10th," declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
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