Laval, Quebec,November 14, 2017 – Savaria Corporation (TSX: SIS), one of North America’s leaders in the accessibility industry, announced today its guidance for fiscal 2018. Revenue is projected to grow approximately 40% over 2017, to reach $260 million, with EBITDA projected to hit between $42 million and $44 million.
A Word from the President
“The increase in revenue is based on four factors; the first of which is realizing a full twelve months of revenue from Span-America Medical Systems, Inc. («Span») and secondly the distribution of the Savaria patient lift products through Span that is expected to take off in 2018. Savaria will also benefit from incremental home elevator sales attributed to its new luxury Vuelift elevator, a product offered through the 400-strong Savaria dealer network. Finally, the aging population continues to provide a solid foundation for the company’s forecasted 10% organic sales growth. In the meantime, Savaria continues to look for viable acquisition opportunities. These projected results exclude any future acquisitions,” declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
Savaria Corporation (savaria.com) is one of North America’s leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts, elevators for home and commercial use, as well as patient lifts. Following its recent acquisition, Savaria also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, mattress overlays and foam pillows for the retail market and certain products for the industrial market, primarily foam products. In addition, Savaria converts and adapts vehicles to be wheelchair accessible. It also operates a network of franchisees and corporate stores through which new and recycled accessibility equipment is sold. Factoring in its most recent acquisition, Savaria will record around 70% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 retailers in North America and employs some 800 people. Its principal plants are located in Laval and Magog (Quebec), Brampton, Beamsville and Toronto (Ontario), Greenville (South Carolina) and Huizhou (China).
For further information:
Hélène Bernier, CPA, CA