Fiscal 2017 Highlights
Revenues decreased by $12.3 million, or 0.6%.
Operating earnings increased by $89.2 million, from $212.8 million to $302.0 million. Adjusted operating earnings, which exclude restructuring and other costs (gains) and impairment of assets, increased by $9.9 million, from $283.4 million to $293.3 million, or 3.5%.
Net earnings increased by $65.2 million, from $146.3 million to $211.5 million. Adjusted net earnings, which exclude restructuring and other costs (gains) and impairment of assets, net of related taxes, increased by $5.9 million, from $196.3 million to $202.2 million, or 3.0%.
Maintained a solid financial position, with a net indebtedness ratio of 0.3x.
Concluded an expanded agreement with Lowe’s Canada which includes the renewal of the agreement with RONA and the addition of the printing of Lowe’s flyers in Canada. This agreement represents revenues of $200 million over five years and includes all services to retailers for all Lowe’s and RONA banners in the country.
Sold its media assets in Atlantic Canada and launched a process for the sale of its local and regional newspapers in Québec and Ontario. To date, close to 60% of these newspapers have been sold.
Acquired, subsequent to the end of the fiscal year, Les Industries Flexipak Inc., a flexible packaging supplier located in Montréal, Québec.
Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for fiscal 2017, which ended October 29, 2017.
“I am very proud of our performance in 2017,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “While pursuing our transformation with determination, we recorded, for a third consecutive year, the highest profitability in our history.”
“The printing division posted excellent results in 2017 and continued to improve its profitability, notably as a result of increased demand from Canadian retailers for our integrated service offering. We also renewed and expanded our long-term agreements with large retailers. Finally, we implemented measures to optimize the utilization of our printing platform.”
“In the packaging division, we successfully integrated Robbie Manufacturing and Flexstar Packaging. With the investments made in our platform and the development of our sales force, many business opportunities came to fruition this year. As a result, this division generated sustained organic growth in 2017. Lastly, we pursued numerous acquisition initiatives and recently announced the acquisition of Les Industries Flexipak Inc., located in Montréal.”
“In the Media Sector, we continued to strategically transform our asset portfolio to refocus on our most promising niches. Our specialty media and educational book publishing activities generated solid results in 2017. In addition, we disposed of our publications in Atlantic Canada and have already sold close to 60% of our local and regional newspapers in Québec and Ontario.”
“To conclude, with our sound financial position and our significant cash flows, we are very well positioned to continue building our North American flexible packaging platform.”
more detail at: http://tctranscontinental.com/-/transcontinental-inc-announces-its-financial-results-for-fiscal-2017