Sales up 35.6% to $461.6 million of which The Parts Alliance contribution represented $111.0 million or 32.6%;
Positive organic growth (1) of 0.7% at FinishMaster US segment, 8.6% at The Parts Alliance on a stand-alone basis and negative organic growth of 3% for the Canadian Automotive Group;
EBITDA (1) of $35.4 million up 20.0%; Adjusted EBITDA (1) of $35.6 million up 9.5%;
EPS up 27.3% to $0.42, Adjusted EPS (1) up 12.8% to $0.44; and
Free cash flows (1) of $27.7 million up 72.3%.
Boucherville (Québec), August 10, 2018 – Uni-Select Inc. (TSX:UNS) today reported its financial results for the second quarter ended June 30, 2018.
“We are very pleased by our results for the FinishMaster US segment (FinishMaster), as organic growth resumed, in line with our expectations. The Part Alliance UK segment (TPA) provided another solid quarter of sales growth and strong margins which fuelled adjusted EBITDA and free cash flows,” said Henry Buckley, President and Chief Executive Officer of Uni-Select.
“We intensified our sales and marketing efforts at FinishMaster which translated in new business wins and a return to positive organic growth. TPA is exceeding our expectations supported by solid momentum in greenfield store openings and operational performance. However, the Canadian Automotive Group segment faced headwinds this quarter primarily as a result of soft market conditions. Given our overall performance and outlook, we are reiterating our annual consolidated guidance but have adjusted our segments to consider a stronger performance in TPA and a more conservative view for Canadian operations.
Looking forward, we are confident that we have turned the corner at FinishMaster and that our TPA acquisition represents a great asset on which we can build and grow our network. Furthermore, we are confident that the Canadian business strategy will gain momentum with the growing traction of the BUMPER TO BUMPER® brand,” concluded Mr. Buckley.