Sales up 42.0% to $422.1 million of which The Parts Alliance contribution represented $110.0 million or 37.0%;
Solid organic growth (1) of 5.9% from the Canadian operations;
EBITDA (1) of $27.0 million up 16.5%; Adjusted EBITDA (1) of $27.6 million up 19.2%;
EBITDA margin (1) at The Parts Alliance UK of 8.7%;
EPS of $0.25, Adjusted EPS (1) up 11.5% to $0.29; and
Reiterating 2018 annual guidance.
Boucherville (Québec), May 3, 2018 – Uni-Select Inc. (TSX:UNS) today reported its financial results for the first quarter ended March 31, 2018.
“Overall our first quarter results were in line with our expectations when considering the seasonality of our business. For the quarter, revenues increased by 42.0% and EBITDA by 16.5% when compared to last year fuelled by the UK acquisition,” said Henry Buckley, President and Chief Executive Officer of Uni-Select.
“The Parts Alliance continued its strategy of network expansion by opening four greenfields and generated an EBITDA margin of 8.7% in a seasonally strong quarter, as expected. The Canadian business demonstrated robust organic growth of 5.9% and generated an EBITDA margin in line with last year, representative of its seasonally softest quarter of the year. Finally, FinishMaster continued to face some headwinds as it rebuilds sales momentum, with early signs of success as a result of winning new business volume.”
“Looking forward, considering first quarter results, our business outlook in the U.K. and in Canada and the progressive improvement expected at FinishMaster throughout 2018, we are confident to achieve our consolidated guidance for the year,” concluded Mr. Buckley.