Tredence Named a Leader in ISG's 2025 Provider Lens™ Assessment for Retail & CPG Analytics Services
SAN JOSE, Calif. and BENGALURU, India, Aug. 11, 2025 /CNW/ -- Tredence, the global data science and AI solutions company, has been recognized for the second consecutive year as a 'Leader' in the Information Services Group's (ISG) Provider Lens™ for Retail & CPG Analytics Services.
ISG, a prominent global technology research and advisory firm, serves as a trusted business partner to over 900 clients, including 75 of the world's top 100 enterprises. This year's ISG 'Specialty Analytics Service – Retail and CPG Study' evaluated 21 leading providers and Tredence was recognized among 7 leaders, to help retail and CPG decision-makers identify the most effective partners for their analytics needs.
In this assessment, ISG identified Tredence as a Leader and a top choice for retailers and Consumer Goods companies navigating the complex landscape of data and analytics. Tredence is the AI expert driving the data strategy for 8 of the top 10 global retailers and CPGs. Trusted by the world's leading retailers and CPGs, Tredence's data model and AI/ML accelerators are powering over $2 trillion in global RCG revenue.
According to the report, Tredence was chosen for its exemplary leadership in transforming leading retailers' and CPG companies' data foundations, enabling them to derive actionable insights with Agentic AI and significantly reducing time to value for clients.
Tredence earned recognition from ISG for its strengths in areas such as:
Agentic AI Across the Retail-CPG Value Chain: Agent-ready data models support rapid deployment across pricing, promotions, assortment, and inventory. With multimodal intelligence and orchestration across data and workflows, it enables modular, persona-centric automation.
Marketplace of Retail & CPG AI Agents: A connected ecosystem where specialized agents collaborate to optimize pricing, promotions, shelf execution and replenishment, driving autonomous decisions that deliver end-to-end growth and efficiency.
Accelerated AI Impact: With 150+ retail-specific AI/ML accelerators and 12+ GenAI agents, Tredence solves the toughest data engineering and data science challenges for the world's largest retailers. Tredence's accelerators cut time-to-value by 50% and deliver measurable results in weeks.
"At Tredence, we're helping enterprises turn AI ambition into action. By embedding GenAI and Agentic AI into vertical-specific retail and CPG use cases, we're enabling intelligent, real-time decisions that solve real-world challenges—from supply chain volatility to personalized customer engagement. Our focus on domain-driven innovation accelerates AI maturity and drives tangible business outcomes. As markets shift, we're committed to helping leaders stay ahead with scalable, future-ready AI solutions," said Shub Bhowmick, Co-founder and CEO of Tredence.
"Tredence delivers differentiated impact by embedding GenAI and Agentic AI into vertical-specific Retail and CPG use cases. This integration advances AI readiness and maturity, enabling real-time, intelligent decision-making across the value chain and accelerating the insights-to-action cycle—enhancing responsiveness, operational efficiency and customer-centric growth for business leaders navigating dynamic market conditions," said Manav Deep Sachdeva, Principal Analyst, ISG.
This recognition builds on Tredence being named the 2025 Retail and CPG Partner of the Year by Databricks, Snowflake and Google Cloud, affirming its position as the clear leader in Retail and CPG Data & AI modernization driving measurable business impact.
Visit the Tredence website to learn more about driving the data strategy for top global retail and CPG companies or download a copy of the ISG report.
About Tredence:
Tredence is a global data science and AI solutions provider focused on solving the last-mile problem in AI – the gap between insight creation and value realization. Tredence leverages strong domain expertise, data platforms and accelerators, and strategic partnerships to provide tailored, cutting-edge solutions to its clients. Tredence is 3,500-plus employees strong with offices in San Francisco Bay Area, Chicago, London, Toronto, and Bengaluru, with the largest companies in Retail, CPG, Hi-tech, Telecom, Healthcare, Travel, and Industrials as clients.
For more information, please visit www.tredence.com and follow us at Tredence on LinkedIn.
ISG (Information Services Group) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including 75 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics, sourcing advisory, managed governance and risk services, network carrier services, technology strategy and operations design, change management, market intelligence, and technology research and analysis.
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K-BRO REPORTS RECORD Q2 RESULTS FOR REVENUE, EBITDA AND ADJUSTED EBITDA
(TSX: ) EDMONTON, AB, Aug. 13, 2025 /CNW/ - K-Bro Linen Inc. ("K-Bro" or the "Corporation") today announces its Q2 2025 financial and operating results. Q2 2025 Financial and Operating Highlights Revenue Revenue increased by 21.0% in Q2 2025 to $113.1 million compared to $93.5 million in Q2 2024. Healthcare revenue increased to $57.9 million for Q2 2025 compared to $48.0 million in Q2 2024, or by 20.7%. Hospitality revenue increased to $55.2 million for Q2 2025 compared to $45.5 million in 2024, or by 21.2%. Adjusted EBITDA 1, Adjusted EBITDA Margin 1 & Adjusted Net Earnings 1 Adjusted EBITDA increased by 30.0% to $23.7 million in Q2 2025 compared to $18.2 million in Q2 2024. Adjusted EBITDA margin increased by 1.5% to 21.0% in Q2 2025 compared to 19.5% in Q2 2024. Adjusted net earnings increased by 25.8% to $7.8 million in Q1 2025 from $6.2 million in Q2 2024. EBITDA, EBITDA Margin & Net Earnings EBITDA increased by $4.8 million to $21.4 million for Q2 2025 compared to $16.6 million in Q2 2024. EBITDA margin for the quarter increased to 18.9% in 2025 compared to 17.7% in 2024. Net earnings for the quarter increased by $0.9 million to $5.4 million in 2025 from $4.5 million in 2024, and as a percentage of revenue decreased by 0.1% to 4.8% in 2025 from 4.9% in 2024. For the second quarter of 2025, K-Bro declared dividends of $0.300 per common share. K-Bro issued 2,334,500 common shares to finance the Stellar Mayan acquisition. K-Bro amended its existing three-year committed Syndicated Credit Facility Agreement to include a $134.3 million four-year amortizing term loan and to extend the term of the facility to June 10, 2029. Debt net of cash at the end of Q2 2025 was $228.3 million compared to $114.4 million at the end of fiscal 2024 due to the amortizing term loan to finance the Stellar Mayan acquisition. Linda McCurdy, President & CEO of K-Bro, commented that "We're delighted to have completed the acquisition of Stellar Mayan, the largest in our history, and welcome the Stellar team to the K-Bro family. We initially entered the UK through the acquisition of Fishers in 2017. Our complementary acquisitions of Shortridge in 2024 and Stellar Mayan in 2025 have helped achieve our vision of building a national platform in the UK, enhancing our scale, reach and diversification. Together, we're excited to support our existing and new healthcare and hospitality customers." "Our fifth consecutive quarter of record results reflects early contributions of our recent acquisitions and we're excited about our future potential and outlook of these accretive acquisitions. Both of K-Bro's healthcare and hospitality segments continue to experience steady volume trends. Going forward, we expect combined Adjusted EBITDA margins will remain at similar levels to combined seasonally adjusted historical margins. We continue to monitor the evolving state of tariffs and other trade policies. We are not currently anticipating meaningful impacts on our business, as key customers and suppliers are not US-based." (1) Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Earnings are non-GAAP measures. See "Terminology" for further information on the definition and composition of these measures. Highlights and Significant Events for Q2 2025 Business Acquisition - Stellar Mayan On May 13, 2025, the Corporation announced the signing of a share purchase agreement to acquire 100% of UK based Stellar Mayan. Stellar Mayan includes three operating businesses: (i) Synergy Health Managed Services Limited ("Synergy"); (ii) Grosvenor Contracts (London) Limited ("Grosvenor Contracts", "GC"); and (iii) Aeroserve (MSP) Limited and Aeroserve Euro Limited, jointly referred to as Aeroserve Linen Services ("AeroServe"). On June 11, 2025, the Corporation announced that it completed the previously announced acquisition of Stellar Mayan, a leading commercial laundry business in England serving the healthcare and hospitality markets. The Acquisition is highly complementary to K-Bro's existing UK businesses, Fishers and Shortridge, and creates a national footprint in the UK's commercial laundry and textile rental sector. The Corporation partially financed the Stellar Mayan Acquisition through the issuance of 2,334,500 common shares (initially issued as subscription receipts) at a price of $34.55 per common share (initially issued as subscription receipts). The remainder of the Acquisition was funded by the Corporation's new $134.3 million four-year amortizing term loan. Based on the Corporation's evaluation of the Stellar Mayan Acquisition and the criteria in the identification of a business combination established in IFRS 3, the Stellar Mayan Acquisition has been accounted for using the acquisition method, whereby the purchase consideration is allocated to the fair values of the net assets acquired. At the time the financial statements were authorized for issue, and due to the timing of the Acquisition, the Corporation has not yet completed the accounting for the Stellar Mayan Acquisition. This includes the accounting for the amounts attributable to property, plant and equipment, intangible assets and the associated goodwill. The preliminary purchase price allocated to the net assets acquired, based on their estimated fair values, is as follows: 1) This is presented net of cash acquired. Cash acquired was $5,156. The assets and liabilities recognized as a result of the Stellar Mayan Acquisition are as follows: 1) Includes ROUA from the UK Division of $32,556. The provisional intangible assets acquired are made up of $33.2 million related to customer contracts and $11.3 million related to the brands. The goodwill is attributable to the workforce, and the efficiencies and synergies created between the existing business of the Corporation and the acquired business. Goodwill will not be deductible for tax purposes. Acquisition related costs For the six months ended June 30, 2025, $7.1 million in professional fees associated with the Stellar Mayan Acquisition has been included in Corporate expenses. Revenue and profit information The acquired business contributed revenues of $9.4 million to the Corporation for the period from June 12, 2025 to June 30, 2025. If the Acquisition had occurred on January 1, 2025, consolidated pro-forma revenue for the period ended June 30, 2025 would have been $280.2 million. The acquired business contributed a net deficit of ($0.455) million to the Corporation for the period from June 12, 2025 to June 30, 2025. If the Acquisition had occurred on January 1, 2025, consolidated pro-forma net earnings for the period ended June 30, 2025 would have been $15.1 million, including the recognition of a non-recurring tax loss carryforward of $8.1 million. Common Share Offering On June 11, 2025, the Corporation closed the Stellar Mayan Acquisition. Through a bought deal, the Corporation issued 2,334,500 common shares at $34.55 per share, which included full exercise of the over-allotment option. The proceeds of the common share offering were used to finance a portion of the Stellar Mayan Acquisition and pay certain fees and expenses related to acquisition and offering. The net proceeds of the offering after deducting expenses of the offering and the underwriter's fee were $75.8 million. Revolving Credit Facility On June 11, 2025, the Corporation amended its existing three-year committed Syndicated Credit Facility Agreement to include a $134.3 million four-year amortizing term loan and to extend the term of the facility from March 25, 2027 to June 10, 2029. The amendment included a reduction in the accordion to $50 million from $75 million. On March 26, 2024, the Corporation entered into a three-year committed Syndicated Credit Facility Agreement from March 26, 2024 to March 25, 2027. The agreement consists of a $175 million revolving credit facility plus a $75 million accordion. The term loan and revolving credit facility are collateralized by a general security agreement, bear interest at prime or the applicable banker's acceptance rate, plus an interest margin dependent on certain financial ratios. Interest payments only are due during the term for the revolving portion of the syndicated credit facility. For the term loan portion of the syndicated credit facility, repayments of the principal amount shall be repaid in quarterly installments commencing September 30, 2025, in addition to required interest payments. The additional interest margin can range between 0.00% to 2.00% dependent upon the calculated Total Funded Debt / Credit Facility EBITDA financial ratio, with a range between 0 to 3.50x. The Funded Debt to EBITDA Ratio requirement has an increase to 4.00x for the first four quarters following any material acquisition. The required calculated Funded Debt / Credit Facility EBITDA financial ratio is subject to change based off certain terms and conditions. As at June 30, 2025 the combined interest rate was 5.95%. The Corporation's incremental borrowing rate under its existing credit facility is determined by the Canadian prime rate plus an applicable margin based on the ratio of Funded Debt to EBITDA as defined in the credit agreement. Business Acquisition - Shortridge In the six months ended June 30, 2025, the provisional amounts that were previously disclosed in the December 31, 2024 Annual Financial Statements, associated with the 100% share capital acquisition of Shortridge Ltd, a private hospitality laundry provider based in the North West of England were finalized. No new information which resulted in adjustments to the fair value of net identifiable assets acquired was obtained during the quarter ended June 30, 2025. Business Acquisition - Buanderie C.M. In the six months ended June 30, 2025, the provisional amounts that were previously disclosed in the December 31, 2024 Annual Financial Statements, associated with the 100% share capital acquisition of Buanderie C.M., a private laundry and linen operator located in Montreal serving the healthcare market were finalized. No new information which resulted in adjustments to the fair value of net identifiable assets acquired was obtained during the quarter ended June 30, 2025. Capital Investment Plan For fiscal 2025, the Corporation's planned capital spending is expected to be in the range of $10.0 to $12.0 million on a consolidated basis. This guidance includes both strategic and maintenance capital requirements to support existing base business in both Canada and the UK. These amounts are not reflective of incremental capital required for Stellar Mayan, for which the capital investment is anticipated to be $9.3 million ($5.0 million GBP). We will continue to assess capital needs within our facilities and prioritize projects that have shorter term paybacks as well as those that are required to maintain efficient and reliable operations. Economic Conditions Evolving global and Canadian foreign policies, geopolitical events and economic conditions may impact inflation, energy pricing, labour availability, supply chain efficiency, trade policies, tariffs and/or other items, which may have a direct or indirect impact on the Corporation's business. The Corporation's Credit Facility is subject to floating interest rates and, therefore, is subject to fluctuations in interest rates which are beyond the Corporation's control. Changes in interest rates, both domestically and internationally, could negatively affect the Corporation's cost of financing its operations and investments. Uncertainty about judgments, estimates and assumptions made by management during the preparation of the Corporation's consolidated financial statements related to potential impacts of geopolitical events and changing interest rates on revenue, expenses, assets, liabilities, and note disclosures could result in a material adjustment to the carrying value of the asset or liability affected. Financial Results For The Three Months Ended June 30, (thousands, except per share amounts and percentages) Canadian Division 2025 UK Division 2025 2025 Canadian Division 2024 UK Division 2024 2024 $ Change % Change Revenue $ 69,387 $ 43,687 $ 113,074 $ 64,669 $ 28,798 $ 93,467 19,607 21.0 % Expenses included in EBITDA 55,105 36,587 91,692 53,682 23,212 76,894 14,798 19.2 % EBITDA (1) 14,282 7,100 21,382 10,987 5,586 16,573 4,809 29.0 % EBITDA as a % of revenue 20.6 % 16.3 % 18.9 % 17.0 % 19.4 % 17.7 % 1.2 % 6.8 % Adjusted EBITDA (1) 14,656 9,071 23,727 12,244 6,003 18,247 5,480 30.0 % Adjusted EBITDA as a % of revenue 21.1 % 20.8 % 21.0 % 18.9 % 20.8 % 19.5 % 1.5 % 7.7 % Net earnings 2,852 2,567 5,419 1,775 2,760 4,535 884 19.5 % Basic earnings per share $ 0.258 $ 0.233 $ 0.491 $ 0.169 $ 0.263 $ 0.432 $ 0.059 13.7 % Diluted earnings per share $ 0.257 $ 0.232 $ 0.489 $ 0.169 $ 0.262 $ 0.431 $ 0.058 13.5 % Dividends declared per diluted share $ 0.300 $ 0.300 $ - 0.0 % Adjusted net earnings (1) 3,226 4,538 7,764 3,032 3,177 6,209 1,555 25.0 % Adjusted basic earnings per share (1) $ 0.294 $ 0.412 $ 0.706 $ 0.290 $ 0.304 $ 0.594 $ 0.112 18.9 % Adjusted diluted earnings per share (1) $ 0.291 $ 0.409 $ 0.700 $ 0.288 $ 0.302 $ 0.590 $ 0.110 18.6 % Total assets 716,762 444,380 272,382 61.3 % Debt (excludes lease liabilities) 253,315 134,789 118,526 87.9 % - Cash provided by operating activities 3,149 7,863 (4,714) -60.0 % Net change in non-cash working capital items (12,173) (6,093) (6,080) -99.8 % Share-based compensation expense 687 546 141 25.8 % Maintenance capital expenditures 2,974 1,064 1,910 179.5 % Principal elements of lease payments 3,133 2,668 465 17.4 % Distributable cash flow (1) 8,528 9,678 (1,150) -11.9 % Dividends declared 3,422 3,169 253 8.0 % Payout ratio (1) 40.1 % 32.7 % 7.4 % 22.6 % For The Six Months Ended June 30, (thousands, except per share amounts and percentages) Canadian Division 2025 UK Division 2025 2025 Canadian Division 2024 UK Division 2024 2024 $ Change % Change 0 Revenue $ 135,959 $ 68,084 $ 204,043 $ 127,369 $ 46,325 $ 173,694 30,349 17.5 % Expenses included in EBITDA 111,656 58,601 170,257 106,503 39,013 145,516 24,741 17.0 % EBITDA (1) 24,303 9,483 33,786 20,866 7,312 28,178 5,608 19.9 % EBITDA as a % of revenue 17.9 % 13.9 % 16.6 % 16.4 % 15.8 % 16.2 % 0.4 % 2.5 % Adjusted EBITDA (1) 26,597 12,123 38,720 23,861 7,820 31,681 7,039 22.2 % Adjusted EBITDA as a % of revenue 19.6 % 17.8 % 19.0 % 18.7 % 16.9 % 18.2 % 0.8 % 4.4 % Net earnings 3,698 2,547 6,245 3,454 2,887 6,341 (96) -1.5 % Basic earnings per share $ 0.339 $ 0.231 $ 0.570 $ 0.329 $ 0.275 $ 0.604 $ (0.034) -5.6 % Diluted earnings per share $ 0.337 $ 0.230 $ 0.567 $ 0.328 $ 0.274 $ 0.602 $ (0.035) -5.8 % Dividends declared per diluted share $ 0.600 $ 0.600 $ - 0.0 % Adjusted net earnings (1) 5,992 5,187 11,179 6,449 3,395 9,844 1,335 13.6 % Adjusted basic earnings per share (1) $ 0.557 $ 0.474 $ 1.031 $ 0.615 $ 0.324 $ 0.939 $ 0.092 9.8 % Adjusted diluted earnings per share (1) $ 0.553 $ 0.470 $ 1.023 $ 0.611 $ 0.322 $ 0.933 $ 0.090 9.6 % Total assets 716,762 444,380 272,382 61.3 % Debt (excludes lease liabilities) 253,315 134,789 118,526 87.9 % Cash provided by operating activities 20,405 20,555 (150) -0.7 % Net change in non-cash working capital items (4,764) (2,901) (1,863) -64.2 % Share-based compensation expense 1,336 1,054 282 26.8 % Maintenance capital expenditures 3,694 1,451 2,243 154.6 % Principal elements of lease payments 5,856 5,299 557 10.5 % Distributable cash flow (1) 14,283 15,652 (1,369) -8.7 % Dividends declared 6,596 6,346 250 3.9 % Payout ratio (1) 46.2 % 40.5 % 5.7 % 14.1 % (1) See "Terminology" for further details Dividends The Board of Directors has declared a monthly dividend of $0.10 per common share for the period from August 1 to August 31, 2025, to be paid on September 15, 2025, to shareholders of record on August 31, 2025. The Corporation's policy is for shareholders of record on the last business day of a calendar month to receive dividends during the fifteen days following the end of such month. K-Bro designates this dividend as an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and similar provincial and territorial legislation. On June 11, 2025, the Corporation completed its acquisition of Stellar Mayan establishing a national footprint in the UK commercial laundry and textile rental sector, enhancing revenue diversification by geographic mix and business mix. Based on consolidated revenue, K-Bro's combined business is approximately evenly split between Canada and the UK. A newly created UK Managing Director oversees K-Bro's UK operations, including the Stellar Mayan business integration plan. The Corporation anticipates business integration will take 12 to 18 months, and a transition team is executing the business integration plan. The Corporation's healthcare and hospitality segments continue to experience steady volume trends. Management believes the UK healthcare market shares similar characteristics and trends to the Canadian healthcare market. For the healthcare segment, management expects steady increases to activity levels supported by a continued focus on reducing wait times and enhancing patient care. For the hospitality segment, management expects solid activity levels from both business and leisure travel reflecting historical seasonal trends. Going forward, management expects combined Adjusted EBITDA margins will remain at similar levels to seasonally adjusted historical margins. The Corporation continues to monitor evolving global and Canadian foreign policies, geopolitical events and economic conditions, which could have a direct or indirect impact on the business. The Corporation is not currently expecting meaningful impacts on the business, as key customers and suppliers are not US-based. In 2024, the Corporation modified its definition of Adjusted EBITDA. As K-Bro actively pursues its growth opportunities, the Corporation will continue to incur certain transaction, transition, syndication/structural financing costs. In this context, management believes Adjusted EBITDA assists investors to assess our performance on a consistent basis as it is an indication of our capacity to generate income from operations. Adjusting items are detailed in the tables within "Terminology". With the completion of the Stellar Mayan acquisition, management's near-term focus is on business integration. However, K-Bro evaluates potential strategic acquisitions that may complement its platform. Over the medium and longer-term, management sees opportunities to accelerate growth in North America, Europe, and similar geographies which remain highly fragmented. K-Bro will look to leverage its strong liquidity position, balance sheet and access to the capital markets to execute on these opportunities, should they arise. For further information about the impact of other economic factors on our business, see the "Summary of Interim Results and Key Events". CORPORATE PROFILE K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada and a national market leader for laundry and textile rental services in the UK. K‑Bro and its wholly-owned subsidiaries operate across Canada and the UK, providing a range of linen services to healthcare institutions, hotels and other commercial accounts that include the processing, management and distribution of general linen and operating room linen. The Corporation's operations in Canada include eleven processing facilities and two distribution centres in ten Canadian cities: Québec City, Montréal, Toronto, Regina, Saskatoon, Prince Albert, Edmonton, Calgary, Vancouver and Victoria. The Corporation's operations in the UK include five distinctive brands, Fishers Topco Ltd. ("Fishers") which was acquired by K-Bro on November 27, 2017, Shortridge Ltd. ("Shortridge"), which was acquired by K-Bro on April 30, 2024, and three brands acquired through the acquisition of Stellar Mayan Ltd. ("Stellar Mayan") on June 11, 2025, previously known as Star Mayan Limited. The three brands acquired were Synergy Health Managed Services Limited ("Synergy"), Aeroserve (MSP) Limited and Aeroserve Euro Limited, jointly referred to as Aeroserve Linen ("Aeroserve"), and Grosvenor Contracts (London) Limited ("Grosvenor Contracts", "GC"). Fishers was established in 1900 and is an operator of laundry and linen processing facilities in Scotland, providing linen rental, workwear hire and cleanroom garment services to the hospitality, healthcare, manufacturing and pharmaceutical sectors. Fishers' client base includes major hotel chains and prestigious venues across Scotland and the North of England. The company operates in five cities, in Scotland and the North of England with facilities in Cupar, Perth, Newcastle, Livingston and Coatbridge. Shortridge is headquartered in North West England, with laundry processing sites in Lillyhall and Dumfries and a distribution centre in Darlington. Shortridge, established in 1845, specialises in providing high quality laundry services to local independent hospitality businesses, including hotels, B&Bs, self-catering units and restaurants. Stellar Mayan, doing business as Synergy, Grosvenor Contracts and AeroServe, is a leading commercial laundry business in England, serving the healthcare and hospitality markets. Typical services offered include processing, management and distribution of healthcare and hospitality linens, including sheets, blankets, towels, surgical gowns and other linen. Stellar Mayan has seven operating facilities strategically located across England: Bermondsey, Derby, Dunstable, Sheffield, Slough (2), and St. Helens, in addition to a distribution depot in Manchester. Additional information regarding the Corporation including required securities filings are available on our website at and on the Canadian Securities Administrators' website at the System for Electronic Document Analysis and Retrieval ("SEDAR +"). TERMINOLOGY Throughout this news release and other documents referred to herein, and in order to provide a better understanding of the financial results, K-Bro uses the terms "EBITDA", "adjusted EBITDA", "adjusted net earnings", "adjusted net earnings per share", "debt to total capital", "distributable cash" and "payout ratio". These terms do not have any standardized meaning under International Financial Reporting Standards ("IFRS Accounting Standards") as set out in the CICA Handbook. Therefore, EBITDA, adjusted EBITDA, adjusted net earnings, adjusted net earnings per share, distributable cash and payout ratio may not be comparable to similar measures presented by other issuers. Specifically, the terms "EBITDA", "adjusted EBITDA", "adjusted net earnings", "adjusted net earnings per share", "distributable cash", and "payout ratio" have been defined as follows: EBITDA EBITDA (Earnings before interest, taxes, depreciation and amortization) comprises revenues less operating costs before financing costs, capital asset and intangible asset amortization, and income taxes. EBITDA is a sub‑total presented within the statement of earnings. EBITDA is not considered an alternative to net earnings in measuring K‑Bro's performance. EBITDA should not be used as an exclusive measure of cash flow since it does not account for the impact of working capital changes, capital expenditures, debt changes and other sources and uses of cash, which are disclosed in the consolidated statements of cash flows. Non-GAAP Measures Adjusted EBITDA K‑Bro reports Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization) as a key measure used by management to evaluate performance. We believe Adjusted EBITDA assists investors to assess our performance on a consistent basis as it is an indication of our capacity to generate income from operations before taking into account management's financing decisions as well as costs of acquiring tangible and intangible capital assets. The Corporation modified its definition for Adjusted EBITDA in 2024 and has updated its comparative quarters to reflect the modified definition. "Adjusted EBITDA" is EBITDA (defined above) with the addition or deduction of certain amounts incurred which management does not consider indicative of ongoing operating performance. This includes transaction costs, structural finance costs, transition and integration costs, restructuring costs, gains/losses on settlement of contingent consideration and any other non-recurring transactions. The Corporation believes these non-GAAP definitions provide more meaningful reflections of normalized financial performance from operations and will enhance period-over-period comparability. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. Adjusted Net Earnings and Adjusted Earnings per Share Adjusted Net Earnings and Adjusted Earnings per Share are non-GAAP measures. These non-GAAP measures are defined to exclude certain amounts which management does not consider indicative of ongoing operating performance. This includes transaction costs, structural finance costs, transition and integration costs, restructuring costs, gains/losses on settlement of contingent consideration and any other non-recurring transactions. The Corporation believes these non-GAAP definitions provide more meaningful reflections of normalized financial performance from operations and will enhance period-over-period comparability. Three Months Ended June 30, Canadian Division UK Division Canadian Division UK Division (thousands) 2025 2025 2025 2024 2024 2024 Net Earnings $ 2,852 $ 2,567 $ 5,419 $ 1,775 $ 2,760 $ 4,535 Adjusting Items: Transaction Costs 1 2,412 1,971 4,383 654 417 1,071 Syndication/Structural Finance Costs 2 52 - 52 392 - 392 Transition Costs 3 - - - 211 - 211 Non-recurring gains 4 (2,090) - (2,090) - - - Adjusted Net Earnings $ 3,226 $ 4,538 $ 7,764 $ 3,032 $ 3,177 $ 6,209 Six Months Ended June 30, Canadian Division UK Division Canadian Division UK Division (thousands) 2025 2025 2025 2024 2024 2024 Net Earnings $ 3,698 $ 2,547 $ 6,245 $ 3,454 $ 2,887 $ 6,341 Adjusting Items: Transaction Costs 1 3,900 2,640 6,540 683 508 1,191 Syndication/Structural Finance Costs 2 484 - 484 1,892 - 1,892 Transition Costs 3 - - - 420 - 420 Non-recurring gains 4 (2,090) - (2,090) - - - Adjusted Net Earnings $ 5,992 $ 5,187 $ 11,179 $ 6,449 $ 3,395 $ 9,844 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. 1 Relates to legal, professional and consulting fee expenditures made related to acquisitions. 2 Relates to costs related to syndication and credit agreement restructuring costs. 3 Relates to transition costs incurred as a result of the Corporation's acquisitions. 4 Relates to non-recurring gain of $1,519 from the sale of the Granby facility and a gain of $571 related to a one-time gain on a customer contract. Distributable Cash Flow Distributable cash flow is a measure used by management to evaluate the Corporation's performance. While the closest IFRS Accounting Standards measure is cash provided by operating activities, distributable cash flow is considered relevant because it provides an indication of how much cash generated by operations is available after capital expenditures. It should be noted that although we consider this measure to be distributable cash flow, financial and non‑financial covenants in our credit facilities and dealer agreements may restrict cash from being available for dividends, re‑investment in the Corporation, potential acquisitions, or other purposes. Investors should be cautioned that distributable cash flow may not actually be available for growth or distribution from the Corporation. Management refers to "Distributable cash flow" as to cash provided by (used in) operating activities with the addition of net changes in non‑cash working capital items, less share‑based compensation, maintenance capital expenditures and principal elements of lease payments. Payout Ratio "Payout ratio" is defined by management as the actual cash dividend divided by distributable cash. This is a key measure used by investors to value K-Bro, assess its performance and provide an indication of the sustainability of dividends. The payout ratio depends on the distributable cash and the Corporation's dividend policy. Debt to Total Capital "Debt to total capital" is defined by management as the total long‑term debt (excludes lease liabilities) divided by the Corporation's total capital. This is a measure used by investors to assess the Corporation's financial structure. Distributable cash flow, payout ratio, debt to total capital adjusted EBITDA, adjusted net earnings, and adjusted net earnings per share are not calculations based on IFRS Accounting Standards and are not considered an alternative to IFRS Accounting Standards measures in measuring K‑Bro's performance. Distributable cash Flow, payout ratio, adjusted EBITDA, adjusted net earnings, and adjusted net earnings per share do not have standardized meanings in IFRS Accounting Standards and are therefore not likely to be comparable with similar measures used by other issuers. FORWARD LOOKING STATEMENTS This news release contains forward‑looking information that represents internal expectations, estimates or beliefs concerning, among other things, future activities or future operating results and various components thereof. The use of any of the words "anticipate", "continue", "expect", "may", "will", "project", "should", "believe", and similar expressions suggesting future outcomes or events are intended to identify forward‑looking information. Statements regarding such forward‑looking information reflect management's current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on management's estimates and assumptions that are subject to risks and uncertainties, which could cause K-Bro's actual performance and financial results in future periods to differ materially from the forward-looking information contained in this news release. These risks and uncertainties include, among other things: (i) risks associated with acquisitions, including (a) the possibility of undisclosed material liabilities, disputes or contingencies, (b) challenges or delays in achieving synergy and integration targets, (c) the diversion of management's time and focus from other business concerns and (d) the use of resources that may be needed in other parts of our business; (ii) K-Bro's competitive environment; (iii) utility costs, minimum wage legislation and labour costs; (iv) K-Bro's dependence on long-term contracts with the associated renewal risk and the risks associated with maintaining short term contracts; (v) increased capital expenditure requirements; (vi) reliance on key personnel; (vii) changing trends in government outsourcing; (viii) changes or proposed changes to minimum wage laws in Ontario, British Columbia, Alberta, Quebec, Saskatchewan and the United Kingdom (the "UK"); (ix) the availability and terms of future financing; * textile demand; (xi) availability and access to labour; (xii) rising wage rates in all jurisdictions the Corporation operates and (xiii) foreign currency risk. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information include: (i) volumes and pricing assumptions; (ii) expected impact of labour cost initiatives; (iii) frequency of one-time costs impacting quarterly and annual financial results; (iv) foreign exchange rates; (v) the level of capital expenditures and (vi) the expected impact of the COVID-19 pandemic on the Corporation. Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements regarding forward-looking information included in this news release may be considered "financial outlook" for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this news release. Forward looking information included in this news release includes the expected annual healthcare revenues to be generated from the Corporation's contracts with new customers, calculation of costs, including one-time costs impacting the quarterly financial results, anticipated future capital spending and statements with respect to future expectations on margins and volume growth. All forward‑looking information in this news release is qualified by these cautionary statements. Forward‑looking information in this news release is presented only as of the date made. Except as required by law, K‑Bro does not undertake any obligation to publicly revise these forward‑looking statements to reflect subsequent events or circumstances. This news release also makes reference to certain measures in this document that do not have any standardized meaning as prescribed by IFRS Accounting Standards and, therefore, are considered non‑GAAP measures. These measures may not be comparable to similar measures presented by other issuers. Please see "Terminology" for further discussion.
Cision Canada
an hour ago
- Cision Canada
VitalHub Corp. Announces $65 Million Bought Deal Public Offering
TORONTO, Aug. 13, 2025 /CNW/ - VitalHub Corp. (the " Company" or " VitalHub") (TSX: VHI) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and National Bank Financial Inc. acting as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the " Underwriters") pursuant to which the Underwriters have agreed to purchase 5,118,111 Common Shares (the " Common Shares") from the treasury of the Company, at a price of $12.70 per Common Share for total gross proceeds of approximately $65.0 million (the " Offering"). In addition, the Company has granted the Underwriters an option (the " Over-Allotment Option") to purchase up to an additional 767,717 Common Shares on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any. The net proceeds of the Offering shall be used for growth initiatives including future acquisitions, working capital and general corporate purposes. Closing of the Offering is expected to occur on or about August 20, 2025 and is subject to regulatory approval including that of the Toronto Stock Exchange (the " TSX"). The Common Shares will be offered by way of a prospectus supplement to the Company's short form base shelf prospectus dated July 23, 2025, to be filed in all of the provinces and territories of Canada (other than the province of Québec) and some may be resold in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada and the United States as agreed to by the Company, in each case in accordance with all applicable laws and provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. ABOUT VITALHUB CORP. VitalHub is a leading software company dedicated to empowering health and human services providers globally. VitalHub's comprehensive product suite includes electronic health records, operational intelligence, and workforce automation solutions that serve over 1,300 clients across the UK, Canada, and other geographies. The Company has a robust two-pronged growth strategy, targeting organic opportunities within its product suite and pursuing an aggressive M&A plan. VitalHub is headquartered in Toronto with over 600 employees globally, across key regions and the VitalHub Innovations Lab in Sri Lanka. For more information about VitalHub (TSX: VHI) (OTCQX:VHIBF), please visit connect with us on LinkedIn. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain statements contained in this news release including statements relating to use of proceeds, closing of the offering and receipt of all necessary regulatory approvals may constitute "forward-looking information" or "financial outlook" within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Cision Canada
2 hours ago
- Cision Canada
CHAMPION IRON TO HOLD ITS ANNUAL GENERAL MEETING OF SHAREHOLDERS ON AUGUST 27, 2025 (MONTRÉAL) / AUGUST 28, 2025 (SYDNEY)
MONTRÉAL, Aug. 13, 2025 /CNW/ - SYDNEY, August 14, 2025 - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") announces that, further to the various filings previously made in this regard, its Annual General Meeting of Shareholders (the "Meeting") will be held on Wednesday, August 27, 2025, at 5:00 PM (Montréal time) / Thursday, August 28, 2025, at 7:00 AM (Sydney time). Information relating to the Meeting can be found under the Company's filings on SEDAR+ ( the ASX ( and the Company's website under the Investors section ( The specific details for the Meeting are as follows: A live audio webcast will be available the day of the meeting and the webcast recording will be accessible through Champion's website at Access to the webcast: About Champion Iron Limited Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15M wmt per year that produce lower contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, Champion is investing to upgrade half of Bloom Lake's mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake's high-grade and lower contaminant iron ore products have attracted a premium to the Platts IODEX 62% Fe iron ore benchmark. Champion ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has delivered its iron ore concentrate globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns the Kamistiatusset mining properties, a project with an expected annual production of 9M wmt per year of direct reduction quality iron grading above 67.5% Fe, located near available infrastructure and only 21 kilometres southeast of Bloom Lake. On July 21, 2025, Champion entered into a definitive framework agreement with Nippon Steel Corporation and Sojitz Corporation to form a partnership for the shared ownership and potential development of the Kami project. Champion also owns a portfolio of exploration and development projects in the Labrador Trough, including the Cluster II portfolio of properties, located within 60 kilometres south of Bloom Lake. For additional information on Champion Iron Limited, please visit our website at: This press release has been authorized for release to the market by the CEO of Champion Iron Limited, David Cataford. SOURCE Champion Iron Limited
