K-Bro Declares June 2025 Dividend
EDMONTON, AB, June 13, 2025 /CNW/ - K-Bro Linen Inc. (the "Corporation") announced today a dividend of 10.00 cents CDN per common share of the Corporation for the period from June 1 to 30, 2025, to be paid on July 15, 2025 to holders of record of common shares on June 30, 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.
CORPORATE PROFILE
K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada. K-Bro provides a comprehensive range of general linen and operating room linen processing, management and distribution services to healthcare institutions, hotels and other commercial accounts. K-Bro currently operates eleven processing facilities under two distinctive brands, including K-Bro Linen Systems Inc. and Buanderie HMR, in eight Canadian cities: Québec City, Montréal, Toronto, Edmonton, Calgary, Regina, Vancouver and Victoria.
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 East of England. The company operates sites in Scotland and the North East of England with facilities in Cupar, Perth, Newcastle, Livingston and Coatbridge.
Shortridge has operated as a family run business since the 1990s and is based in Cumbria, with plants in Lillyhall, Dumfries and a distribution depot in Darlington. It specializes in providing high quality laundry services to local independent hospitality businesses, including hotels, B&Bs, self-catering units and restaurants.
Star Mayan is a holding company that owns 100% interests in three operating businesses: Synergy, Grosvenor and AeroServe. Star Mayan 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. Star 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 www.k-brolinen.com and on the Canadian Securities Administrators' website at www.sedar.com; the System for Electronic Document Analysis and Retrieval ("SEDAR").
K‑Bro est le plus important propriétaire et exploitant de buanderies au Canada. K‑Bro fournit une gamme étendue de services de buanderie aux établissements de soins de santé, hôtels et autres clients commerciaux. K‑Bro exploite actuellement onze usines sous deux marques distinctives, incluant K-Bro Linen Systems Inc., et Buanderie HMR, dans huit villes canadiennes: Québec, Montréal, Toronto, Edmonton, Calgary, Regina, Vancouver et Victoria.
www.k-brolinen.com et sur le site Web des autorités canadiennes en valeurs mobilières au www.sedar.com, le site Web du Système électronique de données, d'analyse et de recherche (« SEDAR »).
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"While our results for the quarter were impacted by certain non-recurring compensation expenses and working capital investments to support future demand, we remain confident in our long-term trajectory. As we continue to scale our smartProduct portfolio, we are positioning McCoy to generate stable, technology-driven revenue streams that are less reflective of the cyclicality often associated with the oil & gas industry. Our focus remains on delivering differentiated value to our customers, driving operational excellence, and executing with discipline to create sustainable growth and returns for our shareholders." "While Q3 may reflect tempered sequential revenue and earnings growth due to timing of NOC contract announcements and continued weakness in the North American land market, our $24.6 million backlog and growing smartProduct adoption provide a solid foundation for the remainder of 2025," said Lindsay McGill, Vice President & CFO. 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Selected Quarterly Information Summary of Quarterly Results ($000 except per share amounts) Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Revenue 24,051 19,346 25,222 15,842 19,910 16,542 19,699 16,878 Net earnings 1,367 946 4,255 516 3,125 975 2,674 1,900 as a % of revenue 6 % 5 % 17 % 3 % 16 % 6 % 14 % 11 % per share – basic 0.05 0.03 0.16 0.02 0.12 0.04 0.10 0.07 per share – diluted 0.05 0.03 0.15 0.02 0.11 0.04 0.10 0.07 EBITDA 1 2,978 2,296 5,598 1,826 4,638 2,191 3,001 3,641 as a % of revenue 12 % 12 % 22 % 12 % 23 % 13 % 15 % 22 % Adjusted EBITDA 1 4,817 3,479 6,534 2,668 4,728 2,273 3,987 3,856 as a % of revenue 20 % 18 % 26 % 17 % 24 % 14 % 20 % 23 % Outlook and Forward-Looking Information As 2025 has progressed, there has been a notable decline in market conditions across several global regions, driven by persistent macroeconomic uncertainty, a sharp increase in oil supply following the lifting of OPEC+ production quotas, global trade disruptions, and geopolitical tensions. 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While quarterly performance may exhibit variability, this is largely reflective of the inherent lumpiness in capital equipment markets, where customer purchase decisions and shipment schedules can shift between periods. To navigate this environment, we are proactively implementing cost control measures and deferring select capital expenditures, while continuing to invest in strategic initiatives. These include continued product development, deployment and support activities, scaling our global technical support capabilities to enhance customer experience with particular focus on McCoy's smartProduct lines, and expanding our rental fleet in regions where customer capital constraints are creating opportunities for high-return rental solutions. Supported by a proven track record of operational efficiency and cash flow generation, McCoy is well positioned to navigate current market dynamics and capitalize on emerging opportunities. For 2025 and beyond, we continue to focus on our key strategic initiatives to deliver value to all our stakeholders: Accelerating market adoption of new and recently developed 'smart' portfolio products; and Focusing on capital allocation priorities. We believe this strategy, together with our committed and agile team, McCoy's global brand recognition, application expertise, strong balance sheet, and global footprint will further advance McCoy's competitive position and generate strong returns on invested capital. About McCoy Global Inc. McCoy Global is transforming well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. The Corporation has offices in Canada, the United States of America, and the United Arab Emirates and operates internationally in more than 50 countries through a combination of direct sales and key distributors. Throughout McCoy's 100-year history, it has proudly called Edmonton, Alberta, Canada its corporate headquarters. The Corporation's shares are listed on the Toronto Stock Exchange and trade under the symbol "MCB". 1 EBITDA is calculated under IFRS and is reported as an additional subtotal in the Corporation's consolidated statements of cash flows. EBITDA is defined as net earnings (loss), before depreciation of property, plant and equipment; amortization of intangible assets; income tax expense (recovery); and finance charges, net. Adjusted EBITDA is a non-GAAP measure defined as net earnings (loss), before: depreciation of property, plant and equipment; amortization of intangible assets; income tax expense (recovery); finance charges, net; provisions for excess and obsolete inventory; other (gains) losses, net; restructuring charges; share-based compensation; and impairment losses. The Corporation reports on EBITDA and adjusted EBITDA because they are key measures used by management to evaluate performance. The Corporation believes adjusted EBITDA assists investors in assessing McCoy Global's current operating performance on a consistent basis without regard to non-cash, unusual (i.e. infrequent and not considered part of ongoing operations), or non-recurring items that can vary significantly depending on accounting methods or non-operating factors. Adjusted EBITDA is not considered an alternative to net earnings (loss) in measuring McCoy Global's performance. Adjusted EBITDA does not have a standardized meaning and is therefore not likely to be comparable to similar measures used by other issuers. For comparative purposes, in previous financial disclosures 'adjusted EBITDA' was defined as "net earnings (loss) before finance charges, net, income tax expense (recovery), depreciation, amortization, impairment losses, restructuring charges, non-cash changes in fair value related to derivative financial instruments and share-based compensation. 2 McCoy Global defines backlog as orders that have a high certainty of being delivered and is measured on the basis of a firm customer commitment, such as the receipt of a purchase order. Customers may default on or cancel such commitments but may be secured by a deposit and/or require reimbursement by the customer upon default or cancellation. Backlog reflects likely future revenues; however, cancellations or reductions may occur and there can be no assurance that backlog amounts will ultimately be realized as revenue, or that the Corporation will earn a profit on backlog once fulfilled. Expected delivery dates for orders recorded in backlog historically spanned from one to six months. 3 The book-to-bill ratio is a measure of the amount of net sales orders received to revenues recognized and billed in a set period of time. The ratio is an indicator of customer demand and sales order processing times. The book-to-bill ratio is not a GAAP measure and therefore the definition and calculation of the ratio will vary among other issuers reporting the book-to-bill ratio. McCoy Global calculates the book-to-bill ratio as net sales orders taken in the reporting period divided by the revenues reported for the same reporting period. 4 Net cash is a non-GAAP measure defined as cash and cash equivalents, plus: restricted cash, less: borrowings. 5 smartProduct revenue is a non-GAAP measure and includes sales, rental and services revenues from those products and technologies developed under the Corporation's technology roadmap initiative. The metric includes revenues from flush mount spiders (FMS), casing running tools (CRTs), smartTONGs and related software and accessories. The Corporation believes smartProduct revenue is a key metric that can assist investors in assessing how McCoy Global has executed on its technology roadmap strategy. Forward-Looking Information This News Release contains forward looking statements and forward-looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "objective", "ongoing", "believe", "will", "may", "projected", "plan", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. This New Release contains forward looking statements respecting the business opportunities for the Corporation that are based on the views of management of the Corporation and current and anticipated market conditions; and the perceived benefits of the growth strategy and operating strategy of the Corporation are based upon the financial and operating attributes of the Corporation as at the date hereof, as well as the anticipated operating and financial results. Forward-looking statements regarding the Corporation are based on certain key expectations and assumptions of the Corporation concerning anticipated financial performance, business prospects, strategies, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, which are subject to change based on market conditions and potential timing delays. Although management of the Corporation consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward-looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in the forward looking statements, including inability to meet current and future obligations; inability to complete or effectively integrate strategic acquisitions; inability to implement the Corporation's business strategy effectively; access to capital markets; fluctuations in oil and gas prices; fluctuations in capital expenditures of the Corporation's target market; competition for, among other things, labour, capital, materials and customers; interest and currency exchange rates; technological developments; global political and economic conditions; global natural disasters or disease; and inability to attract and retain key personnel. Readers are cautioned that the foregoing list is not exhaustive. The reader is further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These judgments and estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and as the economic environment changes. The information contained in this News Release identifies additional factors that could affect the operating results and performance of the Corporation. We urge you to carefully consider those factors. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this New Release and the Corporation does not undertake and is not obligated to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.
