Latest news with #EarningsPerShare
Yahoo
29-05-2025
- Business
- Yahoo
Bank of Montreal (BMO) Q2 2025 Earnings Call Highlights: Strong Performance Amid Economic Challenges
Adjusted Net Income: Increased 1% to $2 billion. Adjusted Earnings Per Share (EPS): Increased to $2.62, up from $2.59 last year. Pre-Provision Pre-Tax (PPPT) Growth: 12% increase. Revenue Growth: Increased 9% across all businesses. Expenses Growth: Increased 6%. Operating Leverage: Positive at 2.7%. Common Equity Tier 1 (CET1) Ratio: 13.5%. Dividend Increase: $0.04, up 5% from last year. Return on Equity (ROE): Improved to 10.6% year to date. Net Interest Margin (NIM) Expansion: Up 4 basis points sequentially. Loan Growth: Average loans grew 3% year over year on a constant currency basis. Customer Deposit Growth: Up 5% from last year, excluding currency impact. Trading Revenue: Strong performance, particularly in commodities. Wealth Management ROE: 29% year to date, up from 24% a year ago. Total Provision for Credit Losses (PCL): $1.1 billion, or 63 basis points. Impaired Provisions: $765 million, or 46 basis points, down from prior quarter. Warning! GuruFocus has detected 6 Warning Signs with BMO. Release Date: May 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bank of Montreal (NYSE:BMO) reported a 1% increase in adjusted net income and earnings per share, reaching $2 billion and $2.62, respectively. The bank achieved a 12% growth in pre-provision pre-tax earnings (PPPT), demonstrating strong performance across its diversified businesses. BMO's capital position remains robust with a CET1 ratio of 13.5%, supporting client needs, growth investments, and shareholder returns through share buybacks and dividend increases. BMO Wealth Management delivered a return on equity of 29% year to date, with strong net new asset growth and market share gains in Canadian mutual funds. BMO Capital Markets exceeded guidance with strong trading revenue, particularly in commodities, and continued strength in securitization, contributing to a PPPT of $684 million. The economic backdrop in North America remains challenging, with GDP growth expected to slow to 1% in Canada and 1.3% in the US in 2025. Impaired provisions for credit losses remain a concern, with ongoing uncertainty and volatility in the economic environment related to trade policies. BMO's US P&C segment experienced a sequential decline in commercial loan growth, reflecting muted borrowing demand in the market. The bank's non-interest revenue was impacted by markdowns in capital markets and a loss on the sale of a US non-relationship credit card portfolio. Macro uncertainties have kept demand muted across client segments, affecting business activity and loan demand in both Canada and the US. Q: Can you discuss the outlook for US commercial loan growth and the strategy for optimizing funding in the US? A: Darryl White, CEO, explained that while the US commercial loan growth has been muted, the bank is committed to improving ROE, particularly in the US. The focus is on optimizing the balance sheet and repricing lower-value deposits, which has improved NIM by 5 basis points. Erminia Johannson, Head of North American Personal and Business Banking, added that the strategy involves building deeper relationships in core deposits and acquiring new customers. Nadim Hirji, Head of BMO Commercial Banking, noted that while borrowing demand is muted, pipelines are healthy, and sentiment is improving, which could lead to positive loan growth in the latter half of the year. Q: Are there more opportunities for balance sheet restructuring in the US following the sale of the credit card portfolio? A: Tayfun Tuzun, CFO, stated that the bank is continuously evaluating its balance sheet to improve ROE. While no specific announcements were made, it is reasonable to expect more decisions in the future as part of their strategic plan. Q: What are you hearing from US commercial customers that makes you comfortable with the current credit allowances? A: Piyush Agrawal, Chief Risk Officer, mentioned that the credit situation is stable, and customers are managing well despite the economic environment. Nadim Hirji added that customer sentiment is improving, and they are focusing on cost discipline and strategic planning, which supports a positive outlook for the commercial book. Q: How are you approaching the US stress test results, and will it affect capital allocation? A: Tayfun Tuzun, CFO, indicated that the bank's strong capital position in the US is expected to continue, and the stress test results are not anticipated to have a significant impact on capital management. Q: Can you elaborate on the potential impact of tariffs on your credit model and PCL expectations? A: Piyush Agrawal, Chief Risk Officer, explained that the economic forecast has been adjusted to reflect a weaker outlook due to tariffs, impacting Canadian GDP and unemployment projections. However, the bank remains cautiously optimistic, and PCLs are expected to remain manageable unless there is a significant escalation in trade tensions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
29-05-2025
- Business
- Yahoo
National Bank of Canada (NTIOF) Q2 2025 Earnings Call Highlights: Strong EPS Growth and ...
Earnings Per Share (EPS): $2.85, up 12% year-over-year. Return on Equity (ROE): 15.6%. CET1 Ratio: 13.4%. Quarterly Dividend Increase: Raised by $0.04. P&C Banking Net Income: $316 million, including $45 million from CWB. Wealth Management Net Income Growth: 15% year-over-year. Financial Markets Net Income: Over $500 million. Credigy Net Income: $40 million. ABA Bank Client and Deposit Growth: 33% and 21% respectively. Revenue Growth (All-Bank): 33% year-over-year. PTPP Growth (All-Bank): 45% year-over-year. Expenses Increase (Excluding CWB): 12% year-over-year. Non-Trading Net Interest Income (NII) Increase: 11% sequentially. Total Loans: $286 billion, up 22% year-over-year. Deposits (Excluding Wholesale Funding): $294 billion, up 23% year-over-year. Total PCLs: $545 million or 79 basis points. Adjusted Total PCLs: $315 million or 45 basis points. Gross Impaired Loan Ratio: 98 basis points. Warning! GuruFocus has detected 4 Warning Signs with NTIOF. Release Date: May 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. National Bank of Canada (NTIOF) reported a 12% year-over-year increase in earnings per share, reaching $2.85. The bank's return on equity was strong at 15.6%, reflecting robust financial performance. The acquisition of CWB is progressing well, with early momentum in cost and funding synergies. Wealth management saw a 15% increase in net income year-over-year, driven by strong organic growth. The bank's CET1 ratio stands at a solid 13.4%, supporting business growth and allowing for a dividend increase. Macroeconomic uncertainty, including global trade tensions and geopolitical instability, poses challenges to forecasting growth and inflation. Operating leverage was negative in the wealth management segment due to the integration of CWB's wealth business. The bank faces competitive pressures in deposit pricing, impacting net interest margins. The integration of CWB is expected to temporarily slow growth in certain segments, such as commercial loans. The bank's gross impaired loan ratio increased, driven by the CWB transaction, indicating potential credit quality concerns. Q: Why didn't National Bank of Canada update its earnings guidance despite strong Q2 results? A: Marie Gingras, CFO, explained that while they are confident in delivering mid-single-digit EPS growth for fiscal 2025, they see potential upside depending on market conditions. The strong first half provides a solid foundation, but they face a tough comparison in Q3. The successful integration of CWB is expected to create growth opportunities across Canada. Q: Can you provide more details on the AIRB transition and its impact on risk-weighted assets? A: Marie Gingras noted that while a small portfolio was migrated this quarter, the majority of the benefits from the AIRB transition are expected in 2026. A full capital plan update will be provided later in the year, likely in Q4. Q: Why isn't National Bank of Canada considering share buybacks given its strong CET1 ratio? A: Laurent Ferreira, CEO, stated that the focus is on organic growth and integrating CWB. The bank is cautious due to market uncertainty and plans to provide a capital plan update in Q4, which will include discussions on buybacks. Q: What needs to happen for revenue synergies from the CWB acquisition to materialize? A: Michael Denham, EVP, explained that revenue synergies will begin once client migrations to National Bank's systems are complete. This will allow CWB clients to access the full range of National Bank products and services, with migrations starting in the summer. Q: How did National Bank of Canada achieve such strong trading results in Q2? A: Etienne Dubuc, EVP, Financial Markets, attributed the success to an ideal trading environment with short volatility events, strong client activity, and robust issuance. The bank's defensive positioning and advanced trading technology allowed it to capitalize on market conditions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
22-05-2025
- Business
- Yahoo
Computer Modelling Group Announces Year-End Results
CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Computer Modelling Group Ltd. ('CMG Group' or the 'Company') announces its financial results for the three months and year ended March 31, 2025, and the approval by its Board of Directors (the 'Board') of the payment of a cash dividend of $0.05 per Common Share for the fourth quarter ended March 31, 2025. FOURTH QUARTER 2025 CONSOLIDATED HIGHLIGHTS Select financial highlights Total revenue increased by 4% (13% Organic decline(1) and 17% growth from acquisitions) to $33.7 million; Recurring revenue(2) increased by 16% (7% Organic decline and 23% growth from acquisitions) to $24.2 million; Adjusted EBITDA(1) increased by 2% to $10.5 million; Adjusted EBITDA Margin(1) was 31%, compared to 32% in the comparative period; Earnings per share was $0.06, a 33% decrease; Free Cash Flow(1) decreased by 26% to $7.0 million; Free Cash flow per share decreased to $0.08 from $0.12. FISCAL 2025 CONSOLIDATED HIGHLIGHTS Select financial highlights Total revenue increased by 19% (1% Organic decline and 20% growth from acquisitions) to $129.4 million; Recurring revenue increased by 13% (1% Organic growth and 12% was growth from acquisitions) to $86.8 million; Adjusted EBITDA increased by 2% to $44.0 million; Adjusted EBITDA Margin was 34%, compared to 40% in the comparative period; Earnings per share was $0.27, a 16% decrease; Free Cash Flow decreased by 22% to $27.6 million; Free Cash flow per share decreased to $0.33 from $0.44. (1) Organic growth/decline, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are not standardized financial measures and might not be comparable to measures disclosed by other issuers. For more description see under 'Non-IFRS Financial and Supplementary Financial Measures' heading. (2) Recurring revenue includes Annuity/maintenance licenses and Annuity license fee, and excludes Perpetual licenses and Professional Services. OVERVIEW Macroeconomic factors and political instability, combined with a low oil price environment, resulted in challenged organic growth this year, particularly in reservoir and production solutions, where lengthened deal cycles and cautious customer spending prevailed. Despite these challenges, we continued to execute on our strategic M&A roadmap, and revenue growth during the quarter and year-to-date, was supported by meaningful contributions from acquisitions. Adjusted EBITDA increases during the quarter and year-to-date were also supported by growth from acquisitions. Free Cash Flow decreased during the quarter and year-to-date due to pressures on top-line-growth, however, during the prior year period, Free Cash Flow also benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of intellectual property. We generated $27.6 million of Free Cash Flow during fiscal 2025, maintaining our strong liquidity position and enabling us to invest in strategic acquisitions. As we look forward to fiscal 2026, excluding any impact from future acquisitions, we anticipate a reduction of between $6 - $7 million in professional services revenue compared to fiscal 2025 which may make it challenging to demonstrate total revenue growth. It is a goal of the company to shift the revenue mix towards a higher percentage of software revenue and the reduction in professional services is a natural part of the shift. Adjusted EBITDA and Adjusted EBITDA Margin may also show limited growth due to anticipated delays in cost-saving measures in taking effect, but this impact is expected to be limited to fiscal 2026. To ensure long-term resilience, we remain committed to evolving our business model through carefully targeted strategic acquisitions. Our acquisitions to date position us well by expanding our capabilities and helping to support long-term growth by complementing our core offering. SUMMARY OF FINANCIAL PERFORMANCE Three months ended March 31, Year ended March 31, ($ thousands, except per share data) 2025 2024 % change 2025 2024 % change Annuity/maintenance licenses 19,436 19,661 (1 %) 77,525 71,530 8 % Annuity license fee 4,728 1,142 314 % 9,280 5,146 80 % Recurring revenue(1) (2) 24,164 20,803 16 % 86,805 76,676 13 % Perpetual licenses 554 2,130 (74 %) 5,617 5,739 (2 %) Total software license revenue 24,718 22,933 8 % 92,422 82,415 12 % Professional services 8,965 9,358 (4 %) 37,024 26,264 41 % Total revenue 33,683 32,291 4 % 129,446 108,679 19 % Cost of revenue 6,749 6,470 4 % 24,940 17,224 45 % Operating expenses Sales & marketing 5,094 4,361 17 % 18,617 14,957 24 % Research and development 8,129 7,607 7 % 30,142 23,679 27 % General & administrative 4,876 5,576 (13 %) 21,599 18,835 15 % Operating expenses 18,099 17,544 3 % 70,358 57,471 22 % Operating profit 8,835 8,277 7 % 34,148 33,984 - % Net income 5,104 7,229 (29 %) 22,437 26,259 (15 %) Adjusted EBITDA (1) 10,500 10,295 2 % 44,009 43,345 2 % Adjusted EBITDA Margin (1)32% 40% Earnings per share – basic & diluted 0.06 0.09 (33 %) 0.27 0.32 (16 %) Funds flow from operations per share - basic 0.10 0.13 (23 %) 0.38 0.47 (19 %) Free Cash Flow per share – basic (1) 0.08 0.12 (33 %) 0.33 0.44 (25 %) (1) Non-IFRS financial measures are defined in the 'Non-IFRS Financial Measures' section. (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. Q4 2025 Dividend Computer Modelling Group's Board approved a cash dividend of $0.05 per Common Share. The dividend will be paid on June 13, 2025, to shareholders of record at the close of business on June 5, 2025. All dividends paid by Computer Modelling Group Ltd. to holders of Common Shares in the capital of the Company will be treated as eligible dividends within the meaning of such term in section 89(1) of the Income Tax Act (Canada), unless otherwise indicated. NON-IFRS FINANCIAL MEASURES AND RECONCILIATION OF NON-IFRS MEASURES Free Cash Flow Reconciliation to Funds Flow from Operations Free cash flow is a non-IFRS financial measure that is calculated as funds flow from operations less capital expenditures and repayment of lease liabilities. Free Cash Flow per share is calculated by dividing free cash flow by the number of weighted average outstanding shares during the period. Management believes that this measure provides useful supplemental information about operating performance and liquidity, as it represents cash generated during the period, regardless of the timing of collection of receivables and payment of payables, which may reduce comparability between periods. Management uses free cash flow and free cash flow per share to help measure the capacity of the Company to pay dividends and invest in business growth opportunities. Fiscal 2024 Fiscal 2025 ($ thousands, unless otherwise stated) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Funds flow from operations 7,920 11,491 8,477 10,367 6,515 7,101 9,937 8,227 Capital expenditures (45 ) (51 ) (459 ) (95 ) (93 ) (236 ) (432 ) (661 ) Repayment of lease liabilities (412 ) (412 ) (728 ) (803 ) (743 ) (769 ) (689 ) (549 ) Free Cash Flow 7,463 11,028 7,290 9,469 5,679 6,096 8,816 7,017 Weighted average shares – basic (thousands) 80,685 80,834 81,067 81,314 81,476 81,887 82,753 83,064 Free Cash Flow per share - basic 0.09 0.14 0.09 0.12 0.07 0.07 0.11 0.08 Funds flow from operations per share- basic 0.10 0.14 0.10 0.13 0.08 0.09 0.12 0.10 Free Cash Flow decreased by 26% and 22%, respectively, for the three months and year ended March 31, 2025 from the same periods of the previous fiscal year. These decreases are primarily due to lower funds flow from operations, higher capital expenditures, and increased repayment of lease liabilities as a result of office leases in acquired entities. During year ended March 31, 2024, Free Cash Flow benefited from the tax deduction of approximately $4.6 million as a result of the acquisition of the BHV intellectual property. Adjusted EBITDA and Adjusted EBITDA Margin Three months ended March 31, Year ended March 31, ($ thousands) 2025 2024 2025 2024 Net income (loss) 5,104 7,229 22,437 26,259 Add (deduct): Depreciation and amortization 2,368 2,151 8,465 5,688 Acquisition costs 216 186 2,567 1,456 Stock-based compensation (435 ) 922 2,625 6,292 Loss on contingent consideration 88 - 2,151 - Deferred revenue amortization on acquisition fair value reduction 535 76 845 188 Income and other tax expense 2,154 1,935 10,448 8,963 Interest income (313 ) (658 ) (2,605 ) (3,096 ) Interest expense 189 - 189 - Foreign exchange loss (gain) 1,143 (743 ) (363 ) (50 ) Repayment of lease liabilities (549 ) (803 ) (2,750 ) (2,355 ) Adjusted EBITDA (1) 10,500 10,295 44,009 43,345 Adjusted EBITDA Margin (1) 32 % 40 % (1) This is a non-IFRS financial measure. Refer to definition of the measures above. Adjusted EBITDA increased by 2% during the three months ended March 31, 2025, compared to the same period of the previous year, of which 20% was growth from acquisitions, partially offset by an Organic decline of 18%, primarily attributable to lower revenue in the quarter partially offset by lower expenses. Adjusted EBITDA increased by 2% for the year ended March 31, 2025, compared to the same period of the previous year, of which 3% of the increase was due to growth from acquisitions, partially offset by a 1% Organic decline due to higher expenses. Organic Growth Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers. The Company measures Organic growth on a quarterly and year-to-date basis at the revenue and Adjusted EBITDA levels and includes revenue and Adjusted EBITDA under CMG Group's ownership for a year or longer, beginning from the first full quarter of CMG Group's ownership in the current and comparative period(s). For example, BHV was acquired on September 25, 2023 (Q2 2024). September 25, 2024, marked one full year of ownership under CMG Group and on October 1, 2024 (Q3 2025), which is the first full quarter under CMG Group's ownership in the current and comparative period, started being tracked under Organic growth. Any revenue and Adjusted EBITDA generated by BHV prior to October 1, 2024, would not be included in Organic growth. Sharp was acquired on November 12, 2025 (Q3 2025) and will start contributing to Organic growth on January 1, 2026 (Q4 2026). For further clarity, current statements include Organic growth from the following: CMG revenue and Adjusted EBITDA; and BHV revenue and Adjusted EBITDA generated beginning on October 1, 2024. Recurring Revenue Recurring revenue represents the revenue recognized during the period from contracts that are recurring in nature and includes revenue recognized as 'Annuity/maintenance licenses' and 'Annuity license fee'. We believe that Recurring revenue is an indicator of business expansion and provides management with visibility into our ability to generate predictable cash flows. The table below reconciles Recurring revenue to total revenue for the periods indicated. Three months ended March 31, Year ended March 31, 2025 2024 % change 2025 2024 % change ($ thousands) Annuity/maintenance licenses 19,436 19,661 (1% ) 77,525 71,530 8 % Annuity license fee 4,728 1,142 314 % 9,280 5,146 80 % Recurring revenue(1) (2) 24,164 20,803 16 % 86,805 76,676 13 % Perpetual licenses 554 2,130 (74 %) 5,617 5,739 (2 %) Total software license revenue 24,718 22,933 8 % 92,422 82,415 12 % Professional services 8,965 9,358 (4 %) 37,024 26,264 41 % Total revenue 33,683 32,291 4 % 129,446 108,679 19 % (1) This is a non-IFRS financial measure. (2) Included in the number is a reduction of $0.5 million and $0.8 million for the three months and year ended March 31, 2025, respectively ($0.1 million and $0.2 million for the three months and year ended March 31, 2024, respectively), attributed to the amortization of a deferred revenue fair value reduction recognized on acquisition. Consolidated Statements of Financial Position March 31, 2025 March 31, 2024 April 1, 2023 (thousands of Canadian $) Assets Current assets: Cash 43,884 63,083 66,850 Restricted cash 362 142 - Trade and other receivables 41,457 36,550 23,910 Prepaid expenses 2,572 2,321 1,060 Prepaid income taxes 1,641 3,841 444 89,916 105,937 92,264 Intangible assets 59,955 23,683 1,321 Right-of-use assets 28,443 29,072 30,733 Property and equipment 10,157 9,877 10,366 Goodwill 15,814 4,399 - Deferred tax asset 471 - 2,444 Total assets 204,756 172,968 137,128 Liabilities and shareholders' equity Current liabilities: Trade payables and accrued liabilities 18,452 18,551 11,126 Income taxes payable 2,667 2,136 33 Acquisition holdback payable 188 2,292 - Acquisition earnout 3,864 - - Deferred revenue 40,276 41,120 34,797 Lease liabilities 2,278 2,566 1,829 Government loan 310 - - 68,035 66,665 47,785 Lease liabilities 34,668 34,395 36,151 Stock-based compensation liabilities 256 624 742 Government loan 1,319 - - Acquisition earnout - 1,503 - Acquisition holdback payable 1,257 - - Other long-term liabilities 212 305 - Deferred tax liabilities 13,102 1,661 - Total liabilities 118,849 105,153 84,678 Shareholders' equity: Share capital 94,849 87,304 81,820 Contributed surplus 15,460 15,667 15,471 Cumulative translation adjustment 4,326 (367 ) - Deficit (28,728 ) (34,789 ) (44,841 ) Total shareholders' equity 85,907 67,815 52,450 Total liabilities and shareholders' equity 204,756 172,968 137,128 Consolidated Statements of Operations and Comprehensive Income Years ended March 31, (thousands of Canadian $ except per share amounts) 2025 2024 Revenue 129,446 108,679 Cost of revenue 24,940 17,224 Gross profit 104,506 91,455 Operating expenses Sales and marketing 18,617 14,957 Research and development 30,142 23,679 General and administrative 21,599 18,835 70,358 57,471 Operating profit 34,148 33,984 Finance income 2,968 3,146 Finance costs (2,080 ) (1,908 ) Change in fair value of contingent consideration (2,151 ) - Profit before income and other taxes 32,885 35,222 Income and other taxes 10,448 8,963 Net income 22,437 26,259 Other comprehensive income: Foreign currency translation adjustment 4,693 (367 ) Other comprehensive income 4,693 (367 ) Total comprehensive income 27,130 25,892 Net income per share – basic 0.27 0.32 Net income per share – diluted 0.27 0.32 Dividend per share 0.20 0.20 Consolidated Statements of Cash Flows Years ended March 31, (thousands of Canadian $) 2025 2024 Operating activities Net income 22,437 26,259 Adjustments for: Depreciation and amortization of property, equipment, right-of use assets 4,756 4,187 Amortization of intangible assets 3,709 1,501 Deferred income tax expense (recovery) (776 ) 3,518 Stock-based compensation (1,297 ) 2,795 Foreign exchange and other non-cash items 800 (5 ) Change in fair value of contingent consideration 2,151 - Funds flow from operations 31,780 38,255 Movement in non-cash working capital: Trade and other receivables (527 ) (6,697 ) Trade payables and accrued liabilities (818 ) 2,618 Prepaid expenses and other assets (169 ) (1,183 ) Income taxes receivable (payable) 2,421 (1,826 ) Deferred revenue (2,770 ) 4,910 Change in non-cash working capital (1,863 ) (2,178 ) Net cash provided by operating activities 29,917 36,077 Financing activities Repayment of acquired line of credit - (2,012 ) Repayment of government loan (141 ) - Proceeds from issuance of common shares 5,597 4,193 Repayment of lease liabilities (2,750 ) (2,355 ) Dividends paid (16,376 ) (16,207 ) Net cash used in financing activities (13,670 ) (16,381 ) Investing activities Corporate acquisition, net of cash acquired (27,292 ) (22,814 ) Repayment of acquisition holdback payable (9,247 ) - Property and equipment additions, net of disposals (1,422 ) (650 ) Net cash used in investing activities (37,961 ) (23,464 ) Decrease in cash (21,714 ) (3,768 ) Effect of foreign exchange on cash 2,515 1 Cash, beginning of year 63,083 66,850 Cash, end of year 43,884 63,083 Supplementary cash flow information Interest received 2,605 3,096 Interest paid 1,891 1,908 Income taxes paid 11,370 7,201 CORPORATE PROFILE CMG Group (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. The Company is headquartered in Calgary, AB, with offices in Houston, Oslo, Stavanger, Kaiserslautern, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For more information, please visit ANNUAL FILINGS AND RELATED ANNUAL FINANCIAL INFORMATION Management's Discussion and Analysis ('MD&A') and consolidated financial statements and the notes thereto for the year ended March 31, 2025, can be obtained from our website The documents will also be available under CMG Group's SEDAR profile Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will", and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the benefits of the acquired technology, the ongoing development thereof; and the ability of data analytics to improve efficiency, cut costs and reduce risks. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies' public filings. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. CONTACT: For further information, please contact: Pramod Jain Chief Executive Officer (403) 531-1300 or Sandra Balic Vice President, Finance & CFO (403) 531-1300 For investor inquiries, please contact: Kim MacEachern Director, Investor Relations cmg-investors@ For media inquiries, please contact: marketing@
