Latest news with #LCF
Yahoo
28-05-2025
- Business
- Yahoo
Atlas Engineered Products Ltd (APEUF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Revenue: $11 million for Q1 2025, a 21% increase over the same quarter last year. LCF Revenue Increase: 56% increase in revenues at LCF period-over-period. Engineered Wood Products Sales: 30% increase for Q1 2025 over Q1 2024. Gross Margin: Remained consistent compared to Q1 2024. Normalized EBITDA: Approximately $616,000 for Q1 2025, an increase over the prior year. Quoting Activity: Up by 29% as of the end of April 2025 compared to the previous year. Warning! GuruFocus has detected 3 Warning Signs with APEUF. Release Date: May 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Atlas Engineered Products Ltd (APEUF) reported a 21% increase in revenue for Q1 2025 compared to the same quarter last year, driven by increased sales in the commercial and multifamily building sectors. The company achieved a 56% increase in revenues at LCF, attributed to successful integration and expansion into the commercial building industry. Engineered wood products sales increased by 30% in Q1 2025 over the previous year, supported by an expanded sales force and strong supplier relationships. The company is investing in automation, with the first robotic hub in Clinton under construction, expected to contribute materially starting Q2 2026. Atlas Engineered Products Ltd (APEUF) is actively managing capital through share buybacks, seeing deep value in its stock and making accretive purchases. The company experienced a drag on working capital in Q1 due to higher inventories, which may not fully reverse until Q3 or Q4. There is a funding gap for capital expenditures, with $15 million left for normal CapEx and robotics, which may require additional debt financing. The company faces challenges in converting quotes to orders, despite a 29% increase in quoting activity up to April 2025. Homebuilder demand shows some regional weaknesses, particularly in Ontario and BC, with growing inventory balances in these areas. The company is exposed to risks associated with political and economic uncertainties, which have previously impacted builder confidence and market activity. Q: Can you expand on the quoting activity, which is up 29% year-to-date, and provide insights on regional opportunities and property types? A: Mohammad Hadi Abassi, CEO: We have a national footprint in Canada, and quoting activity varies by region. Currently, we're busy in the Maritimes, Prairies, parts of British Columbia, and Ontario. The U.S. market is also picking up as tariff concerns settle. Our sales force is actively pursuing opportunities across these regions, focusing on wood construction, including housing, condominiums, and commercial projects. Q: Regarding the working capital drag from higher inventories in Q1, do you expect this to reverse in Q2 or Q3? A: Melissa Macrae, CFO: We typically see a working capital drag in Q1, which may not fully reverse until Q3 or Q4. This year, we invested in finished goods to increase capacity for the summer months, which has temporarily impacted cash flow. However, we expect results to improve later in the year. Q: Can you provide any updates on the acquisition in Western Canada and its performance compared to expectations? A: Melissa Macrae, CFO: The acquisition is performing steadily and aligns with our expectations. They are experiencing a strong start to the year, which is encouraging as we work to finalize the acquisition. Q: How are homebuilders reacting to the current market conditions, especially with the recent strength in housing starts? A: Melissa Macrae, CFO: Homebuilders are becoming more comfortable post-elections in Canada and the U.S. Despite previous uncertainties, builders are preparing for upcoming projects, and we see a readiness to move forward as political and tariff-related distractions subside. Q: With $8 million in cash and $15 million in remaining CapEx, how do you plan to address the funding gap? A: Melissa Macrae, CFO: We are focusing on driving internally generated cash flow through increased sales. Additionally, we have a $7.5 million line of credit with our banking partner, which we can utilize as needed to manage cash flow throughout the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Cision Canada
27-05-2025
- Business
- Cision Canada
Atlas Engineered Products Reports First Quarter 2025 Financial and Operating Results, Including YoY Revenue Increase of 21%
, May 27, 2025 /CNW/ - Atlas Engineered Products ("AEP" or the "Company") (TSXV: AEP) (OTC Markets: APEUF) is pleased to announce its financial and operating results for the three months ended March 31, 2025. All amounts are presented in Canadian dollars. Financial and Operating Highlights Revenue of $11M, representing an increase of 21% year-over-year Wall Panel revenue increased by 42% year-over-year Engineered Wood Products revenue increased by 30% year-over-year Adjusted EBITDA of $586,666, representing an increase of 137% year-over-year Hadi Abassi, President and CEO of AEP, commented: "I continue to be proud and impressed with the effort and results that the team at AEP have accomplished. Despite the housing start statistics and convoluted political and economic climates, the Company delivered a 21% increase in revenue over last year and worked diligently to drive organic growth in wall panels and engineered wood products, in addition to increasing production on roof trusses. I am encouraged by the start of 2025 to continue our organic growth initiatives across Canada and strategic acquisitions that will further strengthen our geographical footprint." Revenue for the three months ended March 31, 2025 was $11,010,715 compared to revenue of $9,121,059 for the three months ended March 31, 2024. Revenue has increased due to significant progress on the integration of LCF. LCF increased revenues by 56% compared to the prior year through organic growth by expanding into the wood frame commercial building market. Additionally, the Company has seen a 30% increase in engineered wood product sales for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company has been able to expand its supply of engineered wood products to the multi-family building sector due to the expansion of our salesforce, skill of our design team, and buying power with our national supplier. Gross margin remained consistent at 16% for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The Company generally sees lower margins during the first fiscal quarter when the seasonality of the construction industry is the worst. The Company needs to maintain key skilled labour even though revenues are typically lower than during the rest of the year. Additionally, the quieter first quarter is the best time to perform maintenance and repairs on all vehicles and manufacturing equipment to ensure the best efficiency and reduce downtime during the busier construction season in summer and fall. Net loss after taxes was $846,331 for the three months ended March 31, 2025 compared to net loss after taxes of $993,436 for the three months ended March 31, 2024. Net loss after taxes has reduced compared to the prior period due to the increase in revenues. The change was offset a bit by non-cash items such as depreciation and amortization and share-based payments which resulted in an increase in operating expenses. These amounts are added back for adjusted and normalized EBITDA. Non-IFRS measure adjusted EBITDA for the three months ended March 31, 2025 was $586,666 with an adjusted EBITDA margin of 5%. Adjusted EBITDA for the three months ended March 31, 2024 was $247,738 with an adjusted EBITDA margin of 3%. These increases were mainly due to increased sales. While net loss for the period did not increase at the same rate, this was due to non-cash items of depreciation and amortization and share-based payments, which are added back for adjusted EBITDA. Selected Financial Results Outlook for 2025 The Company is continuing to see strong quoting volumes in comparison to 2024, previously reporting a 25% increase in quoting volume year over year. With an additional month completed, the Company sees this trend continuing as the first four months of 2025 resulted in a 29% increase in quoting volume compared to the first four months of 2024. Orders have remained stagnant with small increases for the first four months. However, since the federal election in Canada has concluded, the Company has seen significantly more orders being placed and looks forward to this trend continuing with further political and economic stability, along with strong government support of the construction industry. AEP continues to work at delivering organic growth through increased wall panel manufacturing and supply of engineered wood products. This organic growth will continue to help insulate the Company to potential effects of a recession by allowing for increased sales volume potential per order. While industry volumes are largely driven by macroeconomic and political factors beyond the Company's control, AEP will leverage its scale, agility and strong balance sheet to further gain market share. The Company plans to build capacity during the busy construction season by adding automation and completing projects ahead in the winter months. As of March 31, 2025, finished goods and inventories have increased compared to December 31, 2024, due to this strategy. Projects built in the first quarter will be shipped in the second and third quarters when locations are typically at full production capacity and would have difficulties finding enough labour to handle a significant increase. AEP believes that the future of the industry will be in significantly automated manufacturing facilities that can produce higher volumes at a lower cost. The new automation facility in Ontario is continuing with the completion of the steel framing and commencement of cladding for the facility. The building is still anticipated to be completed later in 2025. In addition to the Company's organic growth strategies, the Company is evaluating acquisition opportunities across North America. In September, the Company announced due diligence completion for a future acquisition in Western Canada which was anticipated to close in early Spring of 2025. This closing is still anticipated for Spring of 2025. Conference Call AEP will host a conference call to discuss the results today, May 27, 2025 at 11:00am EST (8:00am PST). The call will be hosted by Hadi Abassi, CEO & President, Founder, and Melissa MacRae, CFO. Details to join this conference call are below. Date: Tuesday, May 27, 2025 Time: 11:00am EST (8:00am PST) Webinar Link: Uto2fU4WDv Meeting ID: 286 831 885 522 3 Passcode: ha9sM76k Non-GAAP / Non-IFRS Financial Measures Certain financial measures in this news release do not have any standardized meaning under IFRS and, therefore are considered non-IFRS or non-GAAP measures. These non-IFRS measures are used by management to facilitate the analysis and comparison of period-to-period operating results for AEP and to assess whether AEP's operations are generating sufficient operating cash flow to fund working capital needs and to fund capital expenditures. As these non-IFRS measures do not have any standardized meaning under IFRS, these measures may not be comparable to similar measures presented by other issuers. The non-IFRS measures used in this news release may include "EBITDA", "EBITDA margin", "adjusted EBITDA", "adjusted EBITDA margin", "normalized EBITDA" and "normalized EBITDA margin". For a description of the composition of these measures, please refer to AEP's Management's Discussion and Analysis for the three months ended March 31, 2025 under "Non-IFRS / Non-GAAP Financial Measures", available on AEP's website at or on SEDAR at About Atlas Engineered Products Ltd. AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators. Company contact details: Hadi Abassi, CEO & President, Founder Atlas Engineered Products Ltd. Email: [email protected] 250-754-1400 PO Box 37036 Country Club PO Nanaimo, BC V9T 6N4 FORWARD LOOKING INFORMATION Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Although AEP believes that the expectations reflected in the forward looking statements are reasonable, there is no assurance that such expectations will prove to be correct, or that such future events will occur in the disclosed time frames or at all. AEP cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond AEP's control. Such factors include, among other things: risks and uncertainties related to the housing market, changes in interest rates and other risks and uncertainties relating to AEP, including those described in the Management's Discussion and Analysis ("MD&A") for AEP's three months ended March 31, 2025. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, AEP undertakes no obligation to publicly update or revise forward-looking information. SELECTED FINANCIAL INFORMATION Except as noted below, the financial information provided in this news release is derived from the AEP's audited financial statements for the three months ended March 31, 2025 and the related notes thereto as prepared in accordance with International Financial Reporting Standards ("IFRS") and related IFRS Interpretations Committee ("IFRICs") as issued by the International Accounting Standards Board ("IASB"). A copy of AEP's financial statements for the three months ended March 31, 2025 and the related Management's Discussion and Analysis is available on AEP's website at or on SEDAR at Financial information for AEP's acquisitions are included in AEP's unaudited financial statements from the date of acquisition. Financial information for acquired businesses for periods prior to the date of acquisition were prepared by management and have not been reviewed or audited by independent auditors. SOURCE Atlas Engineered Products Ltd.
Fashion Network
19-05-2025
- Business
- Fashion Network
Stephen Lawrence Day Foundation, Adidas and LCF launch "groundbreaking" new sholarship
Amounting to £75,750 over three years per student -- the scholarship 'will enable recipients to pursue their passions without the burden of financial constraints'. The SLDF scholarship is available to four 'Home' students who have progressed through UAL's Insights Programme or who are from a Black Asian and Minority Ethnic background, accepted at LCF. Courses eligible for the scholarship include BA (Hons) Fashion Sportswear, BA (Hons) Cordwainers Fashion Bags and Accessories, BA (Hons) Fashion Styling and Production, as well as undergraduate courses across fashion photography, fashion marketing, creative direction and more. Chris Walsh, VP Brand, adidas North Europe, said: 'Creative talent exists everywhere, but opportunity doesn't. That's why this partnership with the [SLDF] and UAL's London College of Fashion is so important to us at Adidas. 'We're proud to support not only access to education, but also the journey that follows — through mentorship, regular guidance, and a broader network that will help students build lasting careers in the creative industries.' Donald Mbeutcha, interim CEO of the SLDF, added: 'Stephen dreamed of becoming an architect and we are determined that his legacy should help others achieve their ambitions. Too many young people are being held back from fulfilling their dreams in the creative industries. We know that fears of accruing student debt can be a significant barrier to overcome, so we are delighted to be launching this initiative, which we hope will give four young people the chance to reach their full potential.'
Fashion Network
06-05-2025
- Business
- Fashion Network
Student Clara Gröning wins Burberry x LCF student competition
Burberry has revealed the results of a new student competition that reinforces its 'focus on circularity through design'. It has partnered with the Centre for Sustainable Fashion (CSF), based at the London College of Fashion (LCF) on 'Reimagining Materials'. Inspired by its history of product craftsmanship, it saw fashion students working with members of Burberry's creative and commercial teams to explore the theme of circularity. 'The competition provided students from LCF with an opportunity to showcase their creativity through a series of review sessions, while learning from Burberry's product experts,' the company said. Over a couple of months, 20 shortlisted students were challenged with a brief to present 'new and exciting ways of reinventing surplus materials, including Burberry's trench gabardine, Burberry Check lining fabric, leather and a selection of trims, into original products'. There were portfolio and prototype review sessions and an educational workshop on the brand's heritage and house codes, with the students' designs then being were judged by a panel of representatives from the luxury giant's Product, Digital and Merchandising teams, and members of CSF's Knowledge Exchange team. The winning design belongs to Clara Gröning, BA (Hons) Fashion Design and Development student at LCF. As well as receiving a cash prize, Gröning will join Burberry for an internship this autumn. Supported by Burberry's Early Careers team, the 'Reimagining Materials' programme builds on a range of initiatives that it offers to help 'talented young people and recent graduates gain first-hand experience alongside industry professionals', including its recent collaboration with the National Saturday Club and partnership with The BRIT School.
Business Wire
06-05-2025
- Business
- Business Wire
Latino Community Foundation Unveils New Research on Latino Entrepreneurship, Highlighting Untapped Economic Potential for the Nation
SAN FRANCISCO--(BUSINESS WIRE)--California's economy, the fourth largest in the world, offers a glimpse of what's possible for the United States: greater prosperity fueled by Latino entrepreneurs. But new research from the Latino Community Foundation (LCF) reveals the nation is leaving billions on the table by failing to invest in the very businesses driving local growth and job creation. As National Small Business Week kicks off, the Latino Community Foundation (LCF) releases two new research reports developed in collaboration with national thought leaders: The California Procurement Playbook, produced in partnership with Drexel University's Nowak Metro Finance Lab, and Investing in California's Future: An Analysis of Latino-led CDFIs in California, developed with the National Association for Latino Community Asset Builders (NALCAB). Together, the reports spotlight the untapped economic potential of Latino-led small businesses and lay out a path for California and the nation. 'Latinos are twice as likely to start businesses, and Latinas are launching new businesses at six times the national average,' said Julián Castro, CEO of the Latino Community Foundation. 'Yet our communities still face a sizable wealth gap and inequitable access to capital and scalable procurement opportunities. It is troubling that only two percent of federal contracts in California are performed by Latino-owned firms. These reports are also about more than numbers—they're about ensuring that Latino families, entrepreneurs, and business owners have equitable access to the financial tools that create opportunity, promote scalability, and build generational wealth.' 'California recently surpassed Japan as the fourth largest economy in the world. This report shows that the state can soar even higher by investing in Latino-led CDFIs,' said Marla Bilonick, President and CEO of NALCAB. 'We are grateful to the Latino Community Foundation for their partnership in elevating the strengths of Latino CDFIs and providing a vision for a more robust Latino CDFI presence in the Golden State. The economic power that Latinos generate for the United States is equal to the fifth largest economy in the world. It's vital that we channel that strength within the CDFI industry to lift all of our communities.' Key findings from Investing in California's Future: An analysis of Latino-led CDFIs in California report include: Latinos make up 40% of California's population but lead only 15% of the state's CDFIs. Latino-led CDFIs are more likely to serve Latino clients and offer culturally relevant services, including technical assistance and microloans. Latino-led CDFIs are mostly based in urban areas, while many rural counties with large Latino populations have little to no access to these resources. Latino-led CDFIs, especially in California, rely less on government and bank loans. They use more flexible and community-centered funding approaches. The California Procurement Playbook is a first-of-its-kind analysis of how Latino-owned businesses in California are faring in the federal procurement economy—and how much opportunity remains untapped. 'California—home to the nation's fourth-largest economy and more than 80,000 Latino-owned employer firms—offers a powerful opportunity to grow local and diverse businesses through procurement,' said Bruce Katz, Director of the Nowak Metro Finance Lab at Drexel University. 'But to truly scale these businesses, we need a firm-first approach. The California Procurement Playbook outlines a bold strategy centered on supplier development and access to capital—key investments that can unlock the full potential of Latino-owned firms. A thriving, competitive economy depends on opening up procurement opportunities to small and local businesses, not just long-standing incumbents. I applaud the Latino Community Foundation for spearheading this effort to build a more inclusive and innovative economy from the ground up.' Key findings from the California Procurement Playbook include: Latino-owned businesses capture only 2% of federal contracts in California, despite being 11.4% of employer firms and 40% of the state's population. Nearly 2,900 Latino firms are registered to compete for federal contracts but have never won one. Construction, security, aerospace manufacturing, and architectural services are all ripe for greater Latino participation. Language access, limited capital, and lack of ecosystem coordination prevent many firms from scaling. To download the full reports and explore how the Latino Community Foundation is advancing economic justice for Latino entrepreneurs, visit: About Latino Community Foundation The Latino Community Foundation (LCF) strives to unleash the civic and economic power of Latinos in California and beyond. Through nationally recognized programs like the Latino Nonprofit Accelerator and the Latino Giving Circle Network, LCF transforms philanthropy by centering trust, relationships, and community. From economic justice to civic leadership, LCF is building a future where Latinos lead with love and strength—and where no one is left behind. Learn more by visiting About NALCAB NALCAB is a one-of-a kind CDFI intermediary with 200+ member CDFI and economic development nonprofit member organizations that are working to maximize the economic contributions of the Latino population to the U.S. economy. Our presence extends to all 50 states, DC and Puerto Rico. Learn more at
