Tervita Corporation Announces Fourth Quarter & Year End 2018 Results
March 13, 2019
- Q4 2018 Adjusted EBITDA of $50 million up 25% vs Q4 2017, and 2018 Adjusted EBITDA of $191 million up 22%, or 16% per share from 2017.
- Generated $103 million of Discretionary Free Cash Flow (excluding cash transaction costs) which was more than sufficient to fund $56 million of 2018 growth and expansion capital spending.
- Achieved synergies of $13 million since the close of the successful acquisition of Newalta in Q3 2018. We expect to exit 2019 at a $35 – $40 million run rate. Assuming full run rate synergies, Q4 2018 Adjusted EBITDA would have been $52 million.
- 2018 Adjusted EBITDA Margins of 30% underpinned by Tervita’s significant 63% Energy Services’ exposure to oil and gas production-related revenue and a stable industrial services business demonstrate Tervita’s resilience in a challenging environment.
- Anticipate low double-digit Adjusted EBITDA growth in 2019.
CALGARY, March 13, 2019 – Tervita Corporation (“Tervita” or the “Company”) (TSX: TEV) announced today the results for the three and twelve months ended December 31, 2018. All financial figures are in millions of Canadian dollars unless otherwise noted. Full news release.
Tervita is a leading waste management and environmental solutions provider offering waste processing, treating, recycling, and disposal services to customers in the oil and gas, mining, and industrial sectors. We serve our customers onsite and through a network of facilities in Canada and the United States.
For 40 years, Tervita has been focused on delivering safe and efficient solutions through all phases of a project while minimizing impact, maximizing returns™. Our dedicated and experienced employees are trusted sustainability partners to our clients. Safety is our top priority: it influences our actions and shapes our culture. Tervita trades on the TSX as TEV. For more information, visit tervita.com.
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