IBI Group Inc. announces second-quarter results
Date
August 15, 2014
TORONTO – IBI Group Inc. (TSX: IBG) yesterday announced its financial results for the three months and six months that ended June 30, 2014.
Highlights
- EBITDA was $7.7 million for the three months ended June 30, 2014 compared with $5.0 million for the three months ended March 31, 2014 and $7.3 million for same period last year.
- Committed fees for 2014 now stands at approximately $309 million. This represents approximately 94% of the 2014 plan, with total fee backlog of approximately eight months.
- Net income for the three-month period ended June 30, 2014 was $0.9 million, compared with net income in the first quarter of this fiscal year totaling $1.2 million and a net loss of $100.9 million for the three months ended December 31, 2013.
- Significant progress on negotiating an amendment to the senior lending facility.
About IBI Group Inc.
The Company is a TSX-listed corporation and its common shares trade under the symbol “IBG”. IBI Group is a globally integrated architecture, planning, engineering, and technology firm with over 2,600 professionals around the world. For more than 40 years, our dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. We are one of the largest architecture firms in the world, and more than 300 of our staff architects, planners, designers and engineers are LEED accredited.
We believe cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch.
At IBI, we’re defining the cities of tomorrow.
Investor Conference Call
The Company will hold a conference call on August 15, 2014 at 8:30 AM. (Toronto time). To participate in the conference call, please dial in before 8:30 AM. (Toronto time) to 1-800-891-8257 for local and toll-free North American access, or 1-212-231-2927 for international access.
An audio replay of the call will be available for 14 days, by dialing 1-416-626-4100 for international access or 1-800-558-5253 for local and toll-free North American access, pass code 21721172 followed by the number sign on your telephone keypad.
For further information:
Stephen Taylor, CFO
IBI Group Inc.
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930
Media:
Riyaz Lalani
Bayfield Strategy, Inc.
416-907-9365
rlalani@bayfieldstrategy.com
