Altus Group reports first quarter 2017 financial results
Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, announced today its financial and operating results for the first quarter ended March 31, 2017.
Q1 2017 summary
Consolidated revenues increased 2.4% to $109.2 million
Consolidated adjusted EBITDA increased 7.2% to $13.3 million
Altus Analytics revenues increased 6.8% to $39.2 million, and adjusted EBITDA increased 43.8% to $12.7 million
Commercial Real Estate (“CRE”) Consulting revenues were down modestly by 1.2% to $57.7 million and adjusted EBITDA was down 31.8% to $7.1 million reflecting quarterly variability associated with Property Tax
Geomatics returned to profitability posting $1.2 million in adjusted EBITDA while revenues increased by 6.5% to $12.6 million
Consolidated profit, in accordance with IFRS, improved from a loss to $0.5 million
Adjusted earnings per share (“adjusted EPS”) increased 15.8% to $0.22
Key contact
Camilla Bartosiewicz
Chief Communications Officer
Key contact
Camilla Bartosiewicz
Chief Communications Officer
About Altus Group
Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry.
Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments.
Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.