Altus Group reports second 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 second quarter ended June 30, 2017.
Q2 2017 summary
Consolidated revenues increased 17.1% to $128.8 million
Consolidated adjusted EBITDA increased 36.5% to $25.0 million
Altus Analytics revenues increased 30.6% to $47.4 million and adjusted EBITDA increased 68.1% to $16.4 million
Commercial Real Estate (“CRE”) Consulting revenues increased 8.6% to $69.8 million and adjusted EBITDA increased 7.0% to $18.4 million
Geomatics revenues increased 22.8% to $11.8 million and adjusted EBITDA increased to $0.7 million from a loss last year
Consolidated profit, in accordance with IFRS, was up significantly to $105.5 million, benefitting from the accounting gain on the partial deemed disposition of Altus Group’s investment in Real Matters Inc. (“Real Matters”) and re-measurement of the Company’s retained interest of 12.0% after Real Matters completed their initial public offering
Adjusted earnings per share (“adjusted EPS”) increased 46.4% to $0.41
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.