Altus Group reports third quarter 2018 financial results
Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, announced today its financial and operating results for the third quarter ended September 30, 2018.
Q3 2018 summary
Consolidated revenues were $120.6 million, up 3.0%
Consolidated adjusted EBITDA was $16.5 million, down 29.2% reflecting quarterly variability of the Property Tax business and product development investments at Altus Analytics
Altus Analytics revenues increased 9.1% to $44.1 million and adjusted EBITDA decreased by 14.7% to $10.1 million reflecting continued investments
Altus Analytics recurring* revenues (as defined below) grew 22.7% to $34.2 million
Commercial Real Estate (“CRE”) Consulting revenues were up moderately to $65.3 million and adjusted EBITDA was $11.2 million, down by 41.2% reflecting quarterly variability of the Property Tax business
Consolidated loss, in accordance with IFRS, was $1.7 million
Adjusted earnings per share (“adjusted EPS”) decreased 35.3% to $0.22
Acquired Taliance Group SAS (“Taliance”), enhancing Altus Analytics offerings with global cloud-based solutions for alternative investment market
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 independent advisory services, software and data solutions 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.