Aegis Brands Reports First Quarter Results
Highlights:
- System sales of
$31.6 million in the first quarter increased by 17.2% over the prior year - Same store sales increased by 12.9% in the quarter.
- EBITDA from continuing operations for the quarter was
$1.0 million compared to$0.8 million last year. - Net loss from continuing operations for the quarter was
$0.2 million or$0.00 per share compared to a loss of$0.6 million or$0.01 per share last year. - Aegis closed the previously announced sale of the assets of Bridgehead Coffee on
March 8 th, 2024.
"
The first Wing City locations opened in
Bridgehead
On
"This strategic divestiture allows us to focus on the momentum of the St. Louis brand. We know there is significant growth yet to be realized with this brand and we are creating shareholder value with this great asset." said Pelton.
Aegis is focused on increasing shareholder value by building and evolving its brands to have second-to-none store level economics. The company's goal is to provide franchisees with brands that are the best investment option for their time and money. "We invested in
Aegis measures the success of its business in part by employing several key performance indicators referenced herein that are not recognized under IFRS, including same store sales and EBITDA. These indicators should not be considered an alternative to IFRS financial measures, such as net income, and are presented in this presentation because management of Aegis believes that such measures are relevant in interpreting the performance of its business. As non‐IFRS financial measures do not have standardized definitions prescribed by IFRS, they are less likely to be comparable with other issuers or peer companies. A description of the non‐IFRS measures used by Aegis in measuring its performance and a reconciliation of certain non‐IFRS measures to the nearest IFRS measure is included in Aegis' management's discussion and analysis for the year ended
This press release contains forward-looking statements within the meaning of Canadian securities laws. The forward-looking statements included in this press release, including statements regarding the nature of Aegis' growth strategy going forward and Aegis' execution on any of its potential plans (including with respect to the growth and development of
Risks and uncertainties that may cause such differences include but are not limited to: risks related to the company's strategy going forward; risks related to the rising interest rates and inflationary pressures on the cost of doing business; and other risks inherent in the industry in which Aegis operates. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Additional information on these and other factors that could affect Aegis' operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedarplus.ca).
The forward-looking statements in this press release are made as of the date it was issued and Aegis does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For more information, please visit aegisbrands.ca.
SOURCE