- Increase in revenues and earnings in the Packaging Sector and the Media Sector.
- Revenues of $802.2 million for the quarter ended October 30, 2022; operating earnings of $85.3 million; and net earnings attributable to shareholders of the Corporation of $60.4 million ($0.70 per share).
- Adjusted operating earnings before depreciation and amortization (1) of $141.1 million for the quarter ended October 30, 2022; adjusted operating earnings(1) of $99.1 million; and adjusted net earnings attributable to shareholders of the Corporation (1) of $68.4 million ($0.79 per share).
- Significant contributions from the acquisitions completed during the fiscal year to the earnings of the Corporation.
(1) Please refer to the section entitled "Non-IFRS Financial Measures" in this press release for a definition of these measures.
Montréal, December 13, 2022 - Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the fourth quarter and fiscal year 2022, which ended October 30, 2022.
"Excluding the impact of the 53rd week and the Canada Emergency Wage Subsidy on prior year's results, we posted solid growth in net earnings in the fourth quarter," said Peter Brues, President and Chief Executive Officer of TC Transcontinental. "In a challenging environment, our coworkers remained focused on making our clients successful and improving our performance.
"Building on the momentum of the previous quarters, our Packaging Sector recorded over 10% growth in adjusted operating earnings before depreciation and amortization on a comparable basis. With our investments in equipment and innovation, we are committed to continuing our profitable growth.
"In our Printing Sector, we are pleased to see continued growth in our in-store marketing, book printing, and premedia activities. However, inflationary pressures and their impact on our volume and cost structure had a negative effect on our results.
"In fiscal 2023, we will remain focused on improving profitability and cash flows from operating activities. Our solid financial position, with no major debt maturities until 2025, gives us the flexibility to pursue our disciplined approach to profitable growth."
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