CanWel Building Materials Group Ltd. (“CanWel”) announced its 3Q 2019 financial results. For the three-month period ended September 30, 2019, consolidated revenues increased by 6.6% to $373.2 million when compared to $350.2 million in the same period in 2018.
Gross margin dollars increased by 3% to $52.3 million, compared to $50.8 million during the corresponding period in 2018. Gross margin percentage was slightly lower at 14% of revenues versus 14.5% during the same period in 2018.
EBITDA and Adjusted EBITDA for the period amounted to $25 million and $25.3 million, respectively, compared to $20.1 million during the 3Q 2018. EBITDA and Adjusted
EBITDA during the 3Q 2019 was impacted by the adoption of IFRS 16, in the amount of $5.1 million.
CanWel is the leading distributor for building materials in Canada.
