For the year ended December 31, 2018, CanWel Building Materials Group’s (“CanWel”) consolidated revenues increased by 13.7% to $1.3 billion when compared to $1.1 billion in the same period in 2017, as the company said in the press release received by Lesprom Network.
For 2018, gross margin increased by 26.7% to $192.9 million, compared to $152.2 million during the corresponding period in 2017. Gross margin percentage also increased to 14.9% of revenues versus 13.4% in 2017. This increase in margin dollars and margin percentage reflects the positive impacts from the Honsador acquisition, as well as higher construction materials pricing earlier in 2018, which were impacted by the significant decline in the second half of 2018.
Adjusted EBITDA for the full year increased by 13.1% to a record $72 million, compared to $63.6 million in 2017. EBITDA was impacted by one-time acquisition costs in both 2018 and 2017, and one-time restructuring costs and an impairment loss on property, plant and equipment in 2017, resulting in EBITDA amounting to $71.2 million in 2018, versus $58.8 million in 2017.
As a result, net earnings increased by 4.2% to $30 million in 2018, when compared to $28.8 million in 2017.
CanWel is Canada’s only fully integrated national distributor in the building materials and related products sector.
