regina, ski, December 6, 2021 /CNW/ – SSC Safety Providers Company (previously Enter Capital Company) (“SSC” both “firm) (TSXV: SECU) (OTCQX: SECUF), a number one supplier of bodily and cyber safety companies, is happy to launch its outcomes for the fiscal yr ended 2021. September 30, 2021, All figures are introduced in Canadian {dollars}.

“As I wrote in my . October 4 Letter to shareholders, our pivot to the safety {industry} is progressing quickly,” stated the President and CEO Doug Emsley, “Within the final monetary yr, we’ve got made two acquisitions, considerably liquidated our outdated agri enterprise and develop into a powerful participant within the bodily and cyber safety industries.

“Our rebranding is full, and our steadiness sheet makes us top-of-the-line capitalized corporations within the Canadian safety {industry}. Our senior administration group has over 70 years of expertise constructing and working worthwhile safety corporations, And as we enter a brand new fiscal yr, we stay up for leveraging that have and steadiness sheet to create worth for our shareholders.”

FY2021 Highlights

  • In the course of the yr, we lowered our agricultural ebook by greater than $44 million about $24.4 millionpaid $5.2 million In long-term debt, we purchased again 1.6 million shares excellent via NCIB, elevated from 9 staff to roughly 625 staff, and elevated our money place by approx. $1.5 million, As well as, we moved from the agriculture {industry} to the safety {industry} with two acquisitions:
    • Feather February 1, 2021we achieved SRG Safety Useful resource Group Inc. (“SRG”), a number one Canadian cyber safety and bodily safety firm based mostly in Canada Regina, SaskatchewanFor $19.4 million, topic to regular working capital and holdback changes. of that buy worth, $12.3 million was paid in money and eight,883,930 shares had been issued at honest worth, as on the date of acquisition $7.1 million,
    • Feather 10 July 2021The corporate has finalized an asset buy settlement with Influence Safety Group Inc. (“IMPACT”) to buy all IMPACT Safety and Guard contracts within the province Saskatchewan, Canada, the acquisition worth was $2.0 millionwith $1.35 million The money cost at closing and the steadiness is to be paid as earnings based mostly on the efficiency of the contracts over the subsequent twelve months.
  • Full yr file income $20.3 millionTogether with solely eight months of security-related income for the reason that SRG acquisition was closed February 1, Safety income represented 58.4% of income within the fiscal yr.
  • complete internet revenue after tax of $1.9 million for your complete monetary yr.
  • Adjusted EBITDA of $2.9 million ,$0.05 per share) for your complete monetary yr.
  • improve our money place by $1.5 million on the time of cost $5.2 million In long-term debt, our whole debt is roughly $2.5 million, After the tip of the yr, we made one other cost $2.065 million In debt.
  • paid quarterly dividend of $0.01 per share, or $0.04 per share yearly.
  • we ended the fiscal yr ended 30 September with:
    • money and money equivalents of $28.8 million,
    • receivable loans and mortgages $12.5 million,
    • whole shareholders’ fairness of $75.9 million, And
    • long run mortgage of $2.5 million,

Key efficiency indicators for comparable durations are summarized beneath:

Key Efficiency Indicators

quarter ended

30 September

monetary yr ended

30 September


2021

2020

2021

2020

income





safety income

5,437

,

11,839

,

agricultural income

444

1,551

8,436

25,588

whole income

5,881

1,551

20,276

25,588

Safety Income as a Share of Complete Income

92.5%

0%

58.4%

0%






Adjusted EBITDA

282

480

2,931

4,820

Adjusted EBITDA Per Share (Primary)

$0.00

$0.01

$0.05

$0.08






Complete Internet Revenue (Loss)

(260)

(992)

1,889

(731)

Complete Internet Earnings Per Share (Primary)

$0.00

$(0.02)

$0.03

$(0.01)

income and internet revenue

income for the monetary yr ended September 30, 2021 Have been $20.3 million in contrast with $25.6 million for a similar interval of the earlier yr. The lower in income was attributable to a decline in crop income from a shorter ebook of canola contracts this yr in comparison with final yr, partially offset by the eight months of security income ensuing from the acquisition of SRG. February 1, 2021,

income from agriculture was $8.4 million for the monetary yr ended September 30, 2021In comparison with $25.6 million for the final monetary yr. income from safety companies was $11.8 million in the course of the monetary yr. We count on agricultural revenues to proceed to say no, leading to a rise within the proportion of our income linked to safety.

streaming contract portfolio

In type of September 30, 2021We have now lively streaming contracts with 26 farmers situated primarily in Saskatchewan, We count on this quantity to drop sharply within the subsequent monetary yr, making agriculture a smaller a part of our enterprise.

steadiness sheet

The primary steadiness sheet objects are summarized beneath:

assertion of economic place

as at

September 30, 2021

as at

September 30, 2020

money

28,796

27,234

Crop curiosity and different monetary belongings

11,957

14,471

receivable loans and mortgages

12,501

29,682

Complete belongings

84,888

81,901

whole liabilities

9,021

10,873

whole shareholders fairness

75,867

71,028

frequent shares excellent

60,865

53,528

ebook worth per share

$1.25

$1.33

working capital

33,217

34,432

long run mortgage

2,540

7,748

Replace on Widespread Course Issuer Bid

Feather December 29, 2020We introduced the renewal of the Regular Course Issuer Bid (NCIB), permitting the Firm to purchase again as much as 3,400,000 of its Class A standard shares in the course of the 2021 calendar yr. Beneath our NCIB, in the course of the monetary yr ended September 30, 2021We . A complete of 1,602,409 shares had been purchased again at a mean worth of Rs. $0.87 per share (on a pre-consolidation foundation).

We consider that our shares are buying and selling in a worth vary that doesn’t adequately mirror their worth and that the acquisition of shares below NCIB will usually improve shareholder worth.

Outlook

Our ebook of canola streaming contracts continues to say no sharply as farmers make the most of low rates of interest and excessive canola costs to refinance and/or buy their contracts with us. Which means that we’ve got develop into a safety firm a lot quicker than we initially anticipated.

As well as, the steadiness of our agribusiness has shrunk to such an extent that the impression of the value of canola on our monetary outcomes could be very small. Future progress might be within the safety section, partly from natural progress as SRG wins new contracts, and thru acquisitions, as SSC and SRG search to amass different corporations in Canada’s cyber and bodily safety sector.

We plan to proceed to distribute capital to shareholders via dividends, liquidate our debt whereas sustaining stable liquidity, and stay targeted on maximizing adjusted EBITDA on a per-share foundation.

The continuing impression of the COVID-19 pandemic and uncertainty within the worldwide markets could impression the monetary efficiency of the Firm for the yr ended September 30, 2022 And, probably, past. The monetary impression will rely on the unfold and length of the pandemic and associated restrictions and authorities recommendation. We have now not seen any materials impression on our agribusiness until date, however we’ve got seen some change in buyer demand for safety companies because of COVID. Demand is low in some market segments, resembling airport safety companies, however excessive in different sectors. Given the steadiness of uncertainties, the long-term monetary impression, if any, on the corporate can’t be decided with any certainty. General, COVID-19 has not had a fabric impression on the outcomes of our agriculture enterprise or our safety enterprise.

subsequent occasions

Feather 1 October 2021, the corporate modified its title from Enter Capital Corp. to SSC Safety Providers Corp. and adjusted its ticker image on the TSX Enterprise Alternate from “INP” to “SECU” at the side of 1-for-3 share consolidation. Conserving in view this variation, the quarterly dividend has been adjusted from $0.01 per share $0.03 per share.

Feather 8 October 2021we paid $2.065 million In long run loans, leaving solely the excellent steadiness $0.475 million,

Feather November 15, 2021Firm shares began buying and selling on OTCQX United StatesBeneath the image “SECUF”.

About SSC

SSC Safety Providers Corp. is a number one supplier of bodily and cyber safety companies to company and public sector shoppers Canada, Please go to www.securityservicescorp.ca for extra info.

Neither TSX Enterprise Alternate nor its regulation service supplier (as this time period is outlined in TSX Enterprise Alternate’s insurance policies) accepts accountability for the adequacy or accuracy of this launch.

forward-looking statements

This launch comprises forward-looking statements about SSC and its enterprise. Such statements are based mostly on SSC’s administration’s present expectations and views of future occasions. In some circumstances forward-looking statements could also be recognized by phrases or phrases resembling “could”, “will”, “count on”, “plan”, “estimate”, “intend”, “doubtless”, “estimate”. “perception” or the negatives of those phrases, or different related expressions, are supposed to determine forward-looking statements. The occasions and circumstances mentioned on this launch is probably not forward-looking and consequence from identified and unknown danger components and uncertainties affecting SSC could differ materially, together with dangers associated to the safety {industry}, agro-industry, financial components and the fairness market basically. And plenty of different components past the management of SSC. Any forward-looking statements can’t be assured Ahead-looking statements and data of their nature are based mostly on assumptions and contain identified and unknown dangers, uncertainties and different components that might have an effect on our precise outcomes, efficiency or achievements, or {industry} outcomes from any future outcomes, efficiency or could differ materially from the achievements expressed or implied by such forward-looking statements or info. Accordingly, readers mustn’t place undue reliance on any forward-looking statements or info. Besides as required by relevant securities legal guidelines. Nevertheless, forward-looking statements converse solely as of the date on which they’re made and SSC undertakes no obligation to publicly replace or revise any forward-looking statements, whether or not new info, future be because of occasions, or in any other case.

,Non-IFRS Measures

SSC measures key efficiency metrics established by administration as a number one indicator of an organization’s power, utilizing sure non-IFRS efficiency measures, together with:

  • Adjusted Internet Revenue (Loss), Adjusted Internet Revenue (Loss) Per Share, Adjusted EBITDA, and Adjusted EBITDA Per Share.

The Firm makes use of these non-IFRS measures for its inner functions. These non-IFRS measures don’t have any standardized which means as decided by the IFRS, and these measures could also be calculated in a different way by different corporations. The presentation of those non-IFRS measures is meant to supply extra info and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with the IFRS. The Firm offers these non-IFRS measures to allow buyers and analysts to know the underlying working and monetary efficiency of the Firm in the identical method as is usually assessed by administration. Administration will periodically assess these non-IFRS measures and their elements to make sure that their continued use is helpful to the analysis of the underlying working and monetary efficiency of the Firm. For extra detailed info, please see Administration Dialogue and Evaluation of Inputs obtainable on the Firm’s web site at www.securityservicescorp.ca and on SEDAR at www.sedar.com.

Supply SSC Safety Providers Corp.

For extra info: Doug Emsley, President and CEO, (306) 347-1024, [email protected], Brad Farquhar, Govt VP and Chief Monetary Officer, (306) 347-7202, [email protected]

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