INCREASE IN SALES OF 6.4% IN THE SECOND QUARTER AND TWO NEW ACQUISITIONS FOR A TOTAL OF SIX IN THE FIRST HALF
HIGHLIGHTS OF THE SECOND QUARTER ENDED MAY 31, 2025
Sales of $512.2 million, up 6.4%, including $275.8 million in Canada and US$168.1 million in the United States, up 11.7% ($US).
EBITDA of $55.2 million - EBITDA margin of 10.8%.
Net earnings attributable to shareholders of $22.5 million, or $0.41 per diluted share.
Adjusted cash flows from operating activities of $46.8 million.
Expansion : two acquisitions (Quebec -- New Jersey)
FIRST-HALF
Sales of $953.9 million, of which $517.4 million in Canada and US$307.9 million in the United States.
EBITDA of 97.6M$ - EBITDA margin of 10.2%.
Net earnings attributable to shareholders of $36.4 million, or $0.66 per diluted share.
Adjusted cash flows from operating activities of $84.1 million.
Healthy and solid financial situation as at May 31, 2025, with working capital of $614.2 million (ratio of 2.9:1).
Quarterly dividend of $0.1533 per share payable on August 7, 2025, to shareholders registered as of July 24, 2025.
MONTREAL, July 10, 2025 /CNW/ - (TSX:RCH) "All our market segments in the United States delivered a strong performance in the second quarter driving an 11.7% increase in sales, of which 5.1% was attributable to acquisitions and 6.6% to internal growth. Starting in May, part of this internal growth came from price adjustments applied to reflect the new tariffs on imports, representing essentially a cost pass-through with no impact on gross margin. In Canada, although market conditions were less favorable, overall sales remained relatively stable compared to the second quarter of 2024, despite a decline in Ontario where the business environment was more challenging. We completed two business acquisitions during the quarter, bringing the total to six since the beginning of the fiscal year, for additional annualized sales of over $53 million. Beyond their contribution to revenue, these acquisitions strengthen our North American distribution network and support the diversification of our market segments, the complementarity of our offering, the creation of synergies, and the enhancement of our value-added service. We remain fully committed to executing our strategies focused on innovation, acquisitions, and customer service, the main drivers of our growth," said Mr. Richard Lord, President and Chief Executive Officer.
NORTH AMERICAN NETWORK EXPANSION: SIX NEW ACQUISITIONS IN THE FIRST HALF AND EXPANSION OF THE DETROIT CENTER WITH AN ENHANCED OFFERING TO SUPPORT GROWTH
Following the four acquisitions completed in the first quarter, including one in Canada and three in the United States, Richelieu completed the acquisitions of Rhoads & O'Hara Architectural Products on April 1 and Les industries Camcoat on May 1. Through these acquisitions, the Corporation added to its network a specialist in exclusive architectural panels and related products operating a distribution centre in Vineland, New Jersey, enabling close collaboration with high-end architects, designers, and architectural woodworkers, as well as a distributor of wood finishing products for the industrial market, operating in the Greater Montreal area. This one further reinforces the development of our North American finishing products distribution network, which has been firmly established for more than 20 years. In total, the six acquisitions completed in the first half of 2025 represent over $53 million in additional annualized sales. Furthermore, as part of its ongoing network improvement plan, the Corporation completed a more than 50,000-square-foot expansion of its Detroit distribution centre during the quarter, in order to broaden its offering with new product lines and meet the needs of its growing business.
OPERATING RESULTS FOR THE SECOND QUARTER AND FIRST SIX MONTHS ENDED MAY 31, 2025
The following table provides an overview of Richelieu's sales in its two main markets for the quarters ended May 31, 2025 and 2024 :
Quarters ended May 31
2025
2024
∆ %
(in millions of dollars, except exchange rates)
Total
Internal
Acquisitions
Consolidated
512.2
481.4
6.4
3.2
3.2
Manufacturers
456.4
427.5
6.8
3.2
3.6
Retailers
55.8
53.9
3.5
3.5
—
Canada
