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Lassonde Industries Inc. announces its Q1-2025 results
GlobeNewswire·2025-05-08 21:11

Core Viewpoint - Lassonde Industries Inc. reported strong financial results for Q1 2025, with significant growth in sales and operating profit despite ongoing market uncertainties [3][4]. Financial Performance - Sales reached 699.7million,anincreaseof699.7 million, an increase of 129.8 million (22.8%) compared to 569.8millioninQ12024[2].−Grossprofitwas569.8 million in Q1 2024 [2]. - Gross profit was 183.2 million, representing 26.2% of sales, up from 149.6million,ariseof149.6 million, a rise of 33.6 million (22.4%) year-over-year [2][4]. - Operating profit increased to 42.7million,up42.7 million, up 8.1 million (23.4%) from 34.6millioninthesamequarterlastyear[2][4].−Profitattributabletoshareholderswas34.6 million in the same quarter last year [2][4]. - Profit attributable to shareholders was 24.5 million, slightly up from 23.8million,withanEPSof23.8 million, with an EPS of 3.60, reflecting a 2.9% increase [2][7]. - Adjusted EBITDA was 71.5million,ariseof71.5 million, a rise of 19.1 million (36.4%) from 52.4millioninQ12024[2][7].SalesGrowthDrivers−ExcludingtheimpactofSummerGardenandforeignexchangefluctuations,salesgrewby9.352.4 million in Q1 2024 [2][7]. Sales Growth Drivers - Excluding the impact of Summer Garden and foreign exchange fluctuations, sales grew by 9.3%, driven by U.S. volume recovery and price adjustments in Canada [3][4]. - Canadian brands gained market share due to innovation and effective merchandising, despite overall industry volume contraction [3]. Outlook and Strategy - The company anticipates a sales growth rate of approximately 10% for 2025, driven by a full year of Summer Garden results and planned price adjustments [8]. - Lassonde is focused on executing its strategy, expanding capacity, and leveraging its diversified product portfolio to enhance its presence in the North American food and beverage market [3][8]. Financial Position - As of March 29, 2025, total assets were 2,374.4 million, a 4.2% increase from 2,277.8millionattheendof2024[7].−Long−termdebtstoodat2,277.8 million at the end of 2024 [7]. - Long-term debt stood at 612.5 million, with a net debt to adjusted EBITDA ratio of 1.99:1, reflecting a 135.0millionincreasefromthepreviousyear[7][26].−Operatingactivitiesused135.0 million increase from the previous year [7][26]. - Operating activities used 60.1 million in cash, compared to 11.3milliongeneratedinthesamequarterlastyear,primarilyduetochangesinworkingcapital[7].DividendInformation−TheBoardofDirectorsdeclaredaquarterlydividendof11.3 million generated in the same quarter last year, primarily due to changes in working capital [7]. Dividend Information - The Board of Directors declared a quarterly dividend of 1.10 per share, payable on June 13, 2025 [17]. Company Overview - Lassonde Industries Inc. is a leader in the North American food and beverage industry, offering a wide range of products including fruit juices, specialty foods, and snacks [28][30].