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Enter Symbol
or Name
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Titanium Transportation Group Inc
Symbol TTR
Shares Issued 30,288,088
Close 2015-05-25 C$ 3.00
Market Cap C$ 90,864,264
Recent Sedar Documents

Titanium Trans unit talks EBITDA, omits Q1 P&L

2015-05-26 07:18 ET - News Release

Mr. Ted Daniel reports

TITANIUM TRANSPORTATION GROUP ANNOUNCES RECORD QUARTER, REPORTS 68% INCREASE IN REVENUE

Titanium Transportation Group Holdings Ltd., a wholly owned subsidiary of Titanium Transportation Group Inc., has provided highlights of the company's first quarter 2015 financial results.

Revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) growth summary

  • Revenue for the quarter rose to $24.0-million, a 68-per-cent increase over the first quarter of 2014.
  • EBITDA for the quarter rose to $2.8-million, a 145-per-cent increase over the first quarter of 2014.
  • Annualized run rate total revenue and EBITDA in excess of $115-million and $13-million.

Segment highlights

  • Truck transportation revenue rose to $14.7-million, a 63-per-cent increase over the first quarter of 2014.
  • Truck transportation EBITDA margin increased to 15.9 per cent, from 11.5 per cent in the first quarter of 2014.
  • Logistics revenue rose to $9.4-million, a 74-per-cent increase over the first quarter of 2014.
  • Logistics EBITDA margin increased to 10.5 per cent, from 6.2 per cent in the first quarter of 2014.

Mergers and acquisitions summary

  • Titanium acquired Muskoka Transport Ltd. on March 1, 2015.
  • Muskoka contributed revenues of $2.8-million and EBITDA of $200,000 in the first quarter of 2015.
  • M&A pipeline of asset-based truckload companies.

Ted Daniel, chief executive officer of Titanium, commented: "We are pleased to announce record results for the first quarter of 2015 including a significant increase in operating margins. These results are particularly positive, as the first quarter is historically our weakest due to industry seasonality. We would also like to thank all of our employees and drivers for their contribution in making this quarter a success. Our strong corporate culture and best-in-class operating team is what allows us to continue to execute our growth and consolidation strategy successfully."

Full financial results are available on SEDAR.

In its truck transportation (truckload) division, Titanium is consolidating a large and fragmented market of asset-based trucking companies. Once acquired, Titanium is using its leading-edge customized technology to integrate acquisitions and increase profitability. To date, Titanium has completed seven asset-based trucking acquisitions with annualized revenue of $65-million.

In its logistics division, Titanium has grown organically using customized software and continuing technology initiatives to provide a competitive edge in sourcing business.

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