Altus Group reports first quarter 2019 financial results

May 8, 2019

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Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, announced today its financial and operating results for the first quarter ended March 31, 2019. (All financial results are in comparison to the prior year.)

Q1 2019 summary

Consolidated revenues were $128.0 million, up 2.7%
Consolidated loss, in accordance with IFRS, was $0.4 million, a $1.9 million improvement from last year
Consolidated loss, in accordance with IFRS, was $0.01 per share basic and diluted, compared to $0.06 per share, basic and diluted, loss in the same period in 2018
Consolidated adjusted EBITDA1 was $13.9 million, down 10.5% reflecting quarterly variability of the Property Tax business and product development investments at Altus Analytics
Adjusted earnings per share2 (“adjusted EPS”) was $0.23, in line with the same period in 2018 Altus Analytics revenues increased 15.4% to $46.8 million and adjusted EBITDA1 increased by 19.3% to $9.8 million
Altus Analytics recurring revenues3 (as defined below) grew 23.0% to $36.4 million
Commercial Real Estate (“CRE”) Consulting revenues were down moderately to $70.7 million and adjusted EBITDA1 was $12.1 million, down by 22.8% reflecting quarterly variability of the Property Tax business

Key contact

Camilla Bartosiewicz

Chief Communications Officer

Key contact

Camilla Bartosiewicz

Chief Communications Officer

About Altus Group

Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry.

Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments.

Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.

For more information on Altus Group, please visit: www.altusgroup.com.