Altus Group reports first quarter 2020 financial results

May 7, 2020

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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 (“CRE”) industry, announced today its financial and operating results for the first quarter ended March 31, 2020 and provided an update on its business outlook for 2020 in light of the macroeconomic uncertainty resulting from the COVID-19 pandemic.

Q1 2020 summary

Consolidated revenues were $131.3 million, up 11.9%
Consolidated profit from continuing operations, in accordance with IFRS, was $1.8 million, a $1.3 million improvement
Consolidated earnings per share from continuing operations, in accordance with IFRS, was $0.04, basic and diluted, compared to $0.01
Consolidated Adjusted EBITDA1 was $13.2 million, down 2.3%
Adjusted earnings per share1,2 (“Adjusted EPS”) from continuing operations was $0.20, compared to $0.23
Altus Analytics revenues increased 10.6% to $51.7 million and Adjusted EBITDA1 was down 5.6% to $9.3 million
Altus Analytics Over Time3 revenues (new metric for recurring revenues, as defined below) grew 17.3% to $40.1 million
CRE Consulting revenues grew 12.6% to $79.6 million and Adjusted EBITDA1 increased by 10.3% to $13.3 million
Bank debt under the recently amended bank credit facilities was $176.1 million (representing a funded debt to EBITDA leverage ratio of 1.85 times) and cash and cash equivalents was $71.2 million

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 2,200 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include many of the world’s largest commercial real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.

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