Altus Group reports second quarter 2021 financial results
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 second quarter ended June 30, 2021.
Q2 2021 summary
Consolidated revenues were $173.5 million, up 11.6% (16.5% on a constant currency basis)
Consolidated profit from continuing operations, in accordance with IFRS, was $16.3 million, up 44.2%
Consolidated earnings per share from continuing operations, in accordance with IFRS, was $0.40 per share, basic and $0.39 per share, diluted, compared to $0.28 per share, basic and diluted
Consolidated Adjusted EBITDA was $42.2 million, up 21.0% (26.2% on a constant currency basis)
Adjusted EPS was $0.75, up 21.0% from $0.62
Altus Analytics revenues were $59.3 million, up 15.7% (25.8% on a constant currency basis), of which Over Time revenues were $50.1 million, up 17.2% (26.6% on a constant currency basis), while Adjusted EBITDA was $8.9 million, up 9.5% (24.2% on a constant currency basis)
Altus Analytics Bookings totaled $22.1 million, up 72.3% (88.7% on a constant currency basis), of which organic growth in Bookings was 63.4% (79.7% on a constant currency basis)
CRE Consulting revenues were $114.3 million, up 9.6% (12.0% on a constant currency basis) and Adjusted EBITDA was $42.4 million, up 24.8% (26.9% on a constant currency basis), driven by record performance at Property Tax which included a $25.7 million contribution from the U.K. annuity billing
At the end of the quarter Bank debt was $248.8 million (representing a funded debt to EBITDA leverage ratio of 2.03 times) and cash and cash equivalents was $74.1 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 Commercial Real Estate Consulting, 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 2,600 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, please visit www.altusgroup.com.