Altus Group Reports fourth quarter and full year 2018 financial results

February 21, 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 fourth quarter and year ended December 31, 2018. (All financial results are in comparison to the prior year.)

Q4 2018 summary


  • Consolidated revenues were $130.9 million, up 7.0%

  • Consolidated loss, in accordance with IFRS, was $14.7 million ($0.38 per share basic and diluted)

  • Consolidated adjusted EBITDA was $15.1 million, down 24.2% reflecting quarterly variability of the Property Tax business

  • Adjusted earnings per share (“adjusted EPS”) increased 33.3% to $0.20

  • Altus Analytics revenues increased 24.9% to $51.8 million and adjusted EBITDA increased by 52.3% to $10.3 million

  • Altus Analytics recurring* revenues (as defined below) grew 15.0% to $34.4 million

  • Commercial Real Estate (“CRE”) Consulting revenues decreased by 2.5% to $67.7 million and adjusted EBITDA was $2.8 million, down by 63.9% reflecting revenue variability of the Property Tax business



Full year 2018 summary


  • Consolidated revenues were $510.4 million, up 7.1%

  • Consolidated loss, in accordance with IFRS, was $18.4 million ($0.48 per share basic and diluted)

  • Consolidated adjusted EBITDA was $70.9 million, down 12.1% reflecting revenue variability of the Property Tax business and investments at Altus Analytics

  • Adjusted EPS decreased 5.4% to $1.05

  • Altus Analytics revenues increased 9.4% to $183.4 million and adjusted EBITDA decreased by 11.4% to $41.5 million reflecting investments

  • Altus Analytics recurring* revenues (as defined below) grew 10.3% to $130.1 million, representing approximately 70% of total Altus Analytics revenues

  • CRE Consulting revenues increased by 8.7% to $283.9 million and adjusted EBITDA decreased by 6.8% to $48.8 million, impacted by revenue variability of the Property Tax business

  • Returned $23.5 million to shareholders through quarterly dividends of $0.15 per share, or $0.60 per share for the year

  • Completed three tuck-in acquisitions, New Market Real Estate, Aspect Property Consultants and Taliance

Key contact
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Camilla Bartosiewicz

Chief Communications Officer

Key contact
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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.

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