Altus Group reports fourth quarter and full year 2019 financial results

February 20, 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 industry, announced today its financial and operating results for the fourth quarter and year ended December 31, 2019.

Q4 2019 summary

Consolidated revenues were $148.8 million, up 13.7%
Consolidated profit, in accordance with IFRS, was $0.3 million, a $15.0 million improvement
Consolidated earnings per share, in accordance with IFRS, was $0.01 basic and diluted, compared to ($0.38), basic and diluted
Consolidated adjusted EBITDA1 was $23.5 million, up 55.3%
Adjusted earnings per share2 (“adjusted EPS”) was $0.43, compared to $0.20
Altus Analytics revenues increased 5.3% to $54.6 million (reflecting a tough compare from the previous year), and adjusted EBITDA1 was down 48.0% to $5.3 million reflecting higher mix of subscription revenues and higher development costs
Altus Analytics recurring revenues3 (as defined below) grew 21.1%4 to $40.9 million

2019 full year summary

Consolidated revenues were $567.4 million, up 11.2%
Consolidated profit, in accordance with IFRS, was $18.2 million, up 198.7%
Consolidated earnings per share, in accordance with IFRS, was $0.46 basic and $0.45 diluted, compared to ($0.48), basic and diluted
Consolidated adjusted EBITDA1 was $88.1 million, up 24.3%
Adjusted earnings per share2 (“adjusted EPS”) was $1.47, compared to $1.05
Altus Analytics revenues grew 10.1% to $202.0 million, and adjusted EBITDA1 was $36.8 million, down 11.3% reflecting higher mix of subscription revenues and higher development costs
Altus Analytics recurring revenues3 (as defined below) grew 18.0% to $153.6 million
Commercial Real Estate (“CRE”) Consulting revenues grew 14.2% to $324.1 million and adjusted EBITDA1 grew by 55.8% to $76.1 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 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.