The following is a summary of the Savaria Corporation (SISXF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Savaria Corporation reported Q1 2024 revenue of $209.4 million, primarily due to divestitures but partially offset by organic growth.
Gross margin reaching record levels of 36% compared to 34% in Q1 2023.
North American accessibility revenue experienced an overall growth of 11%.
EBITDA margins stand at $34.7 million and 16.6%, marking an improvement from the previous year.
Business Progress:
Initiatives like 'Access Plus' and 'Savaria One' have improved profitability despite a minor decrease in revenues.
The company aims to achieve a growth target of $1 billion by 2025 through operational improvements and potential acquisitions.
Savaria expects growth in its European market and a continuous organic growth in the North American market.
The company is investing in programs like Savaria One to enhance efficiencies, operational flow, and expects some product-related improvements in Q2.
Savaria acquired Matot to expand its product portfolio, aiming to broaden the market for these products with its larger dealer network.
More details: SAVARIA CORP IR
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