Titanium Transportation Achieves Record Revenue Of ~$Four Hundred Million And Record Adjusted EBITDA

BOLTON, Ontario, March 08, 2022 (GLOBE NEWSWIRE) — Titanium Transportation Group Inc. (“titanium tubing” or the “Company”) (TSXV:TTR), a leading supplier of transportation and logistics providers all through

North America, is pleased to report its financial outcomes for the three and twelve month periods ended December 31, 2021. All quantities are in Canadian foreign money.

Fourth quarter 2021 results cap a yr of information for Titanium, delivering document consolidated income for the sixth consecutive quarter, reaching $111.3 million. The company exceeded elevated 2021 income steerage delivering the very best full year income in the Company’s history at $399.Four million, nearly double its full year revenue in 2020.

“Our robust outcomes demonstrate our potential to navigate and adapt by difficult circumstances to serve our North America trucking and logistics clients. We completed the largest acquisition in our Company’s historical past. Successfully expanded into new U.S.S. markets, to achieve file high line income progress of about $400 million,” said Ted Daniel Chief Executive Officer, Titanium Transportation Group. “With our distinctive staff, we continued to invest in, know-how, belongings and our people enhancing our capacity to execute on close to-term development opportunities to create sustainable shareholder value.”

FY 2021 Financial Highlights in contrast with FY 2020

Record consolidated income of $399.Four million — a rise of 99% — exceeding 2021 steering

Adjusted EBITDA(2) of $31.Three million — a rise of 35.5% — and an Adjusted EBITDA Margin(2) of 8.7% which incorporates $2.5 million in non-recurring acquisition integration costs related to the purchase of ITS and ITS working losses of approximately $1.9 million, the Adjusted EBITDA is in-line with 2021 steerage.

In FY 2021, the company returned a total of $3.Four million to shareholders by means of dividends

Q4 2021 Financial Highlights in contrast with Q4 2020

Record consolidated revenue of $111.3 million — an increase of 69.0%

Adjusted EBITDA(2) of $8.9 million — a rise of 34.5% — adjusted EBITDA Margin(2) of 8.7%

Logistics section income of $68.2 million — an increase of 68.7% — including US freight brokerage income of $44. Should you have any concerns with regards to in which in addition to how to employ titanium tube sale, you can e-mail us on the web page. 6 million which increased 84.3%

Logistics phase Adjusted EBITDA of $4.8 million – Adjusted EBITDA Margin of 7.6%

Truck Transportation segment revenue of $44.5 million — enhance of 66.0% and Adjusted EBITDA(2) $4.Eight million — improve 24.3% — an Adjusted EBITDA Margin of 12.3%

Daniel continued, “During the quarter, we efficiently completed the combination of ITS and made glorious progress bettering margins and profitability as we realized operational efficiencies in Trucking. Looking forward to 2022, we anticipate our section margins and profitability to return as we optimize our mixed fleet. As Logistics margins continued to further normalize throughout the quarter, we also targeted on managing our pricing to handle ongoing rising industry prices and improve our technologies to permit us to effectively scale our logistics expansions.

“Looking forward, we’ll continue to adapt to the evolving economy and difficult situations with respect to inflationary pressures, ongoing challenges in the global supply chain and titanium tube sale tighter labour markets. With the assist of our skilled and dedicated group Titanium remains exceptionally nicely positioned to navigate these circumstances with the dimensions and a technology-based mostly platform to ship organic development and logistics solutions for our prospects.”

2022 Outlook

Titanium is nicely-positioned to leverage its capacity, expertise and applied sciences via 2022. The company estimates it should ship consolidated prime line revenue between $450 – $470 million and between $38 – $forty three million in EBITDA.

As well as, with a solid stability sheet and disciplined focus, the company remains dedicated to exploring further acquisition and growth alternatives within the U.S. and Canada as they come up in 2022.

Summary of Q4 2021 Financial Results (in hundreds $CAD)

Q4 2021

Q4 2020

2021

2020

% Change

Consolidated Results

111,283

65,849

69.0%

399,443

200,742

99.0%

19,725

58.7%

8,783

6,529

34.5%

31,304

23,095

35.5%

8.7%

10.4%

8.6%

12.2%

Adjusted Net Income (2)

2,896

73.9%

Adjusted Net Income per share(2)

0.08

Net Income

1,362

2,094

-35.0%

5,035

6,266

-19.6%

Net Income per share

0.04

0.06

0.12

0.17

Truck Transportation

44,526

26,825

66.0%

171,245

106,255

61.2%

Adjusted EBITDA

16,215

8.0%

Adjusted EBITDA Margin

16.2%

4,791

3,854

24.3%

17,513

18,555

-5.6%

12.3%

15.2%

11.5%

18.6%

Logistics

Revenue

68,152

40,387

68.7%

232,311

99,004

134.6%

Adjusted EBITDA(2)

5,394

214.6%

Adjusted EBITDA Margin(1)(2)

5.7%

EBITDA

4,831

3,271

47.7%

16,968

6,424

164.1%

EBITDA margin(1)

7.6%

8.5%

7.8%

6.9%

1)

EBITDA margin is calculated as EBITDA as a percentage of revenue before gasoline surcharge.

2)

Adjusts for the subsidies received underneath the Canadian Emergency Wage Subsidy program, which equated to $0.1 million (2020- $3.Four million) on a consolidated basis. In 2020, $2.Four million was acquired for the Truck Transportation segment and $1.Zero million for the Logistics segment.

Shareholder Return and Capital Allocation Program

Titanium focuses on prudently balancing inside capital needs while rewarding shareholders by means of a predictable return on funding. With the power of the Company’s balance sheet and management’s confidence in the earnings outlook in 2021, Titanium returned a total $3.Four million to shareholders in via dividends declared, or $0.08 per common share (2020 – $0.7 million). Subsequent to the December 31, 2021, the company declared dividends of $0.02 per frequent share payable on March 15, 2022 to shareholders as of end of business on February 28, 2022.

Conference Call

The corporate can even hold a convention call on Wednesday, March 9, 2022, at 8:00 a.m. Eastern Time, to debate these outcomes. Business media are also invited to listen to the decision.

Dial-In Details:

Interested events can be a part of the decision by dialing 1-877-291-4570 (North America) or 1-647-788-4919 (International).

Replay Details:

A replay of the conference name will be accessed till midnight on March 23, 2022 by dialing 1-800-585-8367 (North America) or 1-416-621-4642 (International) and getting into the Conference ID: 6788524.

About titanium tube

Titanium is a number one asset-based mostly transportation and logistics company servicing Canada and the United States, with approximately 800 energy items, 3,000 trailers and 1,one hundred employees and independent proprietor operators. Titanium provides truckload, devoted, and cross-border trucking services, freight logistics, and warehousing and distribution to over 1,000 clients. In February 2021, Titanium completed its strategic acquisition of International Truckload Services Group, establishing Titanium amongst the most important Canadian transportation companies. Titanium is a recognized consolidator of asset-based transportation corporations in Ontario, having accomplished eleven (11) asset-based trucking acquisitions since 2011. Titanium has additionally been ranked by Canadian Business (previously Profit journal) as one in all Canada’s Fastest Growing Companies for twelve (12) consecutive years.

NON-IFRS Financial MEASURES

The following financial measures do not have any standardized which means under IFRS and will not be comparable to related measures employed by different firms:

“Earnings before curiosity, income taxes, depreciation and amortization” (“EBITDA”) is calculated as internet income before depreciation, amortization, asset impairments, positive aspects or losses on the sale of gear, finance earnings and costs, good points or losses on international trade, income tax expense, transaction costs, accelerated buyer list amortization and goodwill impairment.

“EBITDA margin” is calculated as EBITDA as a proportion of income earlier than fuel surcharge.

“Free money flow” is calculated as money circulation from operations plus proceeds from finance lease receivables and proceeds from disposition, much less capital expenditures.

“Adjusted net income” is calculated as internet revenue before items that aren’t in the traditional course of enterprise, akin to accelerated buyer record amortization and goodwill impairment.

Management of the company believes that these financial measures are useful for traders and different readers, when used at the side of other IFRS financial measures, as they are measurers used internally by administration to guage performance. However, these financial measures are meant to offer additional data and should not be thought of in isolation or instead for measures of financial performance ready in accordance with IFRS.

CAUTIONARY Statement Regarding Forward-Looking STATEMENTS

Certain statements contained on this press release represent forward-trying info inside the meaning of Canadian securities laws. Forward-trying statements are provided for the purposes of assisting the reader in understanding Titanium’s current expectations and plans relating to the future and readers are cautioned that such statements will not be appropriate for other functions. Forward-looking data could relate to Titanium’s future outlook and anticipated occasions, and will embody statements regarding the financial position, business technique, budgets, litigation, projected prices, capital expenditures, monetary results, taxes and plans and goals of or involving Titanium. Particularly, statements relating to future acquisitions, the availability of credit, efficiency, achievements, prospects or opportunities for Titanium or the business during which it operates are forward-looking statements. In some cases, forward-looking information will be recognized by phrases corresponding to “may”, “would possibly”, “will”, “may”, “ought to”, “would”, “happen”, “anticipate”, “plan”, “anticipate”, “believe”, “intend”, “search”, “aim”, “estimate”, “goal”, “undertaking”, “predict”, “forecast”, “potential”, “continue”, “seemingly”, “schedule”, or the destructive thereof or other related expressions regarding issues that aren’t historical information.

Information contained in forward-trying statements relies upon certain material assumptions that have been applied in drawing a conclusion or making a forecast or projection, together with administration’s perceptions of historical trends, present situations and anticipated future developments, as well as other issues that are believed to be applicable in the circumstances. While administration considers these assumptions to be reasonable primarily based on at the moment obtainable data, they might prove to be incorrect.

The ahead-looking statements made on this press launch are dated, and relate solely to occasions or data, as of the date of this press release. Except as particularly required by regulation, Titanium undertakes no obligation to update or revise publicly any ahead-trying statements, whether as a result of recent information, future occasions or in any other case, after the date on which the statements are made or to replicate the prevalence of unanticipated occasions.