- News
29 August 2011
5N Plus reports record quarterly revenue, earnings, EBITDA, funds from operations, and backlog
5N Plus Inc of Montreal, Quebec, Canada has reported financial results (in Canadian dollars) for its fiscal fourth-quarter and full-year 2011 (to end May) in which revenue, earnings, EBITDA, funds from operations, and backlog all reached record levels.
Founded in 2000, 5N Plus focuses on specialty high-purity metals such as tellurium, cadmium, selenium, germanium, indium and antimony and also produces related II-VI semiconducting compounds such as cadmium telluride (CdTe), cadmium sulphide (CdS) and indium antimonide (InSb) as precursors for the growth of crystals for electronic applications, including solar photovoltaic, radiation detector and infrared markets. The firm owns materials subsidiaries including: 5N PV GmbH (Eisenhuttenstadt, Germany), Firebird Technologies Inc (Trail, BC, Canada), 5N Plus Corp (DeForest, WI, USA) and Sylarus Technologies LLC (St George, UT, USA). However, 5N Plus now operates and reports operating performance under two business segments, namely Electronic Materials and Eco-Friendly Materials.
Revenue for fiscal fourth-quarter was $119.8m, up about six-fold on $20.6m last quarter and $19.7m a year ago. Revenue for the fiscal year was $178.8m, up 153% on $70.8m a year ago.
Net earnings from continuing operations for the quarter were $10m, up on just $3.7m last quarter and $4.4m a year ago. For fiscal 2011, net earnings were $21.6m, up on $15.1m a year ago.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $19.2m, up more than three-fold on $6m last quarter and $6.2m a year ago. EBITDA for the fiscal year was $36.8m, up 60% on $22.9m for fiscal 2010.
Funds from operations (cash generated from operating activities before changes in non-cash working capital) rose to $13.1m in fiscal Q4 and $29.6m in fiscal 2011, compared with just $5.7m and $20.4m, respectively, a year ago.
The backlog of orders expected to translate into sales over the next 12 months was $253.8m at the end of May, up from the previous record of $71.2m last quarter and $52.7m a year earlier.
“With the acquisition of MCP, we have literally transformed our company into a specialty metals and chemicals powerhouse with a strong focus on clean technology markets,” says president & CEO Jacques L’Ecuyer. “We now have a much broader product portfolio and a well diversified customer base supported by operations worldwide and a strong commercial network, providing an expanded organic growth platform that we can leverage to further develop our company,” he adds.
“With revenues increasing by more than 500% in the quarter and earnings more than doubling following the acquisition of MCP, it is easy to lose sight of some of the other accomplishments that were made during the year. These include the renewal and extension of our contract with First Solar until the end of 2015, the set-up of an integrated germanium production capacity following construction and commissioning of a new facility in Trail, our investments in Sylarus, and the development of a solar module recycling facility in Wisconsin, all of which have enabled us to further strengthen our business,” L’Ecuyer comments. “We also received several awards during the year related to the clean-tech technology sector, recognizing our efforts in both recycling and sustainable development,” he notes.
5N Plus grows sales 7% year-on-year to a record $20.6m
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5N Plus’ sales match company record
5N Plus’ revenue supplemented by non-solar products as Firebird ramps up
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