Recent Quarterly Results
Transcontinental Inc. announces its results for the third quarter of fiscal 2022
Montréal, September 7, 2022
"Despite continued inflationary pressures, supply chain challenges and a tight labour market, we increased both revenues and profits in the quarter," said Peter Brues, President and Chief Executive Officer of TC Transcontinental. "I am proud of the actions taken by the team to improve our performance.
"In our Packaging Sector, we recorded significant growth in revenues mainly as a result of the impact of the pass-through of raw materials costs, acquisitions and higher volume. This additional volume is the result of our investments in new equipment and innovative projects as well as the relentless work by our teams to support our customers. Combined with our initiatives to offset cost increases, the increase in volume contributed to a 15% organic growth in the sector's adjusted operating earnings before depreciation and amortization.
"Our Printing Sector produced year-on-year revenue growth for the sixth consecutive quarter. Consistent with previous quarters, this growth was mainly driven by our in-store marketing, book printing and premedia activities. This demonstrates the positive evolution of our portfolio of activities.
"I am very pleased with the acquisition of ERPI in our Media Sector as it complements our educational products and services offering, both print and digital. The timing of the transaction, combined with the seasonality of the educational publishing business, contributed to an increase in both revenues and profit in the sector for the quarter.
"Our financial position remains solid, with no major debt maturities until 2025, giving us the flexibility to pursue our disciplined approach to profitable growth."