Xebec Revenues Accelerate 136 Percent Over Quarter

Cleantech Investing

As the company expands across Asia, Europe and North America large industrial orders are driving revenues upward, with gains in EBITDA.

Xebec Adsorption (TSXV:XBC), cleantech company witnessed revenues soar over the quarter to C$35.7 million, up 136 percent year-over-year. As industrial orders increased, net income ticked up to C$0.02 per share while earnings before interest, tax, depreciation and amortization (EBITDA) footed C$1.5 million.

As quoted in the news release:

Financial Results

  • Revenues of $35.7 million for the nine-month period ended September 30, 2019, compared to $14.1 million for the same period in 2018, a 153% increase. The increase is mainly explained by the higher volume of major cleantech contracts.

  • Gross profit of $11.4 million or 32% of revenues for the nine-month period ended September 30, 2019, compared to $4.2 million for the same period in 2018, a 171% increase compared to the same period in 2018. The company has higher gross margins in the cleantech segment and a better absorption of the overhead costs due to a higher volume of sales.

  • Net profit of $2.5 million or $0.04 per share for the nine-month period ended September 30, 2019, compared to a net loss of ($1.9) million or ($0.04) per share for the same period in 2018, an improvement of $4.4 million. The increase is mainly due to higher sales and margins.

  • Positive EBITDA of $4.4 million for the nine-month period ended September 30, 2019, compared to ($0.4) million for the same period in 2018, an increase of $4.8 million.

  • Backlog increased by $5.5 million, from $65.5 million on November 8, 2018, to $71.0 million on November 11, 2019.

Click here to read the full press release.

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