News for Saputo Inc. (SB7.BE)

The coronavirus crisis widened income inequality across the globe. According to World Bank, just like every pandemic in the past, the impact of the coronavirus...

Dublin, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The

Saputo Inc. (OTCPK:SAPIF) Q3 2021 Earnings Conference Call February 04, 2021 02:30 PM ET Company Participants Sandy Vassiadis - Investor Relations Lino Saputo - Chairman & Chief...

Revenues at $3.763 billion, down 3.3% Adjusted EBITDA at $431.1 million, up 3.4% Net earnings at $209.8 million, up 6.1%Adjusted net earnings excluding amortization of intangible assetsrelated to business acquisitions at $227.8 million, down 0.6% MONTRÉAL, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Saputo Inc. (TSX: SAP) (Saputo or the Company) reported today its financial results for the third quarter of fiscal 2021, which ended on December 31, 2020. All amounts in this news release are in Canadian dollars (CDN), unless otherwise indicated, and are presented according to International Financial Reporting Standards (IFRS). Revenues amounted to $3.763 billion, a decrease of $127.9 million or 3.3%.Adjusted EBITDA* amounted to $431.1 million, an increase of $14.1 million or 3.4%.Net earnings totalled $209.8 million and EPS** (basic and diluted) were $0.51, an increase as compared to $197.8 million and EPS (basic and diluted) of $0.49 and $0.48.Adjusted net earnings excluding amortization of intangible assets related to business acquisitions* totalled $227.8 million, as compared to $229.1 million, and the corresponding EPS** (basic and diluted) were $0.56 and $0.55, as compared to $0.56. (in millions of Canadian (CDN) dollars, except per share amounts)(unaudited)For the three-month periods ended December 31For the nine-month periods ended December 312020201920202019Revenues 3,762.93,890.810,855.911,224.8Adjusted EBITDA* 431.1417.01,168.11,169.4Net earnings209.8197.8522.5494.1Adjusted net earnings excluding amortization of intangible assets related to business acquisitions*227.8229.1591.1607.1Net earnings per share Basic0.510.491.281.24Diluted0.510.481.271.23Adjusted net earnings per share excluding amortization of intangible assets related to business acquisitions* Basic 0.560.561.441.53Diluted0.550.561.441.52* See the “Non-IFRS Financial Measures” section of the Management’s Discussion and Analysis for the third quarter of fiscal 2021 for the reconciliations to IFRS measures. The shift in consumer demand due to the COVID-19 pandemic continued to impact all the Company’s sectors to varying degrees. During the quarter, overall sales volumes reached similar levels compared to the same period last fiscal year, with the Company benefiting from increased sales volumes in the retail and industrial market segments, despite lower sales volumes in the foodservice market segment. USA Market Factors** positively impacted adjusted EBITDA by approximately $34 million. Lower sales volumes in the USA Sector affected efficiencies and the absorption of fixed costs.In the Canada Sector, the continued positive impact of increased sales volumes in the retail market segment outweighed the impact of decreased sales volumes in the foodservice market segment.The International Sector benefited from increased milk availability and the contribution of the specialty cheese business purchased from Lion Dairy & Drinks Pty Ltd (Specialty Cheese Business Acquisition) for the full quarter.Higher sales volumes in the retail market segment benefited the Europe Sector.A decrease in international cheese and dairy ingredient market prices negatively affected revenues and adjusted EBITDA. The Board of Directors approved a dividend of $0.175 per share payable on March 26, 2021, to common shareholders of record on March 16, 2021. * See the “Non-IFRS Financial Measures” section of the Management’s Discussion and Analysis for the third quarter of fiscal 2021 for the reconciliations to IFRS measures.** Refer to the ‘‘Glossary’’ section of the Management’s Discussion and Analysis for the third quarter of fiscal 2021. Appointments in Senior Management The Company welcomes Ms. Lyne Castonguay in the position of Deputy President and Chief Operating Officer, Dairy Division (USA), effective February 5, 2021. Ms. Castonguay will report to Mr. Carl Colizza, President and Chief Operating Officer (North America) and Dairy Division (USA). In the upcoming year, Mr. Colizza will ensure a transition of the Dairy Division (USA)’s leadership to Ms. Castonguay to focus on his strategic role as President and Chief Operating Officer (North America). Ms. Castonguay previously held executive positions with a major Canadian food retailer, as well as senior roles at a large retailer both in Canada and in the United States. The Company is also pleased to announce that Mr. Marcelo Cohen will be appointed President and Chief Operating Officer, Dairy Division (Argentina), effective April 1, 2021. He will continue to report to Mr. Kai Bockmann, President and Chief Operating Officer, Saputo Inc. and International Sector. Mr. Cohen joined the Company in 2003 and has held the position of Senior Vice President, Operations, Dairy Division (Argentina) since 2015. Additional Information For more information, reference is made to the condensed interim consolidated financial statements, the notes thereto and to the Management’s Discussion and Analysis for the third quarter of fiscal 2021. These documents can be obtained on SEDAR under the Company’s profile at www.sedar.com and in the “Investors” section of the Company’s website, at www.saputo.com. Conference Call A conference call to discuss the fiscal 2021 third quarter results will be held on Thursday, February 4, 2021, at 2:30 p.m. Eastern Time. To participate in the conference call, dial 1-800-941-4658. To ensure your participation, please dial in approximately five minutes before the call. To listen to this call on the Web, please enter http://www.gowebcasting.com/11052 in your Web browser. For those unable to participate, a replay of the conference will be available until 11:59 p.m., Thursday, February 11, 2021. To access the replay, dial 1-800-558-5253, ID number 21989605. A webcast will also be archived on www.saputo.com, in the “Investors” section, under “Calendar of Events”. About Saputo Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is one of the top ten dairy processors in the world, a leading cheese manufacturer and fluid milk and cream processor in Canada, the top dairy processor in Australia, and the second largest in Argentina. In the USA, Saputo ranks among the top three cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products. In the United Kingdom, Saputo is the largest manufacturer of branded cheese and a top manufacturer of dairy spreads. Saputo products are sold in several countries under market-leading brands, as well as private label brands. Saputo Inc. is a publicly traded company and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”. Media Inquiries1-514-328-3141 / 1-866-648-5902 CAUTION REGARDING FORWARD-LOOKING STATEMENTS This news release contains statements which are forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, among others, statements with respect to the Company’s objectives, outlook, business projects, strategies, beliefs, plans, expectations, targets, commitments and goals, including the Company’s ability to achieve these targets, commitments and goals, and statements other than historical facts. The words “may”, “could”, “should”, “will”, “would”, “believe”, “plan”, “expect”, “intend”, “anticipate”, “estimate”, “foresee”, “objective”, “continue”, “propose”, “aim”, “commit”, “assume”, “forecast”, “predict”, “seek”, “project”, “potential” or “target”, or the negative of these terms or variations of them, the use of conditional or future tense or words and expressions of similar nature, are intended to identify forward-looking statements. All statements other than statements of historical fact included in this news release may constitute forward-looking statements within the meaning of applicable securities laws. By their nature, forward-looking statements are subject to a number of inherent risks and uncertainties. Actual results could differ materially from those stated, implied or projected in such forward-looking statements. As a result, the Company cannot guarantee that any forward-looking statements will materialize, and the Company warns readers that these forward-looking statements are not statements of historical fact or guarantees of future performance in any way. Assumptions, expectations and estimates made in the preparation of forward-looking statements and risks and uncertainties that could cause actual results to differ materially from current expectations are discussed in the Company’s materials filed with the Canadian securities regulatory authorities from time to time, including the

MONTREAL, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Saputo Inc. (TSX:SAP) – A conference call for analysts and institutional investors will be held on Thursday, ...