https://ca.finance.yahoo.com/news/strong-growth-expansion-richelieu-first-133100255.html
Sales in the United States reach 40% of total sales
Total sales for the first quarter ended February 28, 2022 reached $384.5 million, up 29.2%, of which 16.3% was internal growth and 12.9% by acquisitions. In Canada, sales were $230.5 million, up 19.3%. In the United States, sales rose by 48.0% (US$) to US$121.2 million, accounting for 40% of total sales in Canadian currency.
EBITDA was $53.7 million, up 40.8%, and EBITDA margin increased to 14.0%, compared to 12.8% in Q1 2021.
Net earnings attributable to shareholders increased 43.4% to $30.1 million, or $0.53 per share diluted, up 43.2%.
The three acquisitions concluded in the United States on December 31, 2021 represent additional sales of approximately $100 million on an annual basis.
The financial position remains sound and solid with working capital of $449.9 million for a ratio of 2.9:1 and an average return on equity of 24.0% at February 28, 2022.
Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. The company's principal product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, high-pressure laminates, and floor protection products. It also manufactures veneer sheets and edge banding products; and various decorative moldings and components for the window and door industry. The company serves kitchen and bathroom cabinet, storage and closet, home and office furniture manufacturers; residential and commercial woodworkers; and hardware retailers, such as renovation superstores. The company was founded in 1968 and is headquartered in Montreal, Canada.
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