MONTRÉAL, March 1, 2018 /CNW Telbec/ - Garda World Security Corporation ("GardaWorld" or the "Company"), one of the world's largest privately owned security and cash services providers, announced today preliminary financial results for the quarter and fiscal year ended January 31, 2018. GardaWorld intends to release its financial results for the quarter and fiscal year ended January 31, 2018 on or about April 25, 2018.
Based on preliminary financial information, GardaWorld anticipates to report for the fiscal quarter and fiscal year ended January 31, 2018, between Cdn$630.0 million and Cdn$665.0 million, and between Cdn$2,615.0 million and Cdn$2,650.0 million in revenues, respectively, compared with Cdn$649.6 million and Cdn$2,474.3 million, respectively, in the fiscal quarter and fiscal year ended January 31, 2017. GardaWorld anticipates that its Adjusted EBITDA will be between Cdn$80.0 million and Cdn$87.0 million and Cdn$322.0 million and Cdn$329.0 million, respectively, for the fiscal quarter and the fiscal year ended January 31, 2018, compared with Cdn$82.2 million and Cdn$295.7 million, respectively, in the fiscal quarter and fiscal year ended January 31, 2017.
The financial data presented above are preliminary, based upon GardaWorld's estimates and are subject to revision based upon the Company's financial closing procedures and the completion of its financial statements. GardaWorld's actual results may be materially different from its estimates. In addition, these estimated results are not necessarily indicative of the Company's results for the full fiscal year or any future period. The preliminary financial data set forth above have been prepared by, and are the responsibility of, management. GardaWorld and its management believe that the preliminary financial data have been prepared on a reasonable basis, reflecting their best estimates and judgments.
GardaWorld is one of the world's largest privately owned security services providers, offering a range of highly focused business solutions including cash services, protective services and aviation services. GardaWorld's more than 65,000 highly trained, dedicated professionals serve clients throughout North America, the Middle East, Africa and Europe. GardaWorld works across a broad range of sectors, including financial services, infrastructure, natural resources and retail, and services Fortune 500 companies, governments and humanitarian relief organizations. For more information, visit www.garda.com.
Forward Looking Statements and Non-IFRS Financial Measures
EBITDA and Adjusted EBITDA are not measures calculated in accordance with IFRS, EBITDA and Adjusted EBITDA are measures commonly used by financial analysts in evaluating a company's performance and/or ability to service and/or incur indebtedness.
Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the applicable securities laws. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GardaWorld's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GardaWorld's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GardaWorld believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to GardaWorld, they may prove to be incorrect. GardaWorld cautions the reader that the current economic conditions make forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from the GardaWorld's expectations. It is impossible for GardaWorld to predict with certainty the impact that the current economic may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what GardaWorld currently expects. Some of the factors contributing to those uncertainties are fluctuations in quarterly and annual results and the ability of the Company to reduce its debt leverage in the current credit environment. Other contributing factors are fluctuations of interest rate and foreign exchange rate, government regulations, permits and licenses, capacity to manage growth, collective agreements, insurance, contracts not renewed or terminated, demand for the services offered by the Company, industry pricing pressure, as well as market forces, economic cycles, and the strength of regional economies where the Company conducts its business. The foregoing list of important factors is not exhaustive. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. GardaWorld will not update these statements unless applicable securities laws require GardaWorld to do so. The reader should also take knowledge of GardaWorld's Interim MD&A and unaudited consolidated financial statements for the third quarter ended October 31, 2017.
SOURCE Groupe de sécurité GardaWorld Inc.