CEMATRIX Reports Second Quarter 2022 Results, Canadian Business Journal

CALGARY, Alberta, August 10, 2022 (GLOBE NEWSWIRE) — Sematrix Co., Ltd. (TSXV: CVX) (OTCQB: CTXXF) (“Sematrix” or “Company“), a leading North American manufacturer and supplier of technologically advanced aerated concrete products, has announced consolidated financial results for the quarter ended June 30, 2022.

Jeff Kendrick said: , President and CEO of CEMATRIX. “Cement shortages have resulted in project delays, higher project input costs and many lost opportunities. We expect these cement supply issues to persist for the rest of the year.”

“The third quarter has traditionally been our strongest quarter and we are on track to deliver the best quarter in our history from an earnings standpoint and as a result, we expect the next quarter to be financially strong. We expect it to be strong in 2020,” Kendrick continued.

“Additionally, we continue to see a strong bidding pipeline that gives us confidence that we can continue to expand with a higher order backlog. This includes highway projects, believed to be the largest aerated concrete project contracted in North America for the backfilling of several overpasses as part of the construction of a new highway corridor in North Carolina. The project was awarded approximately two-and-a-half years ago by Letter of Intent and was ultimately awarded by Chicago-based US subsidiary MixOnSite (“MOS”) at the end of the quarter. After many delays, the project is finally underway and MOS will be putting materials into it early in the new year. The bulk of the project he plans to complete in 2023,” he said.

“While we expect a slower than expected start to the year and supply chain issues due to a shortage of cement, for the second half of 2022 we are on track to outperform the combined revenues of the last few years and lay the foundation for what is highly anticipated. I’m very optimistic that we can do it. Exciting 2023,” Kendrick concluded.

Below are our second quarter and year-to-date business and financial highlights.

Business highlights for the quarter:

  • Announced $3.9 million in new deal (June 16, 2022)
  • Announced Completion of Phase 2 and Phase 3 of Strategic Investment in Glavel Inc (May 2, 2022)
  • Announced $4.1 million in new deal (April 6, 2022)

Business highlights after the quarter:

  • New $22.5 million deal announced (August 3, 2022). This includes his $20.3 million overpass backfill project in North Carolina, the largest infrastructure project ever awarded in North America.

Second Quarter Financial Highlights:

  • Revenue was $4 million in Q2 2022 compared to $4 million in Q2 2021
  • An operating loss of $2 million in the second quarter of 2022 compared with a loss of $1.5 million in the second quarter of 2021
  • Adjusted EBITDA was negative $1.2 million in the second quarter of 2022 compared with negative $0.9 million in the second quarter of 2021
  • Operating cash flow was negative $1.3 million in the second quarter of 2022 compared to negative $1.0 million in the second quarter of 2021
  • We invested an additional US$1,125,000 in Glavel Inc (“Glavel”), bringing CEMATRIX’s total investment in Glavel to US$1,680,000.

Financial Highlights for the Six Months Ended June 30th(Results since the beginning of the year):

  • Revenue was $9.1 million in 2022 YTD compared to $8.5 million in 2021 YTD.
  • Operating loss in YTD 2022 was $3.8 million compared to a loss of $2.6 million in YTD 2021.
  • Adjusted EBITDA was negative $2.8 million in 2022 YTD compared to negative $1.4 million in 2021 YTD.
  • Operating cash flow was negative, with cash used in operating activities of $2.8 million in 2022 compared to $1.5 million in 2021.
  • As of June 30, working capital was $12 million and cash was $13.8 million.

About Sematrix

CEMATRIX is a rapidly growing company that manufactures and supplies technologically advanced aerated concrete products developed from proprietary formulations throughout North America. With excellent thermal protection, this unique cement-based material offers innovative, cost-effective solutions to a wide range of problems facing the infrastructure, industrial (including oil and gas), and commercial markets. Offers. With the recent acquisitions of Chicago-based MixOnSite and Bellingham-based Pacific International Graut, CEMATRIX is now the largest cellular concrete company in North America. For more information, please visit our company’s website

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”). All statements other than statements of historical fact are forward-looking statements. Generally, forward-looking statements are made using words such as “plans,” “anticipates,” “estimates,” “intends,” “predicts,” “believes,” or variations of such words, or A particular action, event or outcome “could”, “could”, “could”, “could”, “take place”, “occur”, or ” achieved.” The forward-looking statements contained in this news release are based on certain important expectations and assumptions made by the Company, including the satisfaction of regulatory requirements in various jurisdictions and the Company’s anticipated use of the net proceeds of the public offering. . Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in our filings with Canadian securities regulators. and could cause actual results, achievements, prospects and opportunities to differ materially from those expressed or implied by such statements. Forward-Looking Statements.

Although we believe that the assumptions and factors used in making these forward-looking statements are reasonable based on the information currently available to management, actual results and developments may differ significantly from those assumed in these statements. Therefore, readers are cautioned not to place undue reliance on these statements. Except as required by applicable law, we may not make forward-looking statements, whether as a result of new information, future events or otherwise. disclaims any intention or obligation to update or revise its forward-looking statements.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

For more information, please contact:
Jeff Kendrick – President and CEO
Phone: (403) 219-0484

Glenn Axelrod – President, Bristol Capital
Phone: (905) 326 1888 Ext. 1
[email protected]

Jeff Walker, Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
[email protected]

CBJ Newsmaker

CEMATRIX Reports Second Quarter 2022 Results, Canadian Business Journal

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