GENIVAR’S revenues 12% higher than in 2011

GENIVAR announced its 2011 financial results on March 26. Headquartered in Montreal, the publicly traded company is one of Canada’s largest engineering companies with 5,500 employees in over 100 cities in Canada and internationally.
For the 12 months ending December 31, 2012, total revenues were $651.9 million compared to $580.4 million in 2010 — an increase of 12.3%. For the same period, net revenues amounted to $529.0 million, representing a 12.7% increase as compared to 2010.
EBITDA (earnings before interest, taxes, depreciation and amortization) increased to $89.7 million, up from $83.5 million in 2010. Net earnings for 2011 amounted to $50.1 million or $1.91 per share.
In announcing the results, Pierre Shoiry, president and chief executive officer of GENIVAR, said: “This past year saw GENIVAR strategically position its platform in preparation for future growth. Throughout the year, we remained focused on the fundamentals of our business and continued to strengthen our presence in Canada and abroad. Additionally, we closed 10 transactions and welcomed new solid and committed financial partners. As we progress into 2012, we remain focused on driving growth, further cementing our position as a leader in the field of professional services, while enhancing execution to deliver sustained value creation.”