- Q1 2019 Adjusted EBITDA of $56 million up 51% compared to Q1 2018
- 34% growth in Energy Services’ Divisional EBITDA compared to Q1 2018 reflects our stable production-based revenue and positive contributions from investments to expand our network and synergies, despite lower drilling and completions activity and heavy oil curtailments
- Strong results in Industrial Services driven by growth in rail services, metals recycling and waste services
- Achieved Newalta transaction synergies of $39 million on an annualized run rate basis as at the end of Q1 2019
- On track to deliver double digit Adjusted EBITDA growth in 2019
- Plan to initiate a normal course issuer bid subject to TSX approval
Calgary, AB, May 2, 2019 - Tervita Corporation (“Tervita” or the “Company”) (TSX: TEV) announced today the results for the three months ended March 31, 2019. All financial figures are in millions of Canadian dollars unless otherwise noted.
“We opened 2019 with solid performance reflecting the stability and resiliency of our production-based energy business and diversified business model, the strength of our expanded network, and a continued focus on efficiencies,” said John Cooper, President and CEO. “We continue to be extremely pleased with the integration of Newalta and we are realizing synergies ahead of our plan. In Q1 2019, the impact from declines in drilling and completions activity was more than offset by positive contributions from our expanded network and synergies, together with strong results in Industrial Services. Full news release.
Tervita is a leading waste management and environmental solutions provider offering waste processing, treating, recycling, and disposal services to customers in the oil and gas, mining, and industrial sectors. We serve our customers onsite and through a network of facilities in Canada and the United States.
For 40 years, Tervita has been focused on delivering safe and efficient solutions through all phases of a project while minimizing impact, maximizing returns™. Our dedicated and experienced employees are trusted sustainability partners to our clients. Safety is our top priority: it influences our actions and shapes our culture. Tervita trades on the TSX as TEV. For more information, visit tervita.com.
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