Decisive Dividend Corp. Reports Strong Sales Growth in Q3 2021
Kelowna, British Columbia -- October 28, 2021 -- NewsGenie -- Decisive Dividend Corporation (TSXV:DE) has released its financial results for Q3 2021, reporting a 40% increase in consolidated sales, reaching $16.5 million compared to $11.8 million in Q3 2020. The quarterly surge boosted the first nine months' consolidated sales to $44.6 million, a 33% increase from the same period in 2020.
Adjusted EBITDA* for Q3 2021 was $1.8 million, a 25% decrease compared to Q3 2020, attributed to reduced government subsidies. However, excluding subsidies, Adjusted EBITDA* was 24% higher than the previous year. The first nine months of 2021 saw an 8% increase in Adjusted EBITDA*, totaling $6.6 million.
The company also entered a refinancing agreement, enhancing liquidity and debt availability with lower borrowing costs and greater operational and acquisition flexibility.
CEO Jeff Schellenberg commented on the solid quarter, noting the continued strong demand for Blaze King products and improved demand for Slimline's agricultural sprayers. Increased demand from subsidiaries' customers in various sectors also contributed to sales growth in the component manufacturing segment. While supply chain and labor challenges persist, Decisive remains focused on managing costs and optimizing operations.
Decisive Dividend Corporation is focused on manufacturing acquisitions, aiming to be the preferred choice for legacy-minded business owners and create sustainable shareholder returns through a disciplined acquisition strategy.