Altus Group Ltd

AIF

Equity

ISIN CA02215R1073 / Valor 12223114

Toronto Stock Exchange (2024-12-24)

CAD 56.34+0.52%

Altus Group Ltd
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About company

Altus Group Ltd is a leading provider of software, data solutions, and independent advisory services to the global commercial real estate (CRE) industry. Leveraging its deep industry expertise, Altus Group offers a comprehensive suite of products and services designed to empower real estate development, investment, and management professionals. The company's offerings include market-leading software for analytics and investment management, property tax advisory and valuation services, and cost consulting. Altus Group's commitment to innovation is evident in its regular publication of industry insights, such as the quarterly CRE Industry Conditions & Sentiment Survey, which provides valuable data on market trends and future expectations. While the company also engages in sustainability and ESG initiatives, its core business focuses on enhancing the efficiency and decision-making capabilities of CRE professionals worldwide.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Altus Group Ltd reported consolidated revenues of $206.7 million for Q2 2024, reflecting a 0.7% increase compared to the same quarter in 2023. However, on a Constant Currency basis, revenues saw a slight decline of 0.6%.

Profit Decline

The company experienced a significant drop in profit for Q2 2024, reporting $2.3 million compared to $11.9 million in Q2 2023. This decline was also reflected in the earnings per share (EPS), which fell to $0.05 from $0.26.

Adjusted EBITDA

Altus Group Ltd's consolidated Adjusted EBITDA for Q2 2024 was $36.8 million, marking a 17.6% decrease from the previous year. On a Constant Currency basis, the decline was slightly higher at 19.2%.

Analytics Revenue

The Analytics segment of Altus Group Ltd showed resilience, with revenues reaching $102.8 million, up 3.0% from Q2 2023. Recurring Revenue within this segment grew by 7.2%, contributing to an Adjusted EBITDA of $26.8 million and a 26.1% Adjusted EBITDA margin.

Cash Flow Improvement

Net cash related to operating activities for Altus Group Ltd in Q2 2024 was $39.8 million, an impressive 83.5% increase from the previous year. Free Cash Flow also saw a substantial rise, up 96.4% to $37.5 million.

Summarized from source with an LLMView Source

Key figures

28.7%1Y

-19.8%3Y

44.5%5Y

Performance

35.6%1Y

34.0%3Y

35.0%5Y

Volatility