IBI Group Inc. Announces Inclusion in the 2022 TSX30
TORONTO, Sept. 15, 2022 (GLOBE NEWSWIRE) -- IBI Group Inc. (“IBI” or the “Company”), a globally integrated design and technology firm, is pleased to share that the Company has been included in the 2022 TSX30™, the Toronto Stock Exchange’s (“TSX”) flagship program showcasing the 30 top-performing stocks over a three-year period, based on dividend-adjusted share price performance. During this three-year period, the value of IBI’s share price increased by 188%, and has risen a further 34% since June 30, 2022 following the proposed acquisition of IBI by Netherlands-based Arcadis for $19.50 per share in cash, announced .
Founded in 2019, the TSX30™ is an annual program that recognizes companies who have sustained excellence over the long term by driving growth in their industries, for their investors, and for the broader economy. This annual ranking system showcases the continuous successes of TSX’s leading issuers and demonstrates the wide range of industries active within Canada’s capital markets who are future-proofing their businesses to benefit shareholders.
“I am extremely proud of IBI’s accomplishments to date and the value creation we have realized, the combination of which led the TSX to recognize our success and include IBI among this distinguished group,” said Scott Stewart, Chief Executive Officer of IBI Group. “Our continued strength and positive performance are a testament to the dedication of IBI’s 3,500 employees as we strive to live our vision to become the global leader in planning, and designing resilient cities of tomorrow, while providing compelling returns for shareholders today. We look forward to building on this momentum as we join forces with Arcadis to position the combined entity with world class software and systems, enhancing client services while providing stable recurring revenue and profitability to the firm.”
For more information on the TSX30TM, visit:
About IBI Group
(TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning more than 60 offices and 3,500 professionals around the world. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on and .
On July 18, Arcadis and IBI Group jointly announced that they had entered an agreement to combine their businesses. The official close of the acquisition will take place this Fall. Read about the announcement .
For additional information, please contact:
Stephen Taylor, CFO
IBI Group Inc.
55 St. Clair Avenue West
Toronto, ON M5V 2Y7
Tel: 416-596-1930
Forward-Looking Statements
Certain statements in this news release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and its subsidiary entities, including IBI Group Partnership (“IBI Group”) or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this news release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties, including those related to: (i) the Company’s ability to maintain profitability and manage its growth; (ii) the Company’s reliance on its key professionals; (iii) competition in the industry in which the Company operates; (iv) timely completion by the Company of projects and performance by the Company of its obligations; (v) fixed-price contracts; (vi) the general state of the economy; (vii) risk of future legal proceedings against the Company; (viii) the international operations of the Company; (ix) reduction in the Company’s backlog; (x) fluctuations in interest rates; (xi) fluctuations in currency exchange rates; (xii) upfront risk of time invested in participating in consortia bidding on large projects and projects being contracted through private finance initiatives; (xiii) limits under the Company’s insurance policies; (xiv) the Company’s reliance on distributions from its subsidiary entities and, as a result, its susceptibility to fluctuations in their performance; (xv) unpredictability and volatility in the price of common shares of the Company; (xvi) the degree to which the Company is leveraged and the effect of the restrictive and financial covenants in the Company’s credit facilities; (xvii) the possibility that the Company may issue additional common shares diluting existing Shareholders’ interests; (xviii) income tax matters. These risk factors are discussed in detail under the heading “Risk Factors” in the Company’s Annual Information Form. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of August 4th, 2022.
The factors used to develop revenue forecast in this news release include the total amount of work the Company has signed an agreement with its clients to complete, the timeline in which that work will be completed based on the current pace of work the Company achieved over the last 12 months and expects to achieve over the next 12 months. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.
