Maple Leaf Foods Reports First Quarter 2021 Financial Results
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Meat Protein delivers another strong quarter, with solid top-line growth and robust Adjusted EBITDA Margin expansion to 12.2%
MISSISSAUGA, ON, May 5, 2021 /PRNewswire/ - Maple Leaf Foods Inc. ( Maple Leaf Foods or the Company ) (TSX: MFI) today reported its financial results for the first quarter ended March 31, 2021. Maple Leaf remains committed to delivering shared value, and to building an enduring company, with a vision to be the most sustainable protein company on earth, said Michael H. McCain, President and CEO. We continue to deliver on our commitments. As we cross the one-year mark of the COVID-19 pandemic, I continue to be inspired by our dedicated front-line team members who come into work each day to produce the food we all need to stay healthy. Our number one priority is to keep our people healthy during this global crisis, and beyond. At the same time, we are d
BUSINESS HIGHLIGHTS
Sequential quarterly Commercial Portfolio growth continues the trend that started last year, up 3% QoQ to reach $5.7 billion, driven by higher loan origination (+5% QoQ), with a continued focus on defensive sectors and stricter credit underwriting standards.
During 1Q21, Bladex continues to collect virtually all loan maturities (close to 100% since the onset of Covid-19), evidencing the high quality of the Bank s borrower base and short-term nature of its business.
As of March 31, 2021, Bladex s credit quality remains sound, with a well-diversified exposure across countries, having 57% of the Commercial Portfolio in investment grade countries, 53% with financial institutions and 18% with sovereign and state-owned corporations. As well, Bladex continues with the downsize of exposures to higher risk sectors since the onset of Covid-19, such as sugar (-46%) and airlines (-67%), now representing 1% and 0.8% of the total portfolio, respectively.
Mosaic Capital Corporation Reports Q1 2021 Financial Results
M)
Mosaic or the
Company ) has released its consolidated financial results for the period ended March 31, 2021. The Company s financial statements and management s discussion and analysis (
MD&A ) for the period ended March 31, 2021 can be accessed under Mosaic s profile on SEDAR at www.sedar.com and on the Company s website at www.mosaiccapitalcorp.com.
SELECTED FINANCIAL HIGHLIGHTS
(in $000s, except as noted)
2021
$
$
$
$
(1)
10,705,665
TTM ) Preferred Distribution Payout Ratio are not recognized measures under IFRS. Refer to Non-GAAP Measures .
For the three month period ended March 31, 2021, Mosaic:
generated $82.6 million in revenue from continuing operations which was a 9% improvement over the same period in 2020 demonstrating a return to revenue growth since the onset of the COVID-19 pandemic (
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RWB” or the “
Company”) previously announced that it did not file its audit in advance of the April 30, 2021 deadline. The Company anticipates filing its 2020 audited financial statements on or before May 31, 2021. As a result of today’s announcement, RWB is providing certain 2020 and subsequent financial results:
Certain highlights for 2020 and subsequent to the year end:
System wide product sales
1 for the Company, which excludes RWB Michigan, RWB Florida and RWB Illinois, in the fourth quarter of 2020 were approximately CDN $26.5 million, an increase of 218% over the third quarter and the first full quarter post-closing of the Platinum Vape (“PV”) acquisition;