MONTREAL, QUEBEC
During its Q3 2015 earnings conference call, Saputo executives Lino Saputo Jr., Vice Chairman and CEO, and Louis-Philippe Carrière, EVP of Finance & Administration and Secretary, discussed what kind of acquisition opportunities are still in store for the company.
According to Seeking Alpha, Carrière stated that there is potential to see future acquisitions in the cheese and dairy sector costing between C$500 million and upwards into the billion-dollar range.
“I would not exclude the potential of maybe C$2.5 million, C$3 million side businesses that eventually could come available to the market for us,” he said. “Again, as I have always said, we will be patient. This is not a sprint, it’s a marathon. It will be focused and will be very, very disciplined as we look at those opportunities that come our way.”
Saputo had also reported its financial results for Q3 2015, which ended on December 31, 2014. For the quarter, the company reported a 7.3% increase in net earnings, totaling C$154.6 million. Revenues also increased to C$278.7 million, a 7.2% increase. EBITDA amounted to $278.7 million, representing a 7.2% increase.
“I am pleased with our third quarter results which show growth in net earnings, EBITDA, and in revenues. I believe these results clearly demonstrate we have the right platform to further develop our business, increase our international footprint, and continue to be recognized as one of the top thirty processors in the world,” said Saputo.
He added, “Acquisitions remain at the forefront of our strategy. I’m very optimistic about the opportunity for Saputo to continue the growth requisition.”
Stay tuned to DeliMarket TV for more updates on Saputo’s fiscal year.