Logistec 2022 earnings update

Logistec released today on March 22nd the 2022 year end results, here are the updated numbers and charts. Updated on March 24th 2023 at 2AM ! after reviewing the 2022 annual report and the conf.call

All figures in this article are in canadian dollars

The article constitutes my personal views and is for entertainment purposes only. This is not an investment advice. Please refer to the disclaimer at the end of this article for more details.

Marine Business

The marine business is firing on all cylinders! with sales reaching $ 565 million, up 32%. EBT has reached $ 52 million - up a staggering 73%!

This reinforces my belief that management must focus new investments into this segment. The management seems to agree for now, with Logistec’s largest acquisition to be made in it history, the acquisition of the Fednav Maritime Terminals to expand its maritime network by 11 terminals. This acquisition worth US$105 million will bring its network to 90 terminals in 60 ports across North America. This should close by end of this month.

https://www.logistec.com/logistec-announces-strategic-acquisition-of-fednavs-terminal-division-expanding-its-network-in-north-america/

So again we should assume a v…