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Uni-Select Reports 2021 Fourth Quarter and Full Year Financial Results

Autosphere » Collision » Uni-Select Reports 2021 Fourth Quarter and Full Year Financial Results
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Uni-Select's head office in Boucherville. PHOTO Uni-Select

Uni-Select reported its financial results for the fourth quarter ended December 31, 2021.

“We ended the year on a very strong note with 2021 sales up almost 10% year-over-year, adjusted EBITDA of $147 million and net earnings back in positive territory. These results reflect the successful implementation of operational improvements, significant savings on borrowing costs and the dedication and relentless efforts of all our team members,” stated Brian McManus, Executive Chair and Chief Executive Officer of Uni-Select.

Annual highlights include:

  • Consolidated sales of $1,612.8 million, up $141.0 million or 9.6%, driven by organic growth of 6.0% from increased demand
    and continued market recovery from the COVID-19 pandemic; and
  • Total long-term debt reduction of $87.2 million compared to last year; Net debt reduction of $61.0 million compared to
    last year, driven by strong operating results, working capital management and capital discipline.

“Based on what we currently see, we expect modest improvement in sales and higher adjusted EBITDA and adjusted EPS in 2022 compared to 2021. This assumes more intense inflationary pressures and supply chain and labor challenges. These factors are expected to be mitigated by a more optimized cost structure and lower financing costs as we continue to reinvest in the business and drive operational improvements in our three business units. Looking to the future, and making use of our improved balance sheet, we are beginning to consider strategic acquisition opportunities,” concluded Mr. McManus.

Full financial results can be found here.

 

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