BMTC GROUP INC. ANNOUNCES FINANCIAL RESULTS FOR THE SEMESTER ENDED JULY 31st, 2025.

MONTRÉAL, Sept. 11, 2025 /CNW/ –

Results

For the six-month period ended July 31, 2025, the Company’s revenues increased by $22,837,000 to $329,375,000 compared to $306,538,000 recorded for the corresponding period of 2024, an increase of 7.4%. This increase is primarily attributable to the growth in commercial revenue from the Tanguay division, whose revenue rose by $24,403,000 or 8%. Comparable store sales also increased by 8.4% during the period. In contrast, investment property revenue from the real estate division declined by ($1,566,000) compared to the corresponding period in 2024, representing a decrease of 97.4%. Net earnings for the six-month period ended July 31, 2025, which amounted to $4,104,000 compared to the net earnings of $20,925,000 recorded for the corresponding period of 2024. Basic net earnings per share amounted to $0.13 compared to $0.64 recorded for the corresponding period of 2024.

The net earnings recorded consisted of a net loss of ($8,460,000) from the real estate division and a net earnings of $12,564,000 from the Tanguay division, compared to a net loss of ($885,000) and net earnings of $21,810,000, respectively, for the corresponding period of 2024. The variances observed resulted in a change of ($7,575,000) for the real estate division and ($9,246,000) for the Tanguay division.

The variation in the net loss of the real estate division is primarily attributable to the ongoing expansion and optimization work, which is temporarily increasing operating expenses. These projects are expected to be completed during the year, which should allow for a gradual return to improved financial performance for the division.

The variation in net earnings of the Tanguay division for the six-month period ended July 31, 2025, is mainly attributable to the decrease in the after-tax unrealized gain on investments, which amounted to $4,174,000 compared to $13,104,000 for the corresponding period, as well as from the realization of an after-tax gain on the disposal of fixed assets totaling $5,459,000 during the corresponding period of 2024.

During the period ended July 31, 2024, the Company disposed of fixed assets in the amount of $6,948,000, resulting in an after-tax gain of $5,459,000, or $0.17 per basic share.  This amount includes an after-tax gain of $2,097,000, or $0.07 per basic share, received as an additional settlement obtained by winning the case relating to the expropriation of the former Kirkland store by the Réseau express métropolitain (REM) in 2019. Finally, this amount also includes the sale of its Trois-Rivières store for an amount of $4,500,000, resulting in an after-tax gain of $3,362,000, or $0.10 per basic share.

Although these unfavorable variations had a negative effect, the improvement in Tanguay’s operating performance during the period mitigated their impact on net earnings. This improvement mainly stems from the synergies generated by the operational and commercial reorganization implemented in May 2023, the completion of the network revitalization program, as well as the sales growth observed during the period.

For the six-month period ended July 31, 2025, the share repurchase program had no impact on basic net earnings per share. As for the corresponding period of 2024, the share repurchase program contributed to an increase of $0.01 on basic net earnings per share.

The variation in adjusted net earnings for the non-recurring element would be ($11,362,000) or ($0.34) per basic share for the six-month period ended July 31, 2025, when compared to the six-month period ended July 31, 2024, is explained as follows:

                                                  (Unaudited and $ in thousands)

The variations in net adjusted earnings is allocated as follows :

                                              (Unaudited and $ in thousands)

Annual financial information
($ in thousands, except for per share amounts)

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