Accord Financial Corp. (T:ACD)
Business Focus: Corporate Financial Services (NEC)
| Sector: Financials | Industry: Corporate Financial Services |
| Company Contact | |
| Address: | 40 Eglinton Avenue East, Suite 602 TORONTO CA M4P 3A2 |
| Tel: | N/A |
| Website: | https://www.accordfinancial.com |
| IR: | See website |
| Key People | ||
| Simon Hitzig President, Chief Executive Officer, Director | Irene Eddy Chief Financial Officer, Senior Vice President | Cathy Osborne Senior Vice President - Human Resources | Todd Eubanks Senior Vice President - Underwriting and Portfolio |
| Business Overview |
| Accord Financial Corp. is a Canada-based commercial finance company. The Company operates six finance companies in North America, namely, Accord Financial Inc. (AFIC), Accord Financial Canada Corp. (AFCC) and Accord Financial Ltd. (AFL) in Canada, and Accord Financial, Inc. (AFIU), BondIt Media Capital (BondIt) and Accord CapX LLC (doing business as Accord Equipment Finance (AEF), in the United States. The Company's business principally involves asset-based lending by AFIC and AFIU, which entails financing or purchasing receivables on a recourse basis, as well as financing other tangible assets, such as inventory and equipment; equipment financing by AEF and AFCC. AFCC also provides working capital financing to small businesses through its Accord Small Business Finance (ASBF) subsidiary; film and media production financing by BondIt; and credit protection and receivables management services by AFL, which principally involves providing credit guarantees and collection services. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Accord Financial Corp revenues increased 18% to C$79.7M. Net loss totaled C$14.6M vs. income of C$1.4M. Revenues reflect Canada segment increase of 27% to C$49.4M, United States segment increase of 6% to C$30.8M. Net loss reflects Provision for credit losses increase from C$8.3M to C$24.5M (expense), Interest - Balancing value increase of 47% to C$35.2M (expense). |
| Employees: | 107 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $446.34M as of Dec 31, 2023 |
| Annual revenue (TTM): | $79.71M as of Dec 31, 2023 |
| EBITDA (TTM): | $21.78M as of Dec 31, 2023 |
| Net annual income (TTM): | -$14.63M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$53.28M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $408.13M as of Dec 31, 2023 |
| Shares outstanding: | 8,558,913 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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