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Accord Financial Corp. (T:ACD)

Business Focus: Corporate Financial Services

Sector:  Financials Industry:  Corporate Financial Services
See Regulatory Filings on SEDAR
Company Contact
Address: 3500 de Maisonneuve Blvd W Suite 1510
Tel: N/A
IR: See website
Key People
Ken Hitzig
Executive Chairman of the Board
Simon Hitzig
President, Chief Executive Officer, Director
Thomas L. Henderson
Vice Chairman of the Board
Struart Adair
Chief Financial Officer, Senior Vice President, Treasurer
Fred Moss
President of Accord Financial Inc.
Jim Bates
Secretary; Chief Operating Officer of Accord Financial Ltd.
Business Overview
Accord Financial Corp. is a provider of asset-based financial services to businesses, such as asset-based lending (ABL), including factoring, lease financing, working capital financing, credit protection and receivables management, and supply chain financing for importers. The Company's business involves ABL by Accord Financial Inc. and Accord Financial, Inc., which entails financing or purchasing receivables on a recourse basis, as well as financing other tangible assets, such as inventory and equipment; lease financing and equipment and working capital lending by Accord Equipment Finance, and credit protection and receivables management services by Accord Financial Ltd., which involves providing credit guarantees and collection services, generally without financing. Its clients operate in various industries, including apparel, financial and professional services, manufacturing, wholesale and distribution, transportation, chemicals, electronics, oilfield services and textiles.
Financial Overview
For the nine months ended 30 September 2019, Accord Financial Corp. revenues increased 23% to C$41.9M. Net income increased 15% to C$7.1M. Revenues reflect Interest increase of 8% to C$36.8M. Net income was partially offset by Interest increase from C$6.1M to C$12.7M (expense), General and administrative increase of 12% to C$18.9M (expense), Depreciation increase from C$160K to C$544K (expense). Dividend per share remained flat at C$0.27.
Employees: 104 as of Dec 31, 2014
Reporting Currency: Canadian Dollars
Enterprise value: $318.39M as of Sep 30, 2019
Annual revenue (TTM): $54.83M as of Sep 30, 2019
EBITDA (TTM): $29.13M as of Sep 30, 2019
Net annual income (TTM): $11.26M as of Sep 30, 2019
Free cash flow (TTM): -$69.83M as of Sep 30, 2019
Net Debt Last Fiscal Year: $290.11M as of Sep 30, 2019
Shares outstanding: 8,588,913 as of Dec 4, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization