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Accord Financial Corp. (T:ACD)

Business Focus: Corporate Financial Services

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Sector:  Financials Industry:  Corporate Financial Services
 
See Regulatory Filings on SEDAR
Company Contact
Address: 3500 de Maisonneuve Blvd W Suite 1510
WESTMOUNT QC H3Z 3C1
Tel: N/A
Website: https://www.accordfinancial.com
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 fiscal year ended 31 December 2018, Accord Financial Corp. revenues increased 49% to C$46.9M. Net income increased 72% to C$10.4M. Revenues reflect Interest and other income increase of 20% to C$37.8M. Net income benefited from Provision for credit and loan losses decrease of 30% to C$2M (expense), Transaction and integration costs decrease from C$545K (expense) to C$75K (income). Dividend per share remained flat at C$0.36.
Employees: 104 as of Dec 31, 2014
Reporting Currency: Canadian Dollars
Enterprise value: $329.52M as of Mar 31, 2019
Annual revenue (TTM): $46.93M as of Mar 31, 2019
EBITDA (TTM): $21.38M as of Mar 31, 2019
Net annual income (TTM): $10.36M as of Mar 31, 2019
Free cash flow (TTM): -$97.85M as of Mar 31, 2019
Net Debt Last Fiscal Year: $246.25M as of Mar 31, 2019
Shares outstanding: 8,428,542 as of Dec 31, 2018
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization