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CI Financial Corp. (T:CIX)

Business Focus: Investment Management & Fund Operators

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Sector:  Financials Industry:  Investment Management & Fund Operators
See Regulatory Filings on SEDAR
Company Contact
Address: Twentieth, 2 Queen St E Floor
Tel: 1-416-6816508
IR: See website
Key People
William Thomas Holland
Executive Chairman of the Board
Peter W. Anderson
President, Chief Executive Officer, Director
Douglas J. Jamieson
Chief Financial Officer, Executive Vice President
Steven J. Donald
Executive Vice President
Neal A. Kerr
Executive Vice President
Rohit Dev Mehta
Executive Vice President
Darie P. Urbanky
Executive Vice President
Business Overview
CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration. The Company's Asset Management segment provides the majority of CI's income and derives its revenue principally from the fees earned on the management of various families of mutual, segregated, pooled, exchange-traded and closed-end funds, structured products and discretionary accounts. CI's Asset Administration segment derives its revenue principally from commissions and fees earned on the sale of mutual funds and other financial products and ongoing service to clients. The Company's products are distributed primarily through brokers, independent financial planners and insurance advisors, among others.
Financial Overview
For the three months ended 31 March 2019, CI Financial Corp revenues decreased 8% to C$526.8M. Net income decreased 12% to C$140M. Revenues reflect Asset Management segment decrease of 10% to C$466.3M. Net income also reflects Interest and lease finance increase of 48% to C$13.7M (expense), Investment dealer fees increase of 8% to C$40.8M (expense). Dividend per share decreased from C$0.35 to C$0.18.
Employees: 1,799 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $6,236M as of Mar 31, 2019
Annual revenue (TTM): $2,190M as of Mar 31, 2019
EBITDA (TTM): $885.65M as of Mar 31, 2019
Net annual income (TTM): $598.47M as of Mar 31, 2019
Free cash flow (TTM): $387.37M as of Mar 31, 2019
Net Debt Last Fiscal Year: $1,296M as of Mar 31, 2019
Shares outstanding: 238,637,942 as of Jun 10, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization