Parkit Enterprise Inc. (V:PKT)
Business Focus: Industrial Real Estate Rental & Development
| Sector: Real Estate | Industry: Real Estate Rental, Development & Operations |
| Company Contact | |
| Address: | 100 Canadian Rd, TORONTO ON M1R 4Z5 |
| Tel: | N/A |
| Website: | https://www.parkitenterprise.com |
| IR: | See website |
| Key People | ||
| Steven R. Scott Chairman of the Board | Iqbal Khan Chief Executive Officer, Director | Carey Chow Co-Chief Financial Officer |
| Joanne Odette Co-Chief Financial Officer | Avi Minkowitz Vice President | Steven Adam Strauss Vice President |
| Business Overview |
| Parkit Enterprise Inc. offers an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada. In addition, it has parking assets across markets in the United States. Its segments include Industrial properties and Parking properties. The Industrial properties is engaged in the acquisition, management, and growth of industrial real estate in key markets in Canada. The Parking properties is engaged in the acquisition and management of income-producing parking facilities across the United States. Its industrial assets include 1551 Parisien Street, Ottawa, Ontario; 5610 Finch Ave East, Toronto, Ontario; 195 Henderson Dr, Regina, Saskatchewan, 961-975 Sherwin Rd, Winnipeg, and others. Its parking assets include Fly-Away Airport Parking, Z Airport Parking, Chapel Square Garage and Canopy Airport Parking Lot. Its portfolio also includes 1151 Parisien Street, 2 Ramm Ave, 1725 Inkster Blvd and more. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Parkit Enterprise Inc revenues increased from C$11.1M to C$23.1M. Net loss increased 46% to C$5.1M. Revenues reflect Investment properties revenue increase of 87% to C$20.7M. Higher net loss reflects Interest increase from C$2.1M to C$7.5M (expense), Depreciation increase of 68% to C$7.7M (expense), FV/Uls Adjust on Derivatives for Hedging decrease of 42% to C$1.1M (income). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $292.65M as of Dec 31, 2023 |
| Annual revenue (TTM): | $23.13M as of Dec 31, 2023 |
| EBITDA (TTM): | $11.19M as of Dec 31, 2023 |
| Net annual income (TTM): | -$5.09M as of Dec 31, 2023 |
| Free cash flow (TTM): | $15.01M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $157.88M as of Dec 31, 2023 |
| Shares outstanding: | 226,669,162 as of Apr 22, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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