Velan Inc. (T:VLN)
Business Focus: Industrial Valve Manufacturing
| Sector: Industrials | Industry: Industrial Machinery & Equipment |
| Company Contact | |
| Address: | 7007 Cote de Liesse MONTREAL QC H4T 1G2 |
| Tel: | N/A |
| Website: | https://www.velan.com |
| IR: | See website |
| Key People | ||
| James A. Mannebach Chairman of the Board, Chief Executive Officer | Emanuel Nataf Vice President - Finance | Robert Velan Vice Chairman of the Board, Executive Vice President - International Operations |
| Rishi Sharma Chief Financial and Administrative Officer | Sabine Bruckert Executive Vice President of Human Resources, General Counsel, Corporate Secretary | Bryant Holt Executive Vice President, General Manager - Severe Service |
| Laurent Pefferkorn Executive Vice President, General Manager - Project SBU | Duke Tran Executive Vice President, General Manager - Severe Service | Paul Dion Senior Vice President of Sales, Process Industries | Shane Velan Chief Information Officer |
| Business Overview |
| Velan Inc. is a Canada-based manufacturers of industrial valves. The Company designs, manufactures and markets a range of industrial valves for use in industry applications, including power generation, oil and gas, refining and petrochemicals, chemicals, liquid natural gas and cryogenics, pulp and paper, geothermal processes and shipbuilding. Its products include Quarter-turn valves, Gate, globe, and check valves, Cryogenic valves, HF Acid valves, Steam traps, Bellows seal valves and Velan ABV Valves. Its services include research and development, maintenance manuals (IOMs), spare parts and service locations. The North American operations comprising two manufacturing plants in Canada, as well as one manufacturing plant and one distribution facility in the United States. Its overseas operations include manufacturing plants in France, Italy, Portugal, Korea, Taiwan, India, and China. The Company's operations also include a sales operation in Germany. |
| Financial Overview |
| For the nine months ended 30 November 2023, Velan Inc revenues decreased 10% to $228.9M. Net loss increased from $8.3M to $17.7M. Revenues reflect United States segment decrease of 20% to $76.5M, Italy segment decrease of 21% to $31.3M. Higher net loss reflects Finance costs increase from $1.3M to $4.4M (expense), Other expense (income) increase from $132K (income) to $539K (expense). |
| Employees: | 1,630 as of Nov 30, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $108.38M as of Nov 30, 2023 |
| Annual revenue (TTM): | $473.19M as of Nov 30, 2023 |
| EBITDA (TTM): | -$59.28M as of Nov 30, 2023 |
| Net annual income (TTM): | -$89.14M as of Nov 30, 2023 |
| Free cash flow (TTM): | -$5.79M as of Nov 30, 2023 |
| Net Debt Last Fiscal Year: | $18.92M as of Nov 30, 2023 |
| Shares outstanding: | 21,585,635 as of Nov 30, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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