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WKN: 256171 | ISIN: CA4013392051 | Ticker-Symbol: J860
Frankfurt
08.08.25 | 08:53
26,600 Euro
0,00 % 0,000
1-Jahres-Chart
GUARDIAN CAPITAL GROUP LIMITED Chart 1 Jahr
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GUARDIAN CAPITAL GROUP LIMITED 5-Tage-Chart
GlobeNewswire (Europe)
17 Leser
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Guardian Capital Group Limited (TSX: GCG; GCG.A) Announces 2025 Second Quarter Operating Results

TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- All per share figures disclosed below are stated on a diluted basis.

For the periods ended June 30,Three monthsSix months
($ in thousands, except per share amounts)2025202420252024
Net revenue$ 90,032 $64,164 $ 185,193 $126,661
Operating earnings 6,128 14,333 13,178 26,651
Net gains (losses) 54,983 (39,161) 39,260 (26,424)
Net earnings (loss) 55,581 (22,730) 48,917 (1,289)
EBITDA (1)$ 14,866 $21,376 $ 30,809 $40,282
Adjusted cash flow from operations (1) 11,228 14,740 24,265 29,949
Attributable to shareholders:
Net earnings (loss) 55,242 (23,137) 48,190 (1,970)
EBITDA (1) 14,261 20,688 29,541 39,013
Adjusted cash flow from operations (1) 10,687 13,853 23,147 28,540
Per share amounts (diluted):
Net earnings (loss) 2.28 (0.99) 2.00 (0.08)
EBITDA (1) 0.60 0.89 1.24 1.67
Adjusted cash flow from operations (1) 0.45 0.59 0.97 1.22
As at 202520242024
($ in millions, except per share amounts) June 30December 31June 30
Total client assets $ 164,143 $168,979$58,628
Shareholders' equity 1,323 1,318 1,223
Securities, net 1,248 1,211 1,130
Per share amounts (diluted):
Shareholders' equity (1) $ 54.29 $53.76$49.34
Securities, net (1) 51.19 49.38 45.61

The Company is reporting Total Client Assets (which includes assets under management and advisement) of $164.1 billion as at June 30, 2025, compared to $169.0 billion, as at December 31, 2024 and $58.6 billion, as at June 30, 2024. Sterling and Galibier accounted for $107.0 billion in increase since June 30, 2024. The largest contributor to the decrease in Total Client Assets since December 31, 2024, was the effect of the decrease in the value of the US dollar against the Canadian dollar, which had the effect of reducing Total Client Assets in the US Segment by $6.5 billion in the current quarter.

Net revenue for the current quarter was $90.0 million, compared to $64.2 million in the same quarter in the prior year, with $33.2 million being contributed by Sterling and Galibier, which was partially offset by lower Net management fee revenue in the other asset management businesses and lower interest income.

Operating earnings and EBITDA(1) were $6.1 million and $14.9 million, respectively, for the quarter ended June 30, 2025, compared to $14.3 million and $21.4 million, respectively, in the same quarter in the prior year. Dampening the current quarter's results were $2.1 million of costs associated with the integration of Sterling.

Net gains in the current quarter were $55.0 million, compared to Net losses of $39.2 million in the same quarter in the prior year, which largely reflect the changes in fair values of Guardian's Securities portfolio.

Net earnings attributable to shareholders were $55.2 million in the current quarter, compared to Net loss of $23.1 million in the comparative period, resulting largely from the swing to Net gains from Net losses described above.

Adjusted cash flow from operations attributable to shareholders(1) for the current quarter was $10.7 million, compared to $13.9 million in the comparative period.

The Company's Shareholders' equity as at June 30, 2025 was $1,323 million, or $54.29 per share(1), compared to $1,318 million, or $53.76 per share(1) as at December 31, 2024. Guardian's Securities, net as at June 30, 2025 had a fair value of $1,248 million, or $51.19 per share(1), compared to $1,211 million, or $49.38 per share(1) as at December 31, 2024.

The Board of Directors is pleased to have declared a quarterly eligible dividend of $0.39 per share, payable on October 17, 2025, to shareholders of record on October 10, 2025.

The Company's financial results for the past eight quarters are summarized in the following table.

Jun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023
As at ($ in millions)
Total client assets$ 164,143 $167,227 $168,979$165,061$58,628 $61,316$58,774$56,215
For the three months ended ($ in thousands)
Net revenue$ 90,032 $95,161 $98,614$98,128$64,164 $62,497$62,245$62,611
Operating earnings 6,128 7,050 7,385 4,790 14,333 12,318 13,097 18,474
Net gains (losses) 54,983 (15,723) 64,476 39,392 (39,161) 12,737 60,747 (17,358)
Net earnings (loss) 55,581 (6,664) 63,231 39,658 (22,730) 21,441 68,048 (2,270)
Net earnings (loss) attributable to shareholders 55,242 (7,052) 62,849 39,222 (23,137) 21,167 67,087 (2,506)
Per share amounts (in $)
Net earnings (loss) attributable to shareholders:
Basic$ 2.38 $(0.30)$2.72$1.69$(0.99)$0.90$2.85$(0.11)
Diluted 2.28 (0.30) 2.58 1.60 (0.99) 0.86 2.68 (0.11)
Dividends paid$ 0.39 $0.37 $0.37$0.37$0.37 $0.34$0.34$0.34
As at
Shareholders' equity ($ in millions)$ 1,323 $1,304 $1,318$1,245$1,223 $1,255$1,241$1,201
Per share amounts (in $)
Basic$ 57.07 $55.94 $56.54$53.73$52.59 $53.69$52.87$50.90
Diluted 54.29 53.30 53.76 50.38 49.34 50.30 49.39 47.54
Total Class A and Common shares outstanding (shares in thousands) 24,564 24,647 24,647 24,867 24,959 25,136 25,230 25,408

Guardian Capital Group Limited (Guardian) is a global investment management company servicing institutional, retail and private clients through its subsidiaries. It also manages a proprietary portfolio of securities. Founded in 1962, Guardian's reputation for steady growth, long-term relationships and its core values of trustworthiness, integrity and stability have been key to its success over six decades. Its Common and Class A shares are listed on the Toronto Stock Exchange as GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

For further information, contact:
Donald Yi
Chief Financial Officer
(416) 350-3136
George Mavroudis
President and Chief Executive Officer
(416) 364-8341

Investor Relations: investorrelations@guardiancapital.com.

Caution Concerning Forward-Looking Information

Certain information included in this press release constitutes forward-looking information within the meaning of applicable Canadian securities laws. All information other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "would", "expect", "intend", "estimate", "anticipate", "believe", "should", "plan", "continue", or similar expressions suggesting future outcomes or events or the negative thereof. Forward-looking information in this press release includes, but is not limited to, statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations. Such forward-looking information reflects management's beliefs and is based on information currently available. All forward-looking information in this press release is qualified by the following cautionary statements.

Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves known and unknown risks and uncertainties which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially include but are not limited to: general economic and market conditions, including interest rates, business competition, changes in government regulations, tax laws or tariffs, the duration and severity of pandemics, natural disasters, military conflicts in various parts of the world, as well as those risk factors discussed or referred to in the risk factors section and the other disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca. The reader is cautioned to consider these factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information, as there can be no assurance that actual results will be consistent with such forward-looking information.

The forward-looking information included in this press release is made as of the date of this press release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

(1) Non IFRS Measures
The Company's management uses EBITDA, EBITDA attributable to shareholders, including the per share amount, Adjusted cash flows from operations, Adjusted cash flow from operations attributable to shareholders, including the per share amount, Shareholders' equity per share and Securities per share to evaluate and assess the performance of its business. These measures do not have standardized measures under International Financial Reporting Standards ("IFRS"), and are therefore unlikely to be comparable to similar measures presented by other companies. However, management believes that most shareholders, creditors, other stakeholders and investment analysts prefer to include the use of these measures in analyzing the Company's results. The Company defines EBITDA as net earnings before interest, income taxes, amortization, and stock-based compensation expenses, net gains or losses and net earnings from discontinued operations. EBITDA attributable to shareholders as EBITDA less the amounts attributable to non-controlling interests. The Company defines Adjusted cash flow from operations as net cash from operating activities, net of changes in non-cash working capital items and cash flow from discontinued operations. Adjusted cash flow from operations attributable to shareholders as Adjusted cash flow from operations less the amounts attributable to non-controlling interests. A reconciliation between these measures and the most comparable IFRS measures are as follows:

For the periods ended June 30,Three monthsSix months
($ in thousands)2025202420252024
Net earnings (loss)$ 55,581 $(22,730)$ 48,917 $(1,289)
Add (deduct):
Income tax expense (recovery) 5,530 (2,098) 3,521 1,516
Net (gains) losses (54,983) 39,161 (39,260) 26,424
Stock-based compensation 1,143 1,058 2,187 1,924
Interest expense 1,949 2,629 4,099 5,078
Amortization 5,646 3,356 11,345 6,629
EBITDA 14,866 21,376 30,809 40,282
Less attributable to non-controlling interests (605) (688) (1,268) (1,269)
EBITDA attributable to shareholders$ 14,261 $20,688 $ 29,541 $39,013
For the periods ended June 30,Three monthsSix months
($ in thousands)2025202420252024
Net cash from operating activities$ 12,337 $14,873 $ (33,737)$6,466
Add (deduct):
Net change in non-cash working capital items (1,109) (133) 58,002 23,483
Adjusted cash flow from operations 11,228 14,740 24,265 29,949
Less attributable to non-controlling interests (541) (887) (1,118) (1,409)
Adjusted cash flow from operations attributable to shareholders$ 10,687 $13,853 $ 23,147 $28,540

The per share amounts for EBITDA attributable to shareholders, Adjusted cash flow from operations attributable to shareholders and Shareholders' equity are calculated by dividing the amounts by diluted shares, which is calculated in a manner similar to net earnings attributable to shareholders per share.

Securities, net and Securities, net per share
Securities, net and Securities, net per share are used by management to indicate the value available to shareholders created by the Company's investment in securities, without the netting of debt or deferred income taxes associated with the unrealized gains. The most comparable IFRS measures are "Securities" & "Securities sold short", which are disclosed in the Company's Consolidated Balance Sheet. Securities, net defined as the net sum of Securities and Securities sold short. The per share amount is calculated by dividing the amounts by diluted shares, which is calculated in a manner similar to net earnings attributable to shareholders per share.

More detailed descriptions of these non-IFRS measures are provided in the Company's Management's Discussion and Analysis.


© 2025 GlobeNewswire (Europe)
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