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Dexterra Group Inc.
5/15/2024
Good morning, ladies and gentlemen. Welcome to the Dextera Group's first quarter results conference call. I would now like to turn the meeting over to Denise Achanu, Chief Financial Officer. Please go ahead.
Thank you, Giselle, and good morning. My name is Denise Achanu, and I'm pleased to join you as the Chief Financial Officer of Dextera Group, Inc. With me today on the call are Mark Becker, our CEO, and our Board Chair, Bill McFarland. who will provide some brief introductory comments. After a brief presentation, we will take questions. We will be commenting on our Q1 2024 results with the assumption that you have read the Q1 earnings press release, MD&A, and financial statements. The slide presentation which supports today's comments is posted on our website, and we encourage participants to access the slides and follow along with our presentation. Before we begin, I would like to make some comments about forward-looking information. In yesterday's news release and on slide two of the presentation that we have posted to our website, you will find cautionary notes in that regard. I won't cover the content of the cautionary notes in any detail. However, we do claim their protection for any forward-looking information that we might disclose on this conference call today. I will now turn it over to Bill McFarland for his introductory comments.
Thank you, Denise, and good morning to everyone joining the call. We are off to a good start in 2024 in our continuing operations and are pleased with the progress and foundation we're building in both IFM and WAFS. In 2024, we expect IFM EBITDA to be about double our EBITDA in 2022, and WAFS should continue to deliver very strong profitability. As previously announced, we are also in the process of selling our modular business, and as a result, In Q1, the earnings from this business are classified as discontinued operations. The sale of the modular business allows the company to focus on our two profitable support services businesses, repay debt, and deploy capital in areas of the business with stronger returns. As noted before, we believe this decision will be positive for our shareholders, modular customers, and employees. Our goal in 2024 is to continue to build on our successes in IFM and WAFs and build a business for the long term that is competitive, delivers reliable results, and strong shareholder returns while maintaining a strong balance sheet. We look forward to presenting the updated path forward and plan at our June Annual General Meeting. I will now pass it over to Mark Becker for his comments.
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