Titanium reports more revenue, EBITDA in 2016

BOLTON, ON – Despite reporting a net loss of $62,091 in 2016, Titanium Transportation Group has revealed it generated $116.6 million in revenue in 2016, a 6% increase compared to revenues in 2015. In addition, the company is reporting its 2016 Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was also up at $11.9 million, just slightly up over 2015.

While the company’s 2016 logistics segment revenue slumped to $33.9 million, a 14% decrease compared to 2015, the company did see a 17% increase in its truck transportation segment with revenues of $84 million. The company says 2016 results reflect the weaker economic conditions in 2016 compared to 2015 and that both its truck transportation and logistics segments are well positioned for market improvements in 2017.

Last year also saw the acquisitions of Muskoka Transport and ProNorth Transportation, with Titanium Transportation acquiring and integrating a new Windsor terminal into its logistic network.

The company says it and the market are aligned for 2017, and expects to see more acquisitions this year as it executes its fully funded acquisition strategy.

“Titanium’s resilient team and investment in technology and new equipment, allowed the Company to tackle the challenges that impacted the transportation industry in 2016. Titanium is well positioned for improvements in the economy and for future acquisitions,” said Ted Daniel, Chief Executive Officer of Titanium Transportation.

 


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