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CEMATRIX (TSXV:CVX) awarded $6 million in new projects
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  • CEMATRIX has announced record revenue increases for the 2020 fiscal year, making it the third consecutive year of revenue growth
  • The company was awarded two of the largest ever tendered projects in the cellular concrete market in North America in February and December 2020
  • CEMATRIX Corporation is a North American leading manufacturer and supplier of technologically advanced cellular concrete products
  • CEMATRIX (CVX) is up 1.75 per cent and is currently trading at C$0.58 per share

CEMATRIX has announced record revenue increases for the 2020 fiscal year, the third consecutive year of revenue growth.

Revenue grew to $26.6 million versus $22.6 million in 2019.

Overall, revenue was down in the fourth quarter of 2020. However, cash generated from operating activities increased to $1.1 million in Q4 2020 versus $0.6 million in Q4 2019.

Jeff Kendrick, President and CEO of CEMATRIX, commented,

“We are pleased to report to our shareholders that 2020 was another year of record revenue, despite the very challenging global pandemic.”

He added,

“Despite the challenging business climate, CEMATRIX was able to maintain our staff levels, leaving the company well-positioned for growth, including a strong growing backlog of $94.4 million, and the backing of our recently completed $23 million financing.”

The announcement reported several highlights for the fiscal year, including in the fourth quarter.

Most notably, in February 2020 the company was awarded a US$12.3 million infrastructure project in North Carolina, one of the largest ever tendered projects in the cellular concrete market in North America.

In December 2020, CEMATRIX was awarded an even larger U.S. project, a $23.5 million infrastructure project in Missouri.

Jeff Kendrick included a note to CEMATRIX employees in his statement.

“I want to thank all our employees at CEMATRIX, particularly our field staff, for staying safe and making our success possible through hard work and dedication," he said.

CEMATRIX Corporation is a North American leading manufacturer and supplier of technologically advanced cellular concrete products.

CEMATRIX (CVX) is up 1.75 per cent and is trading at C$0.58 per share as of 10:18 am ET. 

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