Premium Brands Holdings Corporation posted increases in its earnings and revenue in Q4 2024, capping off a record-breaking FY 2024.
Premium Brands posted revenue of CAD 1.64 billion (USD 1.14 billion, EUR 1.06 billion) in Q4 2024, a CAD 84.4 million (USD 59 million, EUR 54.6 million), or 5.4 percent, increase over Q4 2023. Its adjusted EBITDA in the same period also increased, hitting a record of CAD 148.7 million (USD 103.9 million, EUR 96.2 million) and an increase of CAD 11.5 million (USD 8 million, EUR 7.4 million), or 8.4 percent, over Q4 2023.
“2024 finished on a strong note driven by our Protein and Bakery Groups’ U.S. sales initiatives, which generated approximately CAD 50 million [USD 35 million, EUR 32 million] in sales volume growth in the quarter,” Premium Brands President and CEO George Paleologou said in a release.
The record fourth quarter capped off a record FY 2024 for the company.
According to its earnings report, Premium Brands posted CAD 6.47 billion (USD 4.5 billion EUR 4.2 billion) in revenue in FY 2024, an increase of CAD 209.5 million (USD 146.5 million, EUR 135.6 million), or 3.3 percent, over FY 2023. Its adjusted EBITDA also hit record levels, reaching CAD 593.7 million (USD 415.2 million, EUR 384.3 million), a CAD 34.6 million (USD 24.2 million, EUR 22.4 million), or 6.2 percent, increase over FY 2023.
The record numbers in Q4 2024 and for FY 2024 were reported as the company – which is based in Canada – prepares to grapple with a potential trade war between the U.S. and Canada. Paleologou said despite its location and cross-border ties, the company expects its long-term strategies will benefit it amid the uncertainty.
“We are pleased to report that our strategic focus on generally manufacturing in the jurisdictions that we sell has positioned us relatively well to manage any tariff headwinds,” Paleologou said. “Some of our businesses do ship products across borders; however, we are confident that we will be able to largely mitigate the impact of tariffs on these sales.”
Paleologou said the company’s specialty foods segment has a network of ...
