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Canlan Ice Sports Corp. (CNLFF) is a leading North American company that specializes in owning, operating, and programming multi-purpose recreation and entertainment facilities. With a strong focus on ice sports, the company manages 16 facilities in Canada and the United States, offering a total of 48 ice surfaces, five indoor soccer fields, and 20 sport courts. Canlan is committed to providing a high-quality and diverse range of recreational activities for its customers, ensuring safety, comfort, and efficiency are top priorities. Recently, the company announced the retirement of its Executive Vice President, Michael Gellard, who has been a pivotal figure in the organization for 28 years, contributing significantly to its financial management, strategic planning, and overall success.
Canlan Ice Sports reported record Q3 2024 operating revenue of $20.0 million, up 15.7% year-over-year. The company reduced its operating loss to $0.7 million from $3.3 million in 2023. Key growth drivers included increased summer hockey leagues, surface rentals, and tournament activities. The company completed major facility upgrades, including new golf/sports simulators and soccer pitches. A quarterly dividend of $0.03 per share was declared, payable January 15, 2025. For the nine-month period, total revenue reached $68.0 million, a 10.5% increase, with net earnings of $0.4 million.
Canlan Ice Sports Corp. (TSX: ICE) and Cizzle Brands Inc. have entered a five-year strategic agreement to enhance grassroots hockey in Canada. Key points include:
1. Canlan's Etobicoke complex renamed to 'CWENCH Centre - A Canlan Sports Community'
2. CWENCH Hydration becomes the exclusive sports drink at CWENCH Centre and available at all Canlan Sports complexes
3. CWENCH gets a dedicated branded rink at the Centre
4. CWENCH becomes title sponsor for Ontario Canlan Classic Tournaments
Canlan Sports operates 16 sports complexes across North America, serving 100+ sports associations and 200,000+ sports enthusiasts annually. CWENCH Hydration, endorsed by top athletes, offers a sugar-free, low-calorie drink with 7 electrolytes for optimal hydration.
Canlan Ice Sports Corp. (TSX: ICE) reported record-high Q2 revenue of $21.8 million, a 10.3% increase from last year. Despite this, operating earnings decreased to $1.6 million from $2.3 million in 2023 due to increased expenses related to roof remediation and maintenance projects. Food and beverage revenue rose by 12.3% driven by increased tournament business. For the six months ended June 30, 2024, total operating revenue was $48.0 million, up 8.5% year-over-year. The company reported net earnings of $3.1 million or $0.23 per share for this period. Canlan's Board of Directors approved the continuation of its quarterly dividend of $0.03 per common share, payable on October 16, 2024.
Canlan Ice Sports Corp. held its Annual General Meeting of Shareholders on June 19, 2024, at ScotiaBarn in Burnaby, BC. A total of 10,342,502 shares were represented, equating to 77.55% of the company's outstanding shares. During the meeting, the election of directors was conducted via ballot, resulting in 100% of votes being cast in favor of each director: Frank D. Barker, Geoffrey J. Barker, Doug Brownridge, Connie Carras, Don Crowe, Victor D'Souza, Chris McMullen, and Joey St-Aubin. Detailed information regarding each voting matter can be found in the Management Information Circular dated May 9, 2024, available on www.sedarplus.ca. The results of all resolutions voted on at the Meeting have also been filed on the same website.
Canlan Sports has announced the retirement of its Executive Vice President (EVP), Michael Gellard, effective at the end of December 2024.
Gellard has been a pivotal part of Canlan Sports since 1996, starting as Corporate Controller and rising through key financial roles, including VP Finance and CFO, before becoming EVP in 2018. He has significantly contributed to the company’s financial management, risk management, strategic planning, and recent acquisitions and divestitures.
CEO Joey St-Aubin commended Gellard's leadership and dedication, highlighting his role in managing the company's financial structure and providing valuable insights from his involvement in the ASHL recreational hockey league.
Canlan Sports extends gratitude and well wishes to Gellard upon his retirement.
Canlan Ice Sports Corp. reported record Q1 revenue of $26.2 million, a 7.0% increase from the previous year, with net earnings of $4.2 million or $0.32 per share. The company's operational performance improved due to pricing, higher volumes, and increased sales from soccer leagues, surface rentals, and food operations. Despite higher operating expenses and G&A costs, Canlan Sports maintained a solid financial position with a continuation of its quarterly dividend policy.
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