Category: news

• Sales up 9% in the quarter
• Net Income up 23% in the quarter
• Quarterly dividend raised 17% to $0.07 per common share
• EBITDA up 24% to $21 million in the quarter
• Net cash position increased to $31 million at quarter end

TORONTO, Feb. 3, 2016 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced results for its first quarter ended December 31, 2015. In addition, the Company increased its quarterly dividend by 17% to $0.07 per common share which will be paid on March 30, 2016 to shareholders of record on March 16, 2016.   The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.

Consolidated sales for the first quarter ended December 31, 2015 were $130.9 million compared to $119.9 million in the same quarter last year – an increase of $11.0 million or 9%. The Automotive Solutions segment reported sales of $77.7 million in the first quarter – an increase of $5.2 million or 7% over last year.  The Casting and Extrusion segment reported sales of $53.2 million for the first quarter – an increase of $5.8 million or 12%.

Consolidated net income for the first quarter was $11.8 million or basic and diluted earnings of $0.28 per share compared to $9.6 million or $0.23 per share in the same quarter last year – an increase of 23%. Earnings were impacted by a higher effective consolidated income tax rate of 31% in the current quarter compared to 26.8% last year.

The Automotive Solutions segment reported pretax profit of $9.1 million in the first quarter – an increase of $1.3 million or 16% over last year. The Casting and Extrusion segment reported pretax profit of $10.0 million in the first quarter – an increase of $2.5 million or 34%. Corporate segment expenses remained unchanged at $1.8 million in the first quarter compared to the prior year. 

Strong earnings contributed to higher consolidated EBITDA for the first quarter which totaled $21.0 million compared to $16.9 million in the same quarter last year – an increase of 24%. 

Operational achievement was recognized in the quarter with Neocon receiving Honda’s top supplier excellence award and Polytech receiving the Platinum Toyota Quality Alliance Award.

Over the quarter, the average USD/CAD exchange rate was 17% higher ($1.34 versus $1.14 last year), contributing $9.6 million in additional sales. The average EUR/CAD exchange rate was 4% higher ($1.45 versus $1.41 last year), contributing $1.0 million in sales. Approximately $5.6 million of this benefit to sales was realized in the Automotive Solutions segment while $5.0 million was realized in the Casting and Extrusion segment.

Cash flow from operating activities totalled $17.2 million in the first quarter, including $0.6 million provided by non-cash working capital – a substantial improvement over last year. Cash used in investing activities totalled $9.7 million, mainly for capital equipment purchases. The Company balance sheet remains strong with cash net of bank debt totalling $31.0 million at quarter end compared to $24.5 million as at September 30, 2015.

(For further information and prior year comparison please refer to the Company’s First Quarter Condensed Financial Statements in the Investor Relations section posted at www.excocorp.com.  Alternatively, please refer to www.sedar.com)

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries.  Through our 19 strategic locations in 10 countries, we employ 5,362 people and service a diverse and broad customer base.

To access the live audio webcast, please log on to www.excocorp.com or directly to the web cast here a few minutes before the event.  Questions can be submitted via the Q&A box on the webcast console or by dialling (647) 427-7450 for local (Toronto) calls or toll free at (888) 231-8191.  Microsoft Media Player is required for access to the webcast.  For those unable to listen on February 3, 2016, an archived version will be available on the Exco website.

Any information in this document relating to projected growth and financial performance of the Company’s business units, contribution of our start-up business units, contribution of awarded programs yet to be launched, margin performance, financial performance of acquisitions and operating efficiencies are forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements found mainly in the Outlook section but also elsewhere throughout this document.  These forward-looking statements are based on our plans, intentions or expectations which are based on, among other things, assumptions about the number of automobiles produced in North America and Europe, the number of extrusion dies required in North America and South America, the rate of economic growth in North America, Europe and emerging market countries, investment by OEMs in drivetrain architecture and other initiatives intended to reduce fuel consumption and/or the weight of automobiles, weakening raw material prices, continuing economic recovery, currency fluctuations which may in fact not occur and the rate at which our new operations in Brazil and Thailand achieve profitability. These forward-looking statements include known and unknown risks, uncertainties, assumptions and other factors which may cause actual results or achievements to be materially different from those expressed or implied.  For a more extensive discussion of Exco’s risks and uncertainties see the ‘Risks and Uncertainties’ section in this Annual Report, our Annual Information Form (“AIF”) and other reports and securities filings made by the Company.  This information is available at www.sedar.com.

While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct.  In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive.  Furthermore, the Company will update its disclosure upon publication of each fiscal quarter’s financial results and otherwise disclaims any obligations to update publicly or otherwise revise any such factors or any of the forward-looking information or statements contained herein to reflect subsequent information, events or developments, changes in risk factors or otherwise. 

SOURCE Exco Technologies Limited

For further information:

TORONTO, Jan. 13, 2016 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced that it will report its financial results for the first quarter ended December 31, 2015 after the close of business on Wednesday February 3, 2016.

The Annual General Meeting of Shareholders of Exco Technologies Limited will also take place on February 3, 2016 at 4:30 p.m. (Toronto time) at Exco’s corporate office and management will discuss year-end and first quarter results at that time. Management will also take questions from the public at that time.

To access the live audio webcast, please log on to www.excocorp.com, or http://event.on24.com/r.htm?e=1107555&s=1&k=012A736AA640DC5C058A2582D9B0618A a few minutes before the event.  The conference call can be accessed by dialling (647) 427-7450 for local (Toronto) calls or toll free at (888) 231-8191.

Questions can be submitted via the Q&A box on the webcast console or via the conference call. 
For those unable to participate on February 3, 2016, an archived version will be available on the Exco website.

SOURCE Exco Technologies Limited

For further information:

• Sales up 18% in the quarter
• Earnings up 27% in the quarter
• EPS reduced by $0.05 for impact of tax asset write-off
• $24.5 million cash, net of bank indebtedness
• EBITDA up 41% to $21.9 million in the quarter

TORONTO, Dec. 2, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced results for its fourth quarter and year ended September 30, 2015. In addition, the Company announced the quarterly dividend of $0.06 per common share which will be paid on December 30, 2015 to shareholders of record on December 16, 2015. The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.

Consolidated sales for the fourth quarter were $131.0 million – an increase of 18% compared to last year. Full year, consolidated sales were $498.3 million – up 35% over last year. Sales from our seat cover business which was acquired by Exco on March 1, 2014 were fully included in both the current and prior year quarters. However, full year sales this year included twelve months of seat cover sales compared to seven months last year. While seat cover sales accounted for a considerable amount of the sales growth Exco’s other businesses also grew by 24% in the quarter and 21% in the year.

The Automotive Solutions segment reported significantly higher sales of $78.5 million in the fourth quarter and $303.1 million for the year – increases of 21% and 52% respectively. Seat cover sales in the quarter were up 6% to $36.3 million and for the year were up 77% to $148.3 million once again reflecting full year inclusion compared to seven months last year. The other businesses in this segment experienced strong growth in both the quarter and the year by 38% and 35% respectively. North American sales continued at elevated levels – sustained by strong vehicle unit sales as well as new product launches for refreshed, redesigned or entirely new vehicle models. European sales increased substantially over prior year as the smooth launch of new programs in Morocco continued at a strong pace and our Bulgarian operation completed the launch of our Mini variants as well as some other non-seat cover programs. Improving European vehicle unit sales have also helped support our sales.

The Casting and Extrusion segment reported sales of $52.5 million for the fourth quarter and $195.2 million for the year – increases of 14% and 15% respectively. All businesses in the segment contributed to these sales increases. Sales in this segment were supported by generally buoyant market conditions in North America and in the case of Castool Europe and Asia as well. Combined sales from our greenfield facilities in Brazil and Thailand contributed modestly at $1.7 million in the quarter ($721 thousand – 2014) and $5.1 million for the year ($758 thousand – 2014).

Consolidated net income for the fourth quarter was $10.3 million or diluted earnings of $0.24 per share compared to consolidated net income of $8.1 million or diluted earnings of $0.19 per share last year – an increase of 27%. Full year consolidated net income was $40.8 million or diluted earnings of $0.96 per common share compared to $30.7 million or diluted earnings of $0.73 per common share last year – an increase of 33%.

The quarter’s earnings were impacted by a 42% effective tax rate compared to 27% last year. In the quarter Exco wrote off $1.9 million in deferred tax assets related to South Africa as the planned closure of that facility renders the utilization of these tax assets unlikely in the future. Without this write-off the tax expense would have been $5.5 million or 31% and earnings would have been $0.29 per share instead of $0.24 per share as reported.

The Automotive Solutions segment reported higher pretax profit of $10.1 million in the fourth quarter – an increase of 59% over last year. For the full year, the segment also reported higher pretax profit of $36.6 million – an increase over last year of 53%. In both Europe and North America, stronger sales provided increased earnings. This earnings improvement took place in spite of continuing weakness at ALC South Africa/Lesotho which experienced higher losses in the quarter as production was moved among plants and as provisions were taken in the run up to the closure of the South Africa facility. These losses amounted to $0.05 per share in the quarter and $0.15 per share in the year.

The Casting and Extrusion segment reported pretax profit of $9.5 million in the fourth quarter compared to $6.8 million last year – an increase of 40%. For the full year, the segment reported pretax profit of $32.4 million compared to $25.0 million last year – an increase of 30%. These improvements took place in spite of start-up costs at our two greenfield facilities – Extrusion Brazil and Castool Thailand. Excluding these start-up costs, which are expected to recede as production increases, pretax income in the current quarter and full year for this segment would have been $10.3 million and $35.4 million compared to $7.2 million and $26.9 million in the same periods last year. This represents an increase of 43% in the quarter and 32% full year.
Consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the fourth quarter increased to $21.9 million compared to $15.6 million last year – an increase of 40%. For the full year, consolidated EBITDA also increased to $77.0 million compared to $53.9 million last year – an increase of 43%.

Cash provided by operating activities increased slightly to $41.2 million compared to $40.4 million last year – a steady level despite funding working capital required to grow sales by 35%. Exco had no net bank debt as at September 30, 2015 and closed the year with net cash deposits of $24.5 million compared to $7.8 million at the end of the 2014 fiscal year.

The outlook for Exco over the near term should continue to remain strong. We continue to see a buoyant and dynamic quoting environment with light vehicle production continuing at least at current levels despite the possibility of moderate interest rate tightening in the US. The European market also seems to be improving with unit vehicle production climbing modestly yet consistently. The Automotive Solutions group is also actively engaged in quoting on both existing programs and new content. Losses will continue at our greenfields in Brazil and Thailand in the near term with gradual improvement as manufacturing capabilities mature and higher production levels help to more efficiently absorb overheads. The expected closure of the South Africa facility in the second fiscal quarter is expected to significantly benefit earnings and enable management to focus on the remaining Lesotho operation.

All our businesses continue experiencing a favorable input cost environment with relatively abundant supply of both tool grade steel and resin sheet and other polymer-based materials. Pricing of these input costs are also stable with little upward pressure as both global sourcing by our business units and persistently low prices for key commodities such as oil and base metals commodities, although partly mitigated by the strengthening US dollar, make it difficult for upward cost momentum to take root.

(For further information and prior year comparison please refer to the Company’s Fourth Quarter Condensed Financial Statements in the Investor Relations section posted at www.excocorp.com. Alternatively, please refer to www.sedar.com)

Quarterly Conference Call:
To access the live audio webcast, please log on to www.excocorp.com or
http://event.on24.com/r.htm?e=1096759&s=1&k=2C4C114CA78D54EE4ABC2CD04651A2EC a few minutes before the event. Real Player is required for access. For those unable to participate on December 3, 2015, an archived version will be available on the Exco website.

About Exco Technologies Limited:
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 18 strategic locations in 10 countries, we employ 5,302 people and service a diverse and broad customer base.

Notice To Reader: Forward Looking Statements
Information in this document relating to projected growth and financial performance of the Company’s business units, contribution of our start-up business units, contribution of awarded programs yet to be launched, margin performance, financial performance of acquisitions and operating efficiencies are forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements found mainly in the Outlook section but also elsewhere throughout this document. These forward-looking statements are based on our plans, intentions or expectations which are based on, among other things, assumptions about the number of automobiles produced in North America and Europe, the number of extrusion dies required in North America and South America, the rate of economic growth in North America, Europe and emerging market countries, investment by OEMs in drivetrain architecture and other initiatives intended to reduce fuel consumption and/or the weight of automobiles, weakening raw material prices, continuing economic recovery, currency fluctuations which may in fact not occur and the rate at which our new operations in Brazil and Thailand achieve profitability. These forward-looking statements include known and unknown risks, uncertainties, assumptions and other factors which may cause actual results or achievements to be materially different from those expressed or implied. For a more extensive discussion of Exco’s risks and uncertainties see the ‘Risks and Uncertainties’ section in the Annual Report, our Annual Information Form (“AIF”) and other reports and securities filings made by the Company. This information is available at www.sedar.com.

While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct. In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive. Furthermore, the Company will update its disclosure upon publication of each fiscal quarter’s financial results and otherwise disclaims any obligations to update publicly or otherwise revise any such factors or any of the forward-looking information or statements contained herein to reflect subsequent information, events or developments, changes in risk factors or otherwise.

1 Non-IFRS Measures: In this News Release, reference is made to EBITDA, which is not a measure of financial performance under International Financial Reporting Standards (“IFRS”). Exco calculates EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA is used by management, from time to time, to facilitate period-to-period operating comparisons and we believe some investors and analysts use them as well. This measure, as calculated by Exco, may not be comparable to similarly titled measures used by other companies.

SOURCE Exco Technologies Limited

For further information:

TORONTO, Nov. 17, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced that it will report its financial results for the fourth quarter ended September 30, 2015 after the close of business on Wednesday December 2, 2015.

A conference call to discuss those results will be held on Thursday, December 3, 2015 at 10:00 a.m. (Toronto time) which can be accessed by dialling (647) 427-7450 for local (Toronto) calls or toll free at (888) 231-8191.

To access the live audio webcast, please log on to www.excocorp.com, or http://event.on24.com/r.htm?e=1096759&s=1&k=2C4C114CA78D54EE4ABC2CD04651A2EC a few minutes before the event. Real Player is required for access. For those unable to participate on December 3, 2015, an archived version will be available on the Exco website.

SOURCE Exco Technologies Limited

For further information:

Contact: Paul Riganelli, Chief Operating Officer & Senior Vice-President,
Telephone: (905) 477-3065 Ext. 7228,
Website: https://www.excocorp.com

TORONTO, Sept. 18, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) is pleased to acknowledge its addition to the S&P/TSX Small Cap Index after the close of trading today.

In view of this welcome development, President and CEO Brian A. Robbins remarked: “Exco’s inclusion in the S&P/TSX is a significant milestone in our continuing growth as a public company and a tribute to the hard work and dedication of more than 5,000 employees around the world.”

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 18 strategic locations in 10 countries, we employ 5,146 people and service a diverse and broad customer base.

SOURCE Exco Technologies Limited

For further information:

• Sales up 10% in the quarter
• Earnings up 19% in the quarter
• $25.5 million cash on hand
• $10.8 million cash, net of bank indebtedness
• EBITDA up 22% to $18.2 million in the quarter

TORONTO, July 22, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced results for its third quarter ended June 30, 2015. In addition, the Company announced the quarterly dividend of $0.06 per common share which will be paid on September 27, 2015 to shareholders of record on September 16, 2015. The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.

Overall, Exco’s sales for the third quarter at $121.9 million continued its growth trend with an increase of $11.0 million or 10%. Year-to-date sales were $367.3 million – an increase over last year of $110.0 million or 43%. The ALC acquisition closed March 1, 2014. Accordingly, ALC sales are fully included in the current quarter, the prior year quarter and the current year-to-date. Whereas, last year-to-date has only four month’s inclusion. This has been a major contributor to the dramatic year-to-date sales growth over last year. However, in the third quarter where ALC was fully included in the prior year quarter, it was our other businesses which accounted for most of the growth.

The Automotive Solutions segment reported significantly higher sales of $75.5 million in the third quarter – an increase of $9.2 million or 14% over last year. In the quarter ALC sales levelled off as the Mini launches are nearing completion and launch of the new Audi business does not begin until 2016. ALC sales were also impacted in the quarter as the X1 program came to an end and BMW’s take-rate in May was only three weeks rather than four. The other businesses in this segment – particularly in North America by Polytech and Neocon – are primarily responsible for the significant growth in the third quarter due to strong vehicle unit sales and many new product launches. Year-to-date, the segment also reported higher sales of $224.6 million – an increase of $90.8 million or 68% over last year. As previously indicated, ALC was fully included in the current year-to-date results compared to inclusion of only four months of sales last year. This accounts for the majority of the year-to-date growth in this segment although our other businesses grew by 47% as well.

The Casting and Extrusion segment reported sales of $46.4 million for the third quarter – an increase of $1.8 million or 4% over last year. Year-to-date, the segment also reported higher sales of $142.6 million – an increase of $19.2 million or 16% over last year. All businesses in the segment contributed to this sales increase. The large mould business group is experiencing strong rebuild demand on existing programs combined with surging demand for development and production of moulds on new programs. Sales at the Extrusion group were supported by strong market conditions in North America but also by climbing sales at our recently acquired Texas operation (2013) and our greenfield operation in Brazil which started commercial production in June 2014. While sales at Castool were higher overall, strong sales momentum by our greenfield operation in Thailand which also started commercial production in June 2014 more than compensated for the modestly lower sales experienced at Castool Canada.

Net income for the third quarter was $10.0 million or basic earnings of $0.24 cents per share and diluted earnings of $0.23 per share compared to net income of $8.3 million or basic and diluted earnings of $0.20 per share in the same quarter last year – an increase of 19%. Year-to-date net income was $30.5 million or diluted earnings of $0.72 per share compared to net income of $22.5 million or diluted earnings of $0.54 per share last year – an increase of 35%. Net income was impacted by 1 cent per share in the quarter and 2 cents per share year-to-date by withholding tax for repatriation of foreign earnings. Net income was also impacted by stock-based compensation costs of 1.5 cents per share year-to-date. The third quarter impact was negligible.

The Automotive Solutions segment reported higher pretax profit of $10.0 million in the third quarter – an increase of $2.9 million or 42% over last year. Year-to-date, the segment also reported higher pretax profit of $26.5 million – an increase of $8.9 million or 51% over last year. The Casting and Extrusion segment reported pretax profit of $6.4 million in the third quarter. This is consistent with last year’s pretax profit of $6.5 million as sales were not materially higher than last year. Year-to-date, the segment reported higher pretax profit of $22.9 million – an increase of $4.6 million or 25% over last year.

EBITDA for the third quarter was $18.2 million compared to $14.9 million in the same quarter last year – an increase of 22%. Year-to-date EBITDA was $55.1 million compared to $38.4 million – an increase of 43% over last year. EBITDA is a non-IFRS measure. Exco calculates EBITDA as earnings before interest, taxes, depreciation and amortization. Management believes EBITDA is a useful measure that facilitates period-to-period operating comparisons and we believe some investors and analysts use it as well. This measure, as calculated by Exco, does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measure presented by other issuers. EBITDA should not be considered in isolation or as a substitute for net income prepared in accordance with IFRS as issued by International Accounting Standards Board.

Overall cash provided by operating activities increased to $13.6 million in the current quarter and $18.6 million year-to-date compared to $3.8 million and $25.4 million in the same periods last year. The Company remains net bank debt-free despite $13.2 million in capital expenditures and $22.8 million invested in non-cash working capital in the nine months of the current fiscal year which was required to support our growing businesses. The net cash position at the close of the third quarter was $10.8 million compared to $6.8 million at the end of the second quarter and $10.0 million at the end of last fiscal year (September 30, 2014).

The outlook for Exco over the balance of the year continues to be consistent with the last several quarters. Economic conditions in North America – especially in the automotive sector – continue to be favorable. The European automotive market seems to be improving at a gradual pace. Unit sales of light vehicles should continue to benefit from low borrowing costs and significantly improved fuel mileage of new vehicles should also drive stronger demand. Modest short term interest rate increases, if implemented at all in the United States, are not expected to fundamentally change this demand picture. OEM plans to refresh and redesign vehicle models and the numerous announcements by Japanese, South Korean and German OEMs to build assembly plants and otherwise expand production in North America over the next several years should support near to midterm demand.

This is expected to directly benefit our automotive component businesses in North America which should continue to experience strong sales and earnings complemented by efficient overhead absorption. Furthermore, this should also indirectly benefit our large mould businesses and Castool which sell moulds and consumable components/tooling to OEMs and their tiers.

Our North American extrusion tooling businesses and our tool shops in Colombia and Texas are experiencing growing sales in their respective markets. Extrusion Brazil and Castool Thailand sales are growing as these two businesses approach their first year of commercial production. Castool Thailand has achieved positive cash flow in two of the last three quarters and Brazil’s performance continues to improve despite poor local economic conditions.

We expect to continue generating cash from our operations and growing our net cash position despite investing heavily in new equipment and a new plant in Texas this year. We also continue to be vigilant regarding potential ‘tuck-under’ acquisitions which bolster or complement our core capabilities.
(For further information and prior year comparison please refer to the Company’s Third Quarter Condensed Financial Statements in the Investor Relations section posted at www.excocorp.com. Alternatively, please refer to www.sedar.com)

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 18 strategic locations in 10 countries, we employ 5,146 people and service a diverse and broad customer base.

To access the live audio webcast, please log on to www.excocorp.com or directly to the web cast at http://event.on24.com/r.htm?e=1021676&s=1&k=732853CB3F45F8C29208ACC602F460D1 a few minutes before 10:00 AM on July 23, 2015. Microsoft Media Player is required for access. For those unable to listen on July 23, 2015, an archived version will be available on the Exco website.

Information in this document relating to projected growth and financial performance of the Company’s business units, contribution of our start-up business units, contribution of awarded programs yet to be launched, margin performance, financial performance of acquisitions, timing of plant shutdowns and operating efficiencies are forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements found mainly in this news release. These forward-looking statements are based on our plans, intentions or expectations which are based on, among other things, assumptions about the number of automobiles produced in North America and Europe, the number of extrusion dies required in North America and South America, the rate of economic growth in North America, Europe and emerging market countries, investment by OEMs in drivetrain architecture and other initiatives intended to reduce fuel consumption and/or the weight of automobiles, weakening raw material prices, continuing economic recovery, currency fluctuations which may in fact not occur and the rate at which our new operations in Brazil, Thailand and South Africa/Lesotho achieve profitability. These forward-looking statements include known and unknown risks, uncertainties, assumptions and other factors which may cause actual results or achievements to be materially different from those expressed or implied. For a more extensive discussion of Exco’s risks and uncertainties see the ‘Risks and Uncertainties’ section in the 2014 Annual Report, our 2014 Annual Information Form (“AIF”) and other reports and securities filings made by the Company. This information is available at www.sedar.com.

While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct. In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive. Furthermore, the Company will update its disclosure upon publication of each fiscal quarter’s financial results and otherwise disclaims any obligations to update publicly or otherwise revise any such factors or any of the forward-looking information or statements contained herein to reflect subsequent information, events or developments, changes in risk factors or otherwise.

SOURCE Exco Technologies Limited

For further information:

TORONTO, July 7, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced that it will report its financial results for the third quarter ended June 30, 2015 on Wednesday July 22, 2015.

A conference call to discuss those results will be held on Thursday, July 23, 2015 at 10:00 a.m. (Toronto time) which can be accessed by dialling (647) 427-7450 for local (Toronto) calls or toll free at (888) 231-8191.

To access the live audio webcast, please log on to www.excocorp.com, or http://event.on24.com/r.htm?e=1021676&s=1&k=732853CB3F45F8C29208ACC602F460D1 a few minutes before the event. Real Player is required for access. For those unable to participate on July 23, 2015, an archived version will be available on the Exco website.

For further information:

• Sales up over 50% in the quarter
• Earnings up 46% in the quarter
• $25.3 million cash on hand
• $6.8 million cash, net of bank indebtedness
• EBITDA up 60% to record high of $19.9 million in the quarter

TORONTO, April 22, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced results for its second quarter ended March 31, 2015. In addition, the Company announced the quarterly dividend of $0.06 per common share which will be paid on June 26, 2015 to shareholders of record on June 12, 2015. The dividend is an “eligible dividend” in accordance with the Income Tax Act of Canada.

Overall, Exco’s sales for the second quarter at $125.5 million continued its growth trend with an increase of $43.1 million or 52%. Year-to-date sales were $245.4 million – an increase over last year of $99.0 million or 68%. ALC sales are fully included in both the quarter and year-to-date compared to only one month inclusion for both periods last year. This has been a major contributor to the overall sales growth. However, combined sales of our other businesses in both segments also grew dramatically.

The Automotive Solutions segment reported significantly higher sales of $76.6 million in the second quarter – an increase of $34.0 million or 80% over last year. Year-to-date, the segment more than doubled its sales to $149.1 million – an increase of $81.5 million or 121% over last year. As previously indicated ALC was fully included in both the current quarter and year-to-date compared to inclusion of only one month of sales last year. This accounts for the majority of the growth in this segment, however, the other businesses – particularly Polytech and Neocon in North America where there are strong vehicle unit sales and many new product launches – have also increased sales by over 35% in both the quarter and year-to-date.

The Casting and Extrusion segment reported sales of $48.9 million in the quarter – an increase of $9.0 million or 23% over last year. Year-to-date, the segment also reported higher sales of $96.3 million – an increase over last year of $17.4 million or 22%. All businesses in the segment contributed to this sales increase with the large mould business leading the segment. This business group is experiencing strong demand on existing programs combined with surging demand for both development and production of moulds on new programs. Sales at the Extrusion group were supported by strong market conditions in North America but also by climbing sales at our recently acquired Texas operation and our greenfield operation in Brazil which started commercial production in June 2014. Sales at Castool reflected continuing strong market conditions in North America and Asia in the quarter as well as strong sales momentum by our greenfield operation in Thailand which also started commercial production in June 2014.

Net income for the second quarter was $10.9 million or diluted earnings of $0.26 per share compared to $7.5 million or $0.18 per share last year – an increase of 46%. Year-to-date net income was $20.5 million or diluted earnings of $0.48 per share compared to $14.2 million or $0.34 per share last year – an increase of 45%.

The Automotive Solutions segment reported higher pretax profit of $8.7 million in the second quarter – an increase of $2.6 million or 42% over last year. Year-to-date, the segment also reported higher pretax profit of $16.5 million – an increase of $5.9 million or 56% over last year. The Casting and Extrusion segment also reported higher pretax profit of $9.1 million in the second quarter – an increase of $3.2 million or 54% over last year. Year-to-date, the segment also reported higher pretax profit of $16.5 million – an increase of $4.7 million or 40% over last year.

EBITDA for the second quarter was $19.9 million compared to $12.4 million in the same quarter last year – an increase of 60%. Year-to-date EBITDA was $36.8 million compared to $23.5 million – an increase of 57% over last year. EBITDA is a non-IFRS measure. Exco calculates EBITDA as earnings before interest, taxes, depreciation and amortization. Management believes EBITDA is a useful measure that facilitates period-to-period operating comparisons and we believe some investors and analysts use it as well. This measure, as calculated by Exco, does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measure presented by other issuers. EBITDA should not be considered in isolation or as a substitute for net income prepared in accordance with IFRS as issued by International Accounting Standards Board.

Operating cash flow is strong and the Company remains net bank debt-free despite $7.8 million in capital expenditures and $22.5 million invested in non-cash working capital year-to-date which was required to support our growing businesses. The net cash position at the close of the second quarter was $6.8 million compared to $3.3 million at the end of the first quarter and $10.0 million at the end of last fiscal year (September 30, 2014).

The prospects for the rest of the year continue to remain good. The economic recovery in North America – both in the automotive sector and the greater economy – appears to be intact and is expected to continue at its current level. The European automotive market seems to be improving, although at a gradual pace. Unit sales of light vehicles should continue to benefit from low borrowing costs and significantly improved mileage of new vehicles should also drive stronger demand. The announcement by most OEMs in both North America and Europe of aggressive plans to refresh/redesign and/or launch entire new models over the next several years should sustain strong long-term demand as well. This should directly benefit our automotive component businesses which should continue to experience strong sales and earnings driven by efficient overhead absorption, as well as, indirectly benefit our large mould businesses and Castool which sell moulds and consumable components/tooling to OEMs and their tiers.

Our North American extrusion tooling businesses are experiencing growing sales and our tool shops in Colombia and Texas are capturing market share in their regional markets. Extrusion Brazil and Castool Thailand should also improve as sales continue to ramp up. All these factors, taken together, should sustain sales.

Input prices of products such as steel and plastics continue to moderate however; the strengthening US dollar is increasing the cost of these inputs at our Canadian and other non-US foreign operations. While the weak Canadian dollar is expected to continue to benefit Exco’s sales the weakening Euro may erode Exco’s competitive position in North America as European competitors become increasingly competitive with the weakening of the Euro.

(For further information and prior year comparison please refer to the Company’s First Quarter Condensed Financial Statements in the Investor Relations section posted at www.excocorp.com. Alternatively, please refer to www.sedar.com)

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 18 strategic locations in 10 countries, we employ 5,202 people and service a diverse and broad customer base.

To access the live audio webcast, please log on to www.excocorp.com or directly to the web cast at http://www.newswire.ca/en/webcast/detail/1510837/1684285 a few minutes before 10:00 AM on April 23, 2015. Microsoft Media Player is required for access. For those unable to listen on April 23, 2015, an archived version will be available on the Exco website.

Information in this document relating to projected growth and financial performance of the Company’s business units, contribution of our start-up business units, contribution of awarded programs yet to be launched, margin performance, financial performance of acquisitions and operating efficiencies are forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements found mainly in this news release. These forward-looking statements are based on our plans, intentions or expectations which are based on, among other things, assumptions about the number of automobiles produced in North America and Europe, the number of extrusion dies required in North America and South America, the rate of economic growth in North America, Europe and emerging market countries, investment by OEMs in drivetrain architecture and other initiatives intended to reduce fuel consumption and/or the weight of automobiles, weakening raw material prices, continuing economic recovery, currency fluctuations which may in fact not occur and the rate at which our new operations in Brazil, Thailand and South Africa/Lesotho achieve profitability. These forward-looking statements include known and unknown risks, uncertainties, assumptions and other factors which may cause actual results or achievements to be materially different from those expressed or implied. For a more extensive discussion of Exco’s risks and uncertainties see the ‘Risks and Uncertainties’ section in this Annual Report, our Annual Information Form (“AIF”) and other reports and securities filings made by the Company. This information is available at www.sedar.com.

While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct. In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive. Furthermore, the Company will update its disclosure upon publication of each fiscal quarter’s financial results and otherwise disclaims any obligations to update publicly or otherwise revise any such factors or any of the forward-looking information or statements contained herein to reflect subsequent information, events or developments, changes in risk factors or otherwise.

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TORONTO, April 22, 2015 /CNW/ – The Board of Directors of Exco Technologies Limited (TSX-XTC) are pleased to announce, effective May 19, 2015, the appointment of Drew Knight, as Chief Financial Officer and Vice President Finance. Drew has a BComm degree from the University of Toronto and is a member of the Institute of Chartered Accountants of Ontario with a CPA (CA) designation. Drew is a seasoned business and financial executive with broad experience with large global manufacturing enterprises and the North American automobile industry. He will be particularly valuable as we continue to grow the business and further strengthen Exco’s competitive position.

Drew replaces departing Chief Financial Officer and Vice President Finance, Mary Nguyen who is leaving Exco after eight years of diligent and trusted service to the company. We would like to thank Mary for her valued contribution to Exco’s success and wish her the best in her future endeavours.

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 18 strategic locations in 10 countries, we employ 5,202 people and service a diverse and broad customer base.

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TORONTO, April 2, 2015 /CNW/ – Exco Technologies Limited (TSX-XTC) today announced that it will report its financial results for the second quarter ended March 31, 2015 on Wednesday April 22, 2015.
A conference call to discuss those results will be held on Thursday, April 23, 2015 at 10:00 a.m. (Toronto time) which can be accessed by dialling (647) 427-7450 for local (Toronto) calls or toll free at (888) 231-8191.

To access the live audio webcast, please log on to www.excocorp.com, or http://www.newswire.ca/en/webcast/detail/1510837/1684285 a few minutes before the event. Real Player is required for access. For those unable to participate on April 23, 2015, an archived version will be available on the Exco website.

For further information: