- Kontrol CEO stated in a news release that KNR exited 2018 with a $16 million annualized run rate and positive adjusted EBITDA in Q4
- In Q4, KNR reported a 100 percent YOY increase in sales from the comparable period in 2017
- The sales increase was attributed to a combination of organic growth and accretive acquisitions
Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) recently announced sharply higher sales in FY2018, driven by a 100 percent YOY performance gain in Q4. For FY2018, which ended December 31, 2018, KNR reported $10.7 million in sales, marking a 56 percent YOY increase from $6.9 million in 2017. The company likewise recorded a 100 percent jump in revenues for Q4 to $4.1 million, up from $2.0 million in the prior year (http://nnw.fm/wgI4p).
A combination of organic growth and accretive acquisitions was responsible for KNR’s 2018 performance, the company reported. In addition to the 100 percent YOY sales increase in Q4, the company recorded a $200,685 positive adjusted EBITDA, as compared with a negative $43,737 for the same period of the prior year.
An investor conference call discussing the results was conducted live on April 30. The call will be archived for one year on the company’s website.
“We exit 2018 with a revenue run rate of $16 million annualized,” Kontrol CEO Paul Ghezzi stated in a news release. “With our continued organic growth and next acquisition target announced, we look forward to a robust fiscal 2019.”
KNR is an Ontario, Canada-based innovator in the energy efficiency sector, offering clients market-based, green-energy solutions to reduce energy costs and cut GHG emissions. The company achieves this by applying disruptive and integrated technologies. The aim of KNR is to be an industry leader, providing energy efficiency and emission compliance solutions utilizing IoT, cloud and SaaS technology to reduce energy costs. It recently launched its SmartSuite energy management technology for the global commercial, multiresidential and hospitality real estate markets.
KNR’s strategy is a combination of organic growth and strategic accretive acquisitions. In 2018, KNR bought the operating assets of MCW Dimax Ltd., a specialist in the application of energy analysis software. KNR later acquired the IT formerly licensed to MCW Dimax, which includes two U.S. patents and one Canadian patent (http://nnw.fm/p6gMT). It also acquired CEM Specialties Inc., a market leader in emission monitoring, solutions and equipment.
For more information, visit the company’s website at www.KontrolEnergy.com
NOTE TO INVESTORS: The latest news and updates relating to KNRLF are available in the company’s newsroom at http://nnw.fm/KNRLF
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