TORONTO and MARSEILLES, France, Nov. 16, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”) today announced that it will host a webcast investor presentation on Tuesday, November 21st, 2023, at 11:00 a.m. EST/8:00 a.m. PST.

During the webcast, Tim Bremner, Chief Executive Officer, and Fabien Sevestre, Chief Financial Officer, will conduct a presentation that will cover key areas of Foraco’s business. After the formal presentation, investors will have an opportunity to ask relevant questions through an interactive Q&A portal.

Interested parties looking to attend the webinar can register in … Continue Reading

TORONTO and MARSEILLE, France, Nov. 8, 2023 /CNW/ – Foraco International SA (TSX: FAR), a leading global provider of mineral drilling services, today announced the early redemption of the outstanding senior secured bonds facility of $85 million provided by Marathon Asset Management LP (“Marathon”), along with securing new long-term bank financing from Desjardins and Caisse d’Epargne.

The strong market and the robust operating performance, with a significant operating cash flow, allow Foraco to comprehensively refinance its balance sheet.  To complete this debt refinancing, with an early repayment, Foraco successfully secured approximately $87 million in new debt, backed by its … Continue Reading

TORONTO and MARSEILLE, France, Oct. 30, 2023 /CNW/ – Foraco International SA (TSX: FAR) (“Foraco” or the “Company”), a global leader in drilling services, is pleased to announce its third quarter of 2023. All amounts are denominated in US Dollars (US$) unless otherwise stated.

Q3 2023 Financial Metrics:

Revenue: US$ 95.1 million (+4% YoY)

EBITDA: US$ 25.0 million (+9% YoY)

EBITDA as % of Revenue: 26.3% (up from 25.2% in Q3 2022)

Trailing Twelve Months (TTM) Indicators:

Revenue: US$ 368 million (+17% YoY)

EBITDA: US$ 85.1 million (+45% YoY)

Net Profit: US$ 38.0 million (10.3% of Revenue, +79% YoY)

… Continue Reading

TORONTO and MARSEILLES, France, Oct. 25, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral drilling services, will release its third quarter 2023 financial results, prior to TSX market open on Monday, October 30, 2023. Following the release, Management of the Company will host a Conference Call at 11:30 am ET to review the financial results. The call will be hosted by Tim Bremner, CEO and Fabien Sevestre, CFO.

To join the conference call without operator assistance, you may register and enter your phone number … Continue Reading

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TORONTO and MARSEILLES, France, Sept. 29, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”) today announced that the Toronto Stock Exchange (the “TSX”) has accepted for filing the Company’s Notice in respect of a normal course issuer bid (the “NCIB”) to be transacted through the facilities of the TSX and/or through alternative trading systems.  

Pursuant to the NCIB, Foraco may purchase up to 1,000,000 of its common shares (the “Shares”) representing approximately 1.0075% of the total 99,251,798 common shares of … Continue Reading

TORONTO and MARSEILLE, France, July 27, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), is pleased to announce its second quarter 2023 results. All amounts are denominated in US Dollars (US$) unless otherwise stated.

In Q2 2023, Foraco achieved remarkable financial results, reinforcing its position as a leader in the industry and continued to build on its momentum from the previous quarters, maintaining a trajectory of sustained profitable growth. Notably, the revenue figures for Q2 demonstrate substantial progression, reflecting the Company’s unwavering commitment to delivering advanced drilling services to its clients.

As previously announced, Co-founders … Continue Reading

TORONTO and MARSEILLES, France, July 24, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral drilling services, will release its second quarter 2023 financial results, prior to TSX market open on Thursday, July 27, 2023. Following the release, Management of the Company will host a Conference Call at 11:00 am ET to review the financial results. The call will be hosted by Tim Bremner, CEO and Fabien Sevestre, CFO.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/43DvakD… Continue Reading

Q1 2023 Revenue of US$ 88.4 million (+30% vs last year)

Q1 2023 EBITDA of US$ 19.1 million (+124% vs last year)

Q1 2023 EBITDA of 21.6% of revenue (vs 12.6% of revenue last year)

TTM Revenue of US$ 351 million

TTM EBITDA of US$ 77 million

TTM Net Profit of US$ 33.0 million (9.4% of Revenue)

TORONTO and MARSEILLE, France, April 28, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral and water drilling services, today announced its first quarter 2023 results. All figures are expressed in US Dollars … Continue Reading

TORONTO and MARSEILLES, France, April 21, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral drilling services, will release its first quarter 2023 financial results, prior to TSX market open on Friday, April 28, 2023. Following the release, Management of the Company will host a Conference Call at 10:00 am ET to review the financial results. The call will be hosted by Daniel Simoncini, Chairman & Co-CEO and Jean-Pierre Charmensat, Co-CEO & CFO.

To join the conference call without operator assistance, you may register and enter your phone … Continue Reading

TORONTO and MARSEILLE, France, April 5, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral and water drilling services, today announced it has signed a Preliminary Agreement with its partners to dispose of its participation in Russia.

Foraco was present in Russia through a 50% stake into Eastern Drilling Company (EDC). Since 2010 the Company has been providing technical and out of the country support services to EDC until the beginning of 2022. Today Foraco has formally agreed with its Russian partners to sell them 100% of its shares … Continue Reading

TORONTO and MARSEILLE, France, March 3, 2023 /CNW/ – Foraco International SA (TSX: FAR) (the “Company” or “Foraco”), a leading global provider of mineral and water drilling services, announces today the planned retirement of Chairman and co-CEO Daniel Simoncini and co-CEO and CFO Jean-Pierre Charmensat from their executive management positions effective as of July 1, 2023. Mr. Simoncini and Mr. Charmensat will continue to serve on the Board of Directors and support an orderly transition, and will undertake special projects on behalf of the Board.

Foraco’s Board has unanimously approved the following executive appointments, effective July 1, 2023… Continue Reading

Q4 revenue increased 23% to US$84.9 million

Q4 EBITDA increased 82% to US$17.1 million

FY 2022 revenue increased 23% to US$330.6 million, benefiting from strategic positioning in key commodities

Record FY 2022 EBITDA of US$66.5 million (+55% year-over-year)

Strong FY 2023 backlog of US$229.6 million (+6% year-over-year) confirming strength of business model

FY 2022 utilization rate of 58% (vs. 56% in FY 2021)

Significantly de-levered balance sheet to 1.1x at year-end 2022 (vs. 2.0x at year-end 2021)

Net result for FY 2022 amounted to US$25.8 million

TORONTO and MARSEILLE, France, Feb. 16, 2023 /CNW/ – Foraco International SA … Continue Reading