SSC Security Services Corp. Delivers Impressive FY2024 Results: 18% Adjusted EBITDA per Share Growth on 11% Revenue Growth, Buys Back another 3% of the Company

SSC Security Services Corp. (SSC) has announced its FY2024 year-end results, showcasing an impressive 18% increase in adjusted EBITDA per share and an 11% rise in revenue. The company also announced a share buyback program, purchasing an additional 3% of its outstanding shares. These strong results reflect SSC's strategic initiatives and acquisition strategy, which have driven organic growth and enhanced the company's competitive position.

SSC's acquisition strategy has played a significant role in its FY2024 performance. In 2021, the company acquired the Saskatchewan operations of Impact Security Group through its subsidiary SRG Security Resource Group Inc. This acquisition expanded SSC's reach and client base, contributing to its revenue growth. Additionally, in 2022, SSC acquired Logixx Security Inc., a Toronto-based provider of protective and electronic security services. This acquisition further bolstered SSC's presence in the Canadian security market, driving additional revenue growth.

Organic growth has also been a critical factor in SSC's FY2024 results. The company's Q2 2024 revenue of $30.4 million was a 20.6% increase over Q2 2023, primarily driven by internally generated organic growth. This trend continued throughout the year, with YTD revenues ending March 31, 2024, at $61.3 million, a 15.2% increase over the same period last year. This organic growth is attributed to the company's strong management team and employees, who have generated record revenues while containing expenses, leading to improved adjusted EBITDA and overall profitability.

SSC's strategic initiatives have also contributed to its impressive FY2024 results. The company has focused on incremental organic growth, leveraging its experienced leadership team and robust balance sheet to expand its service offerings and client base. SSC has also expanded into new service lines within the security sector, diversifying its revenue streams and enhancing its competitive position. Additionally, the company has continued to invest in its cybersecurity division, launching new partnerships and services to meet the evolving needs of its clients.

The company's share buyback program is another indication of its strong financial performance. By purchasing an additional 3% of its outstanding shares, SSC demonstrates its confidence in its future prospects and commitment to returning value to shareholders.

In conclusion, SSC Security Services Corp.'s FY2024 year-end results reflect the company's strategic initiatives, acquisition strategy, and organic growth. With an 18% increase in adjusted EBITDA per share and an 11% rise in revenue, SSC has proven its ability to drive shareholder value and maintain a strong competitive position in the Canadian security market. As the company continues to execute on its strategic plan, investors can expect to see further growth and value creation in the coming years.