CALGARY, Alberta, April 10, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV:CVX) (OTCQB:CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced the release of its consolidated financial results for the quarter and year ending December 31, 2023. "We are delighted to announce another remarkable quarter culminating in a record year that produced the best financial results in the history of the Company," stated Jeff Kendrick, President and CEO of CEMATRIX. "I am pleased to report record revenue, strong margins, and a record twelve-month adjusted EBITDA of $4.9 million. The record fourth quarter was the result of a push by general contractors to get work completed before the colder (sub-zero) temperatures arrived. Along with our solid financial performance, I would like to highlight CEMATRIX's sales and sales support teams that have played a monumental part increasing market acceptance for the various applications of cellular concrete, while simultaneously landing new projects that have helped drive such positive results. The increase in our backlog to $94.9 millions as at December 31, 2023, in the context of record revenues on the year is a testament to the successful efforts and performance of our sales staff," stated Mr. Kendrick. "Revenue for the fourth quarter was $19.6 million compared to $8.3 million in the fourth quarter of 2022, a 136% increase. Gross margins improved to $5.4 million (27%) compared to $0.4 million (5%) in the fourth quarter of 2022. Adjusted EBITDA was $2.9 million this past quarter and $4.9 million for the full year, a $7.6 million improvement compared to 2022," stated Marie-Josée Cantin, CFO of CEMATRIX. "In Q4 we delivered on our belief that 2023 will be the best year in the history of the Company. We grew revenue organically by an incredible 85% from $29.0 million in 2022 to $53.3 million in 2023. With supply chains challenges in the rear-view mirror and increased revenues in 2023, we also improved our gross margins. Strong gross margins resulted in positive adjusted EBITDA and positive cashflow from operations, and we will build on this strong momentum into an exciting 2024," stated Randy Boomhour, COO of CEMATRIX. "I want to thank all our employees at CEMATRIX for their contributions to our success. Quarterly and annual results like these are only made possible through the hard work of every single employee. These results were generated by operations teams that spent many nights away from home, hard at work, and working safely to deliver a quality product to our customers. Our Company and our success are built upon the hard work and dedication of our employees. We appreciate all their contributions to our shared success," stated Mr. Kendrick. The following are the business and financial highlights for the fourth quarter and year to date: Business highlights for the quarter: Announced $6.5 million in new contracts (October 16, 2023) Announced $7.1 million in new contracts (October 25, 2023) Announced $5.2 million in new contracts (November 15, 2023) Announced the promotion of Randy Boomhour to COO (November 27, 2023) Business highlights subsequent to the quarter: Announced $6.2 million in new contracts (January 3, 2024) Announced Marie-Josée Cantin as the new CFO (February 5, 2024) Announced that CEMATRIX is recognized as a TSX Venture Top 50 company for a third time in four years (February 21, 2024) Announced $6.7 million in new contracts (March 6, 2024) Summary financial results:   Three months endedDecember,   Twelve months endedDecember, ($ millions) 2023 2022   Change %   2023 2022   Change % Revenue 19.6