HIGHLIGHTS FOR Q2 ENDED MAY 31, 2024 Sales of $481.4M, up 2%, including $276.3M in Canada and US$150.5M in the United States, up 6% (US$). EBITDA of $53.8M - EBITDA margin of 11.2%. Net earnings attributable to shareholders of $23.4M, or $0.42 per diluted share. Cash flows from operating activities of $55.7M. Expansion: acquisition in the U.S. Buyback of 480,820 common shares for $18.6M. FIRST HALF-YEAR Sales of $888.3M, including $508.3M in Canada and US$280.4M in the United States. EBITDA of $94.2M - EBITDA margin of 10.6%. Net earnings attributable to shareholders of $38.7M, or $0.69 per diluted share. Cash flows from operating activities of $56.2M. Sound financial position as of May 31, 2024, with a working capital of $616.0M (current ratio of 3.3:1). Quarterly dividend of $0.15 per share payable on August 8, 2024, to shareholders of record as at July 25, 2024. MONTREAL, July 11, 2024 /CNW/ - (TSX:RCH) "Richelieu continued its growth in the second quarter with sales up by 2% compared to the corresponding quarter of 2023. This increase resulted from our recent acquisitions, our market penetration and value-added service strategies, which is appreciable in the current market conditions. Our sales grew by 4.5% in the manufacturers' market, with increases of 0.9% in Canada and 8.7% (US$) in the U.S., while in all our geographic markets, sales to retailers and renovation superstores decreased by 14.6%. Richelieu is well positioned to seize opportunities in the renovation market and to meet the expected increase in demand for specialized products in the context of the housing shortages in Canada and the United States. We will remain focused on our winning strategies and our strengths, namely innovation, market diversification, value-added service, the robustness of our network and our ability to make strategic acquisitions" said Mr. Richard Lord, President and CEO. DEVELOPMENT OF THE NORTH AMERICAN NETWORK: THREE NEW ACQUISITIONS IN THE FIRST HALF OF FISCAL 2024 AND CONSOLIDATION OF DISTRIBUTION ACTIVITIES FOR RETAILERS IN WESTERN CANADA, ONTARIO AND EASTERN CANADA On March 27, 2024, Richelieu closed the acquisition of the main net assets of Allegheny Plywood, a distributor specializing in panels and decorative surfaces, operating distribution centres in Pittsburgh and Allentown, Pennsylvania, as well as in Cleveland, Ohio. This acquisition is in addition to those concluded in the first quarter, namely Olympic Forest Products, a distributor of wood products and specialty panels based in Erin, Ontario, and Rapid Start, a distributor of specialty hardware serving manufacturers from its centre in Rittman, Ohio. Together, these transactions represent sales of approximately $60M, on an annual basis, and strengthen the Corporation's presence in these markets. Completed in December 2023, the Calgary expansion project allows the Corporation to continue supporting the growth of its manufacturer customers by consolidating two centres into a single 250,000-square-foot warehouse and centralizing the distribution of all products intended for retail customers in Western Canada. In the second quarter, the Corporation began optimizing distribution activities for the retailers market in Ontario and Eastern Canada. These projects are ongoing and have already involved the transfer of operations from two distribution centres. OPERATING RESULTS FOR THE SECOND QUARTER AND FIRST SIX MONTHS ENDED MAY 31, 2024 The following table provides an overview of Richelieu's sales in its two main markets for the quarters ended May 31,  2024 and 2023 : Quarters ended  May 31 2024 2023 ∆ % (in millions of dollars, except exchange rates) Total Internal Acquisitions Consolidated 481.4 472.1 2.0 (0.7) 2.7 Manufacturers 427.4 408.9 4.5 1.4 3.1 Retailers 54.0 63.2 (14.6) (14.6) — Canada