Alcanna Reports Fourth Quarter and Fiscal Year End Financial Results
EDMONTON, Alberta, March 29, 2022 (GLOBE NEWSWIRE) — Alcanna Inc. (the “Company” or “Alcanna”) (TSX: CLIQ) today reported its financial results for the three months and year ended December 31, 2021.
FINANCIAL RESULTS
- For the fourth quarter of 2021, Alcanna’s same-store liquor sales from continuing operations was $154.3 million, which was an increase of 5.2% from Q4 2019 and 1.9% lower than Q4 2020.
- The operating profit before depreciation, remeasurements and other costs for the Company’s Liquor and Corporate Segments for the three months ended December 31, 2021 was $11.5 million compared to $6.5 million for Q4 2019 and $12.1 million in Q4 2020.
The Company’s annual audited consolidated financial statements and management’s discussion and analysis (“MD&A”) for the year ended December 31, 2021 will be available in the “Investor Centre – Financial Reports” section of the Company’s website at www.alcanna.com and will be filed on SEDAR and available at www.sedar.com.
FINANCIAL RESULTS
| (In thousands of Canadian dollars except per share amounts, unaudited) | Three months ended December 31, | Year ended December 31, | ||||||
| 2021 $ | 2020 $ | 2021 $ | 2020 $ | |||||
| Sales | 210,449 | 181,588 | 726,272 | 680,291 | ||||
| Operating profit before depreciation, remeasurements and other costs | 11,489 | 12,762 | 32,930 | 47,196 | ||||
| Net (loss) earnings from continuing operations | (9,164 | ) | 9,587 | (28,060 | ) | 9,711 | ||
| Basic and diluted (loss) earnings per share from continuing operations | (0.20 | ) | 0.24 | (0.57 | ) | 0.25 | ||
| Diluted earnings (loss) per share from continuing operations | (0.20 | ) | 0.23 | (0.57 | ) | 0.24 | ||
Since the March 22, 2021 spin out of Alcanna’s retail cannabis business into a separate publicly traded company, Nova Cannabis Inc. (“Nova”), the Company indirectly participates in the retail cannabis business through its approximately 63% ownership of Nova. As a result of this majority investment, Alcanna must consolidate the financial results of both companies as per accounting practices. For discussion of Nova’s financial results, business updates and outlook, refer to Nova’s management’s discussion and analysis for the year ended December 31, 2021 at www.novacannabis.ca or at www.sedar.com.
ABOUT ALCANNA INC.
Alcanna is one of the largest private sector retailers of alcohol in North America and the largest in Canada by number of stores – operating 171 locations in Alberta and British Columbia. The Company’s majority-owned subsidiary, Nova Cannabis Inc. (TSX: NOVC), also operates 78 retail cannabis stores in Alberta, Ontario and Saskatchewan.
Alcanna’s common shares trade on the Toronto Stock Exchange under the symbol “CLIQ”.
Additional information about Alcanna Inc. is available at www.sedar.com and the Company’s website at www.alcanna.com.
For Further Information
James Burns
Vice Chair and Chief Executive Officer
Alcanna Inc.
(587) 460-1026
