Record Levels of Revenue and Growth
In 2024, DCM achieved record levels of revenue, gross profit, and adjusted EBITDA. Revenue increased by 7.2% compared to 2023, reaching $480 million, which is double the revenue from 2021.
Successful Integration and Synergy Capture
The integration of Moore Canada Corp was completed ahead of schedule, reducing facilities from 14 to 10. The company met its $30 million to $35 million synergy target, which is expected to benefit future performance.
Strong Technology Services Growth
Revenue from technology services grew to $20 million in 2024, up from $5.3 million in 2022, and now constitutes 4.2% of total revenue. This includes SaaS and AI-enabled offerings.
Improved Gross Profit and Margin
Gross profit grew by 9.4% to $130 million, with gross margins improving as facility consolidations were completed. The company aims to achieve gross margins above 30%.
Strong Productivity and Employee Efficiency
Revenue per employee grew to $337,000 in 2024, reflecting significant productivity improvements and headcount reductions following the acquisition.
Healthy Balance Sheet
DCM improved its leverage ratio from 2.7 times to 1.8 times net debt to EBITDA, maintaining strong credit availability and initiating both a special and recurring dividend.