Vertex Resource Group Ltd. Reports Second Quarter 2025 Results
SHERWOOD PARK, AB, Aug. 14, 2025 /CNW/ - (TSXV:VTX) - Vertex Resource Group Ltd. ("Vertex" or the "Company") reports its financial and operational results for the second quarter ended June 30, 2025. The following should be read in conjunction with the Management Discussion and Analysis ("MD&A") and the unaudited condensed consolidated interim financial statements of Vertex for the period ended June 30, 2025, which are available on SEDAR+ at www.sedarplus.ca.
Vertex operates within a dynamic North American landscape, marked by trade fluctuations and tariff uncertainties that have created challenges for several of the industries we operate in. Throughout the quarter, extensive forest fires and evacuations affected the execution of maintenance projects. Nevertheless, Vertex has demonstrated strategic resilience, as Environmental Consulting exceeded expectations and helped offset the impact on sectors within Environmental Services that are more susceptible to global volatility.
Key financial results for the three and six months June 30, 2025, and 2024 are as follows:
HIGHLIGHTS
Three Months ended
Six Months ended
June 30,
June 30,
(in thousands of Canadian Dollars)
2025
2024
2025
2024
Gross revenue
54,160
57,159
110,662
116,990
Less flow through subcontractor costs
3,930
460
9,310
1,782
Net revenue
50,230
56,699
101,352
115,208
Profit margin
12,225
16,521
22,942
29,867
Profit margin %
24 %
29 %
23 %
26 %
Adjusted EBITDA (1)
6,371
10,047
11,592
16,947
Adjusted EBITDA %
13 %
18 %
11 %
15 %
Free cash flow (1)
1,258
1,742
2,787
2,179
Adjusted EBITDA per share, basic and diluted (1)
0.06
0.09
0.10
0.15
Earnings per share, basic and diluted
(0.03)
0.00
(0.05)
(0.01)
(1) See "Non-IFRS Financial Measures"
HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2025
Environmental Consulting net revenue increased by 13% compared to 2024.
Environmental Consulting adjusted EBITDA(1) increased by 57% compared to 2024.
G&A expenses were reduced by 10% compared to Q2 2024.
Finance costs were reduced by 28% year-over-year due to reduced debt levels.
Reduced loans and borrowings and lease liabilities by $2.9 million during the quarter.
HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2025
Environmental Consulting net revenue increased by 5% compared to H1 2024.
Environmental Consulting adjusted EBITDA(1) increased by 37% compared to 2024.
G&A expenses were reduced by 12% compared to H1 2024.
Finance costs were reduced by 23% year-over-year due to reduced debt levels.
Reduced loans and borrowings and lease liabilities by $5.9 million during H1 2025.
OUTLOOK
The first half of 2025 has presented macroeconomic challenges that continue to pressure commodity prices, capital investment, and broader market sentiment. These factors have contributed to increased customer uncertainty, resulting in deferred investment decisions, subdued activity levels across key regions, and a shift in focus toward cash flow preservation and operational efficiency. While these factors have impacted Vertex, we remain resilient with a focused view of the evolving landscape.
We remain committed to core objectives and have proactively adjusted our execution strategy to navigate current conditions. Cost management remains a top priority, and we are actively pursuing strategic adjustments to enhance our efficiency and strengthen our corporate framework. By reducing capital expenditures for the remainder of 2025, we are preserving liquidity and maintaining the flexibility needed to respond to emerging opportunities while continuing to reduce debt levels.
When market conditions stabilize, Vertex is well-positioned to capitalize on new opportunities and deliver long-term value. Our cautious optimism reflects both the realities of the current environment and our confidence in the company's ability to thrive through disciplined execution and strategic agility.
ABOUT VERTEX
Since 1962, Vertex has been a leading North ...
