GardaWorld Announces Preliminary Results for the Fiscal Year Ended January 31, 2021

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Mar 10, 2021, 10:00 ET

All amounts in this press release are in Canadian dollars.

MONTRÉAL, March 10, 2021 /PRNewswire/ - Garda World Security Corporation ("GardaWorld" or the "Company"), the world's largest privately owned security and cash services provider, today announces preliminary unaudited financial results for the fourth quarter and fiscal year ended January 31, 2021.

Based on preliminary financial information, GardaWorld anticipates:

Revenues between $950.0 million and $975.0 million for the fourth quarter ended January 31, 2021, compared to $912.3 million for the same period in the previous year. Revenues between $3,725 million and $3,750 million for the fiscal year ended January 31, 2021, compared to $3,524.8 million for the previous year;
Adjusted EBITDA between $147.0 million and $152.0 million for the fourth quarter ended January 31, 2021, compared to $134.7 million for the same period in the previous year. Adjusted EBITDA between $557.0 million and $562.0 for the fiscal year ended January 31, 2021, compared to $491.3 million for the previous year.

The preliminary unaudited financial results in this press release are based on information available to the Company as of the date of this release and are subject to revision upon finalising the closing procedures and audit of the Company's annual consolidated financial statements for the fiscal year ended January 31, 2021. The preliminary unaudited financial results in this press release have been prepared by GardaWorld and its management on a reasonable basis, reflecting their best estimates and judgments. GardaWorld intends to release its audited financial results for the fourth quarter and fiscal year ended January 31, 2021, on Wednesday
April 21, 2021.

About GardaWorld

GardaWorld is the largest privately owned security services and cash services company in the world, offering physical security services, end-to-end cash management solutions and integrated risk management services, with Crisis24. A partner of choice for private companies, governments, humanitarian organizations and multinationals, GardaWorld employs more than 102,000 highly skilled, dedicated professionals who serve a diverse clientele in North America, Africa, Europe, Asia and the Middle East. For more information, please visit www.garda.com.

Forward Looking Statements and Non-IFRS Financial Measures

EBITDA and Adjusted EBITDA are not measures calculated in accordance with IFRS, EBITDA and Adjusted EBITDA are measures commonly used by financial analysts in evaluating a company's performance and ability to service and incur indebtedness.

Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the applicable securities laws. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GardaWorld's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GardaWorld's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including the Covid-19 pandemic, growth management, market competition, cost of financing, key personnel, government regulations, standard customer service contracts, insurance, strikes and other labor protest, information technology system, operations outside Canada and the United States, currency fluctuations, credit risk, reputational risk and financial covenants risk, many of which are beyond the GardaWorld's control. While GardaWorld has been resilient through the COVID-19 pandemic, any one or more of these known or unknown factors may be exacerbated by the growing COVID-19 outbreak and may have a significantly more severe impact on the GardaWorld's business, results of operations and financial condition than in the absence of such outbreak. While management considers these assumptions to be reasonable based on information currently available to GardaWorld, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what GardaWorld currently expects. Some of the factors contributing to those uncertainties are fluctuations in quarterly and annual results and the ability of the Company to reduce its debt leverage in the current credit environment. The foregoing list of important factors is not exhaustive. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. GardaWorld will not update these statements unless applicable securities laws require GardaWorld to do so. For more details on the factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the Risks and Uncertainties section in the MD&A of the Company's financial report for the period ended October 31, 2020.

SOURCE GardaWorld Security Corporation