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News Article | May 4, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - May 4, 2017) - Altus Group Limited ("Altus Group" or "the Company") (TSX:AIF), a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, announced today its financial and operating results for the first quarter ended March 31, 2017. "Continued growth at Altus Analytics, improved performance at Geomatics, and strong performance from our Valuation and Cost Advisory business contributed to the robust results achieved in the first quarter," said Robert Courteau, Chief Executive Officer at Altus Group. "Underpinning the strong customer demand for our analytics solutions and expert services, our diversified business model continues to deliver consistent improvement in our consolidated financial performance." Summary of Operating and Financial Performance by Business Segment: All amounts are in Canadian dollars and percentages are in comparison to the first quarter of 2016. On a consolidated basis, first quarter revenues grew 2.4% year-over-year to $109.2 million while adjusted EBITDA increased by 7.2% to $13.3 million. Exchange rate movements against the Canadian dollar, namely the U.S. and U.K. currencies, impacted consolidated revenues by (2.7%) and adjusted EBITDA by (0.9%). Acquisitions contributed 1.0% to revenues. Consolidated profit, in accordance with IFRS, was $0.5 million or $0.01 per share basic and diluted, compared to ($2.2) million and ($0.06) per share basic and diluted during the same period in 2016. Adjusted EPS was $0.22 in the first quarter, up 15.8% compared to $0.19 in the first quarter of 2016. Altus Analytics continued to deliver robust growth despite encountering some currency headwinds, with revenues increasing 6.8% to $39.2 million. Excluding the impact from currency, revenues grew by 10.9%. Recurring revenues increased by 5.5% to $29.2 million driven by increased ARGUS Enterprise and ARGUS On Demand subscriptions, increased software maintenance, and growth in appraisal management. Non-recurring revenues grew by 11.0% to $10.0 million, driven primarily by increased services revenues. Excluding the impact from currency, recurring revenue growth was 9.6% and non-recurring revenue growth was 15.1%. Adjusted EBITDA increased by 43.8% to $12.7 million, reflecting the higher revenues, the benefits of the restructuring activities undertaken in 2016, and a one-time benefit of an approximate $0.4 million media tax credit received for the Canadian market data solutions. Changes in the exchange rate against the Canadian dollar impacted revenues by (4.1%) and adjusted EBITDA by (0.7%). CRE Consulting revenues were down modestly by 1.2% to $57.7 million and adjusted EBITDA was down 31.8% to $7.1 million. Following an exceptionally strong first quarter last year, Property Tax revenues declined 7.1% to $33.2 million. Several factors impacted performance, including the typical cyclical variability associated with the commencement of two new assessment cycles, in Ontario and the U.K. During the early stages of new cycles, resources are mainly focused on reviewing assessed property values and filing appeals. Settlements of the appeals with the taxing authorities occur in subsequent periods. Additionally, the Company had lower contingency revenues in the U.S. compared to the first quarter in 2016, and the 2017 revenues from the U.K. operations were adversely impacted by the decline in value of the pound sterling. Excluding the impact from the currency, Property Tax revenues were down moderately by 3.2%. Valuation and Cost Advisory revenues increased by 8.1% to $24.5 million driven by double-digit growth at Cost. Adjusted EBITDA decreased 31.8% to $7.1 million, primarily due to lower revenues at Property Tax and increased operating costs related to appeal fees in Ontario that were paid on behalf of clients, but which are expected to be recovered in future quarters. Changes in the exchange rate against the Canadian dollar affected CRE Consulting revenues by (2.3%) and adjusted EBITDA by (0.5%). Geomatics' performance continued to be impacted by challenging market conditions in the oil and gas sector, although early indicators of increasing activity levels, combined with the cost cutting initiatives undertaken in 2016, yielded improved performance. Revenues improved by 6.5% to $12.6 million, and adjusted EBITDA improved by 293.5% to $1.2 million, resulting in healthier adjusted EBITDA margins of 9.9%. Corporate costs were $7.7 million, compared to $6.2 million in the same period in 2016. The increase in corporate costs was mainly due to higher variable compensation and certain growth investments in people and systems to modernize corporate functions. At the end of the first quarter, Altus Group's balance sheet remained strong, giving the Company the financial flexibility to pursue its growth strategy. The Company's bank debt was $138.7 million, representing a funded debt to EBITDA leverage ratio of 1.76 times, compared to 1.53 times at December 31, 2016. Also, the Company's cash and cash equivalents stood at $38.9 million at the end of the first quarter. Replay: A replay of the call will be available via the webcast at altusgroup.com Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF. For more information on Altus Group, please visit: www.altusgroup.com. Altus Group uses certain non-IFRS measures as indicators of financial performance. Readers are cautioned that they are not defined performance measures under IFRS and may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to financial measures as reported by those entities. We believe that these measures are useful supplemental measures that may assist investors in assessing an investment in our shares and provide more insight into our performance. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, ("Adjusted EBITDA"), represents operating profit (loss) adjusted for the effects of amortization of intangibles, depreciation of property, plant and equipment, acquisition related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale or deemed disposition of certain assets, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related restricted share units ("RSUs") and deferred share units ("DSUs") being hedged and other costs or income of a non-operating and/or non-recurring nature. Adjusted EBITDA margin is Adjusted EBITDA divided by revenues. Adjusted Earnings (Loss) per Share, ("Adjusted EPS"), represents basic earnings per share adjusted for the effects of amortization of intangibles acquired as part of business acquisitions, non-cash finance costs (income) related to the revaluation of amounts payable to U.K. unitholders, net of changes in fair value of related equity derivatives, distributions related to amounts payable to U.K. unitholders, acquisition related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale or deemed disposition of certain assets, interest accretion on contingent consideration payables, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs being hedged and other costs or income of a non-operating and/or non-recurring nature. All of the adjustments are made net of tax. Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the discussion of our business and operating initiatives, focuses and strategies, our expectations of future performance for our various business units and our consolidated financial results, and our expectations with respect to cash flows and liquidity. Generally, forward-looking information can be identified by use of words such as "may", "will", "expect", "believe", "plan", "would", "could" and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which we operate; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of acquired businesses; and the continued availability of qualified professionals. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: general state of the economy; currency risk; oil and gas sector; ability to maintain profitability and manage growth; commercial real estate market; competition in the industry; ability to attract and retain professionals; information from multiple sources; reliance on larger enterprise transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; ability to implement technology strategy and ensure workforce adoption; information technology governance and security, including cyber security; acquisitions; fixed-price and contingency engagements; appraisal and appraisal management mandates; Canadian multi-residential market; weather; legislative and regulatory changes; customer concentration and loss of material clients; interest rate risk; credit risk; income tax matters; revenue and cash flow volatility; health and safety hazards; performance of contractual obligations and client satisfaction; risk of legal proceedings; insurance limits; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of common share price; capital investment; and issuance of additional common shares diluting existing shareholders' interests, as well as those described in Altus Group's publicly filed documents, including the MD&A for the year ended December 31, 2016 (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management's current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.


BIRMINGHAM, United Kingdom, May 17, 2017 (GLOBE NEWSWIRE) -- Juniper Systems Limited, manufacturer of ultra-rugged field data collection solutions, recently announced the release of its latest product, the Mesa 2™ Rugged Tablet running on the Android® operating system. This handheld computer provides a superior solution for those seeking the versatility of Android with the Mesa 2’s renowned durability and precision. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c22c08da-ce1a-4bcf-be49-48ea3eda88c4 On 23-24 May, the Mesa 2 can be seen live on Stand C9 at the GeoBusiness show in London. Visitors can see, touch and feel the Mesa 2, along with the full spectrum of Juniper Systems’ rugged products. Providing high performance for Geomatics and Geospatial applications are: the Geode™ Sub-Meter GPS Receiver, the Archer 2™ rugged handheld computer, and the CT7G Rugged Tablet and CT5 Rugged Smartphone from Juniper’s Cedar line. ‘We developed the Mesa 2 with Android to provide an alternate operating system option for customers seeking the reliability of the Mesa 2, with the added versatility and familiarity of Android’, said Simon Bowe, General Manager of Juniper Systems Limited. ‘We’re excited to show this product at GeoBusiness and discuss its abundant uses with show attendees’. Both the Mesa 2 with Android and the Mesa 2 with Microsoft® Windows 10 are built with the same IP68 waterproof and dustproof rating, long-lasting battery life, and 7-inch display. The product’s design strikes the perfect balance between an ample viewing area and reduced overall weight for minimal fatigue, and superior all-day comfort. The Mesa 2 also offers optional features and accessories, including a Class I Division 2 classification that ensures safety in explosive environments, a 1D/2D barcode scanner, a pistol grip barcode scanner, and RFID readers, among others. These options are provided to ensure customisation, increased productivity, and efficiency. About Juniper Systems Limited Based out of Logan, UT, USA, and Birmingham, UK, Juniper Systems designs and manufactures ultra-rugged handheld computers and provides field data collection solutions for use in extreme environments. Since 1993, Juniper Systems has provided innovative mobile technology to the geomatics, industrial, natural resources, utilities and public services, and military markets. The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.


BIRMINGHAM, United Kingdom, May 17, 2017 (GLOBE NEWSWIRE) -- Juniper Systems Limited, manufacturer of ultra-rugged field data collection solutions, recently announced the release of its latest product, the Mesa 2™ Rugged Tablet running on the Android® operating system. This handheld computer provides a superior solution for those seeking the versatility of Android with the Mesa 2’s renowned durability and precision. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c22c08da-ce1a-4bcf-be49-48ea3eda88c4 On 23-24 May, the Mesa 2 can be seen live on Stand C9 at the GeoBusiness show in London. Visitors can see, touch and feel the Mesa 2, along with the full spectrum of Juniper Systems’ rugged products. Providing high performance for Geomatics and Geospatial applications are: the Geode™ Sub-Meter GPS Receiver, the Archer 2™ rugged handheld computer, and the CT7G Rugged Tablet and CT5 Rugged Smartphone from Juniper’s Cedar line. ‘We developed the Mesa 2 with Android to provide an alternate operating system option for customers seeking the reliability of the Mesa 2, with the added versatility and familiarity of Android’, said Simon Bowe, General Manager of Juniper Systems Limited. ‘We’re excited to show this product at GeoBusiness and discuss its abundant uses with show attendees’. Both the Mesa 2 with Android and the Mesa 2 with Microsoft® Windows 10 are built with the same IP68 waterproof and dustproof rating, long-lasting battery life, and 7-inch display. The product’s design strikes the perfect balance between an ample viewing area and reduced overall weight for minimal fatigue, and superior all-day comfort. The Mesa 2 also offers optional features and accessories, including a Class I Division 2 classification that ensures safety in explosive environments, a 1D/2D barcode scanner, a pistol grip barcode scanner, and RFID readers, among others. These options are provided to ensure customisation, increased productivity, and efficiency. About Juniper Systems Limited Based out of Logan, UT, USA, and Birmingham, UK, Juniper Systems designs and manufactures ultra-rugged handheld computers and provides field data collection solutions for use in extreme environments. Since 1993, Juniper Systems has provided innovative mobile technology to the geomatics, industrial, natural resources, utilities and public services, and military markets. The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.


"I am excited to join a talented team of professionals to contribute to their ongoing efforts to pioneer optimal unmanned mapping systems for surveying and mapping industries," said Mostafa. Dr. Mostafa has a Ph.D. in Geomatics Engineering from the University of Calgary and more than 18 years of experience in system design, development, integration, calibration, and quality control. He has managed and delivered projects in the United States, Canada, Europe, Africa, and the Middle East and has contributed to more than 160 technical publications, including the Manual of Photogrammetry 5th edition and the DEM User Manual. He served as Vice President of Commission 1 (sensors and platforms) for the International Society for Photogrammetry and Remote Sensing (ISPRS) and as the Chair of the Direct Georeferencing Committee of the American Society for Photogrammetry and Remote Sensing (ASPRS). Currently he serves as the Chair of the ASPRS Precision Mapping by UAS Committee. He won 11 international awards over the last 26 years. "We're thrilled to have Dr. Mostafa join us," said Microdrones President, Vivien Heriard Dubreuil. "He brings an impressive set of credentials and a wealth of expertise and experience. Our mdSolutions team is comprised of talented and innovative engineers and we're excited to see what they will achieve under Dr. Mostafa's leadership." It has been a year of many successes for the Microdrones team. Last year, at XPONENTIAL 2016, Microdrones announced it had merged with Avyon and expanded into North America. Since then, the company has made significant changes – and impressive progress. Over the course of the year, Microdrones has expanded its team and is still growing. The company is currently hiring more than a dozen positions and now employs more than 80 employees around the world. In November, Microdrones partnered with Trimble, the world's leading distributor of geospatial equipment, becoming their preferred provider of quadcopter UAS. Since this agreement, leading Trimble dealers like GEOCOM, ALLTerra Deutschland, NEI, Geonovous, SITECH South, Frontier Precision, GeoLine, and Martin Instrument have been quick to join the Microdrones sales force. "Trimble dealers are signing on quickly," said Mike Hogan, Microdrones Director of Sales, Americas. "Their customers are asking for accurate, efficient, easy-to-use UAV mapping solutions and the dealers are excited about the value our systems offer for those customers. Even more exciting – these dealers are already selling our systems." In November Microdrones also announced a partnership with Delair-Tech, which formed the world's largest research and development force focused on industrial UAS. Together the companies plan to produce a full line-up of complete rotary and fixed wing UAV solutions for commercial applications. But perhaps their greatest achievement of the year is the release of their mdMapper packages, complete solutions that include aircraft, sensors, and software – everything companies need for aerial mapping. These packages were designed for simple training and easy use to allow users to get started quickly using drones for surveying, mapping, construction, inspection, mining, precision agriculture, and other industrial applications. Users can also increase the functionality of their systems by purchasing accessory kits. Some of the available options include inspection, multispectral, thermal, and soon LiDAR and methane gas detection kits. "It has been a year of many positive changes, the biggest one being that we are no longer only an aircraft company," explained Heriard Dubreuil. "We don't just sell drones, we sell complete solutions developed for specific applications that integrate everything the industrial user needs. Moving forward, all that we do will be geared toward designing exceptional solutions and helping our customers use them successfully." Founded in Germany in 2005, Microdrones developed the world's first commercial quadcopter and the company still leads the industry with their professional UAV solutions. By pairing robust drones with cutting-edge sensors, Microdrones offers advanced turn-key solutions that make it easy for businesses to start using UAVs for surveying, mapping, construction, inspection, precision agriculture, mining, and other commercial applications. A heritage of quality German engineering, extra-long flight times, resistance to environmental challenges, and technology like direct georeferencing make Microdrones solutions exceptionally safe, efficient, and cost-effective choices for commercial users. Recently expanded into North America, Microdrones serves markets around the globe. To learn more about Microdrones, visit www.microdrones.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/from-the-floor-of-xponential-microdrones-welcomes-dr-mohamed-mostafa-to-team-celebrates-a-year-of-success-300454517.html


“The first African Real Estate & Infrastructure Summit in Cape Town provided an innovative space for leading built environment professionals to engage with experts, projects, investors and practitioners from all over the continent. We are confident that the summit will grow to become the leading meeting point of the real estate and infrastructure industries in Africa." This is according to Tim Harris, CEO of Wesgro, who was a speaker and session facilitator at the summit. Cape Town, South Africa, November 25, 2016 --( More than 300 sector experts gathered for the inaugural two-day summit earlier this month with interactive sessions that focused on key case studies of visionary city planning, investment opportunities in the commercial and residential real estate sectors across the continent, the African city of the future and the challenges of urbanisation. Innovative development projects from Cape Town, Johannesburg, Addis Ababa, Kigali, Lusaka, Kampala and the Taparura project in Tunisia were showcased. A key finding of the conference was that Africa’s cities are facing an urban ‘polycrisis’ and that there is a need for a new urban agenda and an opportunity for innovative solutions to address urbanisation challenges. Expert speaker highlights at the African Real Estate & Infrastructure Summit included: “Africa is on the brink of great change. It is the fastest urbanising region in the world, with around 400 million people expected to migrate from rural areas to cities by 2050. As more and more people move to our cities in search of a better life, it is critical that we provide effective and sustainable infrastructure to meet their needs.” - Alderman Ian Neilson, City of Cape Town’s Executive Deputy Mayor “New forms of urban planning in African cities seem to be dedicated to transforming them into replicas of Dubai, Shanghai and Singapore. The main challenge of the real estate sector on the continent currently is to find approaches to real estate development which are not only for the wealthy, and which find architectural and planning approaches which are not simplistic ‘cut and pastes’ of cities elsewhere in the world.” - Prof Vanessa Watson, of the School of Architecture, Planning and Geomatics, University of Cape Town “The Voortrekker Road Corridor offers a unique opportunity to invest in the urban core of Cape Town in one of its most important transit-oriented development corridors, taking advantage of the central location and extensive public transport infrastructure.” – Councillor Johan van der Merwe, the City of Cape Town’s Mayoral Committee Member for Energy, Environmental and Spatial Planning. “Arup recently completed a transit orientated development masterplan for the light rail transit system in Addis Ababa, Ethiopia. The project focused on realising the economic potential of the key stations along the light rail system; while regenerating the city, thereby making use of hard infrastructure systems to unlock multiple gains that improve the social and economic prosperity of citizens.” - Nico Venter, Associate Director at Arup’s Johannesburg Office, responsible for the Urban Design and Cities Business in South Africa. “We passionately believe that Africa is a continent of opportunity. With improving economies, rising populations, rapid rates of urbanisation and burgeoning middle classes, some African cities are expected to grow between 70-100% in the next 15 years.” - Mr Jean-Pierre Elong Mbassi, Secretary General of the United Cities and Local Governments of Africa (UCLGA) – patron of the African Real Estate & Infrastructure Summit. More key findings that emerged during the African Real Estate & Infrastructure Summit included: - African countries need to adopt new development models designed to take advantage of urbanisation by facilitating structural transformation, creating jobs and addressing social inequality and poverty, while creating sustainable human settlements with equal opportunity for all. - The future of Africa is at stake and the future of Africa will be more and more linked to how cities are managed and the way they choose to contribute to African unity. - Careful, complex, thorough administrative management and pro-poor urban development will turn African cities into world-class cities, not design plans based on fantasy Dubai-esque city makeovers. Major infrastructure and building projects and opportunities on the continent featured at the African Real Estate & Infrastructure Summit included: - Cape Town’s Voortrekker Corridor Road Integration Zone Strategy and Investment Plan - Joburg’s Corridors of Freedom for a people-centred city - Kimisange, Kicukiro 237 and Kicukiro 968 in Kigali, Rwanda - Transit Oriented Development in Addis Ababa, Ethiopia - The PDGML – General Master Plan for Luanda, Angola - Comprehensive Urban Development Plan (CUDP) for the City of Lusaka, Zambia - Kampala Physical Development Plan, Uganda - PARURA SFAX – The Master Plan for Taparura Project, Tunisia Cape Town, South Africa, November 25, 2016 --( PR.com )-- “The first African Real Estate & Infrastructure Summit in Cape Town provided an innovative space for leading built environment professionals to engage with experts, projects, investors and practitioners from all over the continent. We are confident that the summit will grow to become the leading meeting point of the real estate and infrastructure industries in Africa." This is according to Tim Harris, CEO of Wesgro, who was a speaker and session facilitator at the summit.More than 300 sector experts gathered for the inaugural two-day summit earlier this month with interactive sessions that focused on key case studies of visionary city planning, investment opportunities in the commercial and residential real estate sectors across the continent, the African city of the future and the challenges of urbanisation. Innovative development projects from Cape Town, Johannesburg, Addis Ababa, Kigali, Lusaka, Kampala and the Taparura project in Tunisia were showcased.A key finding of the conference was that Africa’s cities are facing an urban ‘polycrisis’ and that there is a need for a new urban agenda and an opportunity for innovative solutions to address urbanisation challenges.Expert speaker highlights at the African Real Estate & Infrastructure Summit included:“Africa is on the brink of great change. It is the fastest urbanising region in the world, with around 400 million people expected to migrate from rural areas to cities by 2050. As more and more people move to our cities in search of a better life, it is critical that we provide effective and sustainable infrastructure to meet their needs.”- Alderman Ian Neilson, City of Cape Town’s Executive Deputy Mayor“New forms of urban planning in African cities seem to be dedicated to transforming them into replicas of Dubai, Shanghai and Singapore. The main challenge of the real estate sector on the continent currently is to find approaches to real estate development which are not only for the wealthy, and which find architectural and planning approaches which are not simplistic ‘cut and pastes’ of cities elsewhere in the world.”- Prof Vanessa Watson, of the School of Architecture, Planning and Geomatics, University of Cape Town“The Voortrekker Road Corridor offers a unique opportunity to invest in the urban core of Cape Town in one of its most important transit-oriented development corridors, taking advantage of the central location and extensive public transport infrastructure.”– Councillor Johan van der Merwe, the City of Cape Town’s Mayoral Committee Member for Energy, Environmental and Spatial Planning.“Arup recently completed a transit orientated development masterplan for the light rail transit system in Addis Ababa, Ethiopia. The project focused on realising the economic potential of the key stations along the light rail system; while regenerating the city, thereby making use of hard infrastructure systems to unlock multiple gains that improve the social and economic prosperity of citizens.”- Nico Venter, Associate Director at Arup’s Johannesburg Office, responsible for the Urban Design and Cities Business in South Africa.“We passionately believe that Africa is a continent of opportunity. With improving economies, rising populations, rapid rates of urbanisation and burgeoning middle classes, some African cities are expected to grow between 70-100% in the next 15 years.”- Mr Jean-Pierre Elong Mbassi, Secretary General of the United Cities and Local Governments of Africa (UCLGA) – patron of the African Real Estate & Infrastructure Summit.More key findings that emerged during the African Real Estate & Infrastructure Summit included:- African countries need to adopt new development models designed to takeadvantage of urbanisation by facilitating structural transformation, creating jobs and addressing social inequality and poverty, while creating sustainable human settlements with equal opportunity for all.- The future of Africa is at stake and the future of Africa will be more and more linked to how cities are managed and the way they choose to contribute to African unity.- Careful, complex, thorough administrative management and pro-poor urban development will turn African cities into world-class cities, not design plans based on fantasy Dubai-esque city makeovers.Major infrastructure and building projects and opportunities on the continent featured at the African Real Estate & Infrastructure Summit included:- Cape Town’s Voortrekker Corridor Road Integration Zone Strategy and Investment Plan- Joburg’s Corridors of Freedom for a people-centred city- Kimisange, Kicukiro 237 and Kicukiro 968 in Kigali, Rwanda- Transit Oriented Development in Addis Ababa, Ethiopia- The PDGML – General Master Plan for Luanda, Angola- Comprehensive Urban Development Plan (CUDP) for the City of Lusaka, Zambia- Kampala Physical Development Plan, Uganda- PARURA SFAX – The Master Plan for Taparura Project, Tunisia Click here to view the list of recent Press Releases from African Real Estate & Infrastructure Summit


News Article | February 17, 2017
Site: www.eurekalert.org

Boulder, Colo., USA - In bitter cold regions like northwestern Canada, permafrost has preserved relict ground-ice and vast glacial sedimentary stores in a quasi-stable state. These landscapes therefore retain a high potential for climate-driven transformation. In their open-access GEOLOGY article published online on 7 Feb. 2017, Steven Kokelj of the Northwest Territories Geological Survey and colleagues write that climate-driven renewal of deglaciation and potential postglacial permafrost landscape evolution has major implications for predicting the nature and trajectories of northern landscape change and the cascade of downstream impacts. They show that mapping across 1.27 million square kilometers of northwestern Canada points to large thaw-induced slope disturbances (thaw slumps) that delineate the margins of former ice sheets. Recent intensification of this thaw slumping has mobilized primary glacial sediments, triggering a cascade of fluvial, lacustrine, and coastal effects. Authors: Steven V. Kokelj, Northwest Territories Geological Survey, Government of Northwest Territories (GNWT), Box 1320, Yellowknife, Northwest Territories X1A 2L9, Canada; Trevor C. Lantz, School of Environmental Studies, University of Victoria, Box 1700, Victoria, British Columbia V8W 2Y2, Canada; Jon Tunnicliffe, School of Environment, University of Auckland, Bag 92019, Auckland 1142, New Zealand; Rebecca Segal, School of Environmental Studies, University of Victoria, Box 1700, Victoria, British Columbia V8W 2Y2, Canada; and Denis Lacelle, Department of Geography, Environment and Geomatics, University of Ottawa, 60 University, Ottawa, Ontario K1N 6N5, Canada GEOLOGY articles recently published ahead of print are online at http://geology. . All GEOLOGY articles are online http://geology. . Representatives of the media may obtain complimentary articles by contacting Kea Giles at the e-mail address above. Please discuss articles of interest with the authors before publishing stories on their work, and please make reference to GEOLOGY in articles published. Non-media requests for articles may be directed to GSA Sales and Service, gsaservice@geosociety.org.


News Article | November 3, 2016
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Altus Group Limited ("Altus Group" or "the Company") (TSX:AIF) a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, announced today its financial and operating results for the third quarter ended September 30, 2016. "The team executed on all fronts during the third quarter, allowing us to deliver solid consolidated financial performance with double-digit Adjusted EBITDA growth, continued strength in recurring revenues, and higher margins at our core business segments, Altus Analytics and CRE Consulting," said Robert Courteau, Chief Executive Officer at Altus Group. "We see additional opportunity for our technology-enabled services across all our business lines. The CRE market is becoming increasingly institutionalized and requires greater transparency, creating growing demand for our leading analytics offerings, software and consulting services. We remain well positioned to capitalize on the attractive global market opportunity ahead of us." All amounts are in Canadian dollars and percentages are in comparison to the third quarter and nine-month period of 2015. On a consolidated basis, third quarter revenues continued to steadily grow, increasing 8.5% year-over-year to $110.9 million while Adjusted EBITDA grew by 39.2% to $21.3 million. The strong performance resulted from continued growth at Altus Analytics and strong performance at Property Tax. Excluding Geomatics, organic revenue growth was 13.8%. Exchange rate movements against the Canadian dollar impacted consolidated revenues by (1.5%) and Adjusted EBITDA by (0.1%). Acquisitions contributed 1.7% to revenues, and 6.3% to Adjusted EBITDA. Consolidated loss, in accordance with IFRS, was $5.1 million or $0.14 per share basic and diluted, compared to $0.7 million and $0.02 per share basic and diluted during the same period in 2015. The loss increased as a result of a $12.5 million goodwill impairment charge recorded on Geomatics and an increase in income tax expense, partially offset by decreased intangibles amortization and lower finance costs. Adjusted EPS was $0.31 in the third quarter, up 40.9% compared to $0.22 in the third quarter of 2015. Altus Analytics continued to deliver strong performance, with revenues increasing 12.2% to $36.2 million. Altus Analytics recurring revenues experienced 14.6% growth to $27.4 million as a result of increased subscriptions for ARGUS Enterprise, Voyanta and data products, as well as higher revenues from appraisal management. Growth in non-recurring revenues was primarily a result of strong sales of ARGUS software perpetual licenses and services. Adjusted EBITDA increased by 28.4% to $10.6 million, reflecting the higher revenues and cost savings from restructuring activities undertaken during the year. Changes in the exchange rate against the Canadian dollar impacted revenues by (2.2%) and Adjusted EBITDA by 0.8%. The Commercial Real Estate ("CRE") Consulting business segment also experienced strong, double-digit revenue and Adjusted EBITDA growth during the quarter. Property Tax revenues increased 24.1% to $38.7 million while Valuation and Cost Advisory revenues were up 9.2% to $24.1 million. The increase in Property Tax revenues was driven by organic growth in Canada and a stronger seasonal peak in the U.S. compared to the prior year. The Valuation and Cost Advisory practices continue to benefit from diversifying their revenue sources in their key geographical markets. Adjusted EBITDA increased 96.4% to $18.1 million. Changes in the exchange rate against the Canadian dollar affected revenues by (1.6%) and Adjusted EBITDA by (0.8%). Geomatics' performance continued to be impacted by challenging market conditions in the oil and gas sector. Revenues declined 28.8% to $12.1 million, and Adjusted EBITDA declined 81.7% to $0.6 million. During and after the quarter, the Company further reduced staff positons to better align capacity to market conditions, resulting in $0.4 million of employee severance costs. A similar charge is expected in the fourth quarter of 2016. Also during the quarter, a non-cash impairment charge of $12.5 million was taken on goodwill. Corporate costs were $8.0 million for the quarter ended September 30, 2016, compared to $5.6 million in the same period in 2015. The increase in corporate costs was mainly due to higher variable compensation. At the end of the third quarter, Altus Group's balance sheet remained strong, giving the Company the financial flexibility to pursue its growth strategy. The Company's bank debt was $118.0 million, representing a funded debt to EBITDA leverage ratio of 1.60 times, compared to 1.78 times in the previous quarter. Replay: A replay of the call will be available via the webcast at altusgroup.com Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A. For more information on Altus Group, please visit: www.altusgroup.com. Altus Group uses certain non-IFRS measures as indicators of financial performance. Readers are cautioned that they are not defined performance measures under IFRS and may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to financial measures as reported by those entities. We believe that these measures are useful supplemental measures that may assist investors in assessing an investment in our shares and provide more insight into our performance. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, ("Adjusted EBITDA"), represents operating profit (loss) adjusted for the effects of amortization of intangibles, depreciation of property, plant and equipment, acquisition-related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale of certain business assets, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related restricted share units ("RSUs") and deferred share units ("DSUs") being hedged, impairment charge and other costs or income of a non-operating and/or non-recurring nature. Adjusted Earnings (Loss) per Share, ("Adjusted EPS"), represents basic earnings per share adjusted for the effects of amortization of intangibles acquired as part of business acquisitions, non-cash finance costs (income) related to the revaluation of amounts payable to UK unitholders, net of changes in fair value of related equity derivatives, distributions related to amounts payable to UK unitholders, acquisition-related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale of certain business assets, interest accretion on contingent consideration payables, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs being hedged, impairment charge, and other costs or income of a non-operating and/or non-recurring nature. All of the adjustments are made net of tax. Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the discussion of our business and operating initiatives, focuses and strategies, our expectations of future performance for our various business units and our consolidated financial results, and our expectations with respect to cash flows and liquidity. Generally, forward-looking information can be identified by use of words such as "may", "will", "expect", "believe", "plan", "would", "could" and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which we operate; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of acquired businesses; and the continued availability of qualified professionals. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: general state of the economy; currency risk; oil and gas sector; ability to maintain profitability and manage growth; commercial real estate market; competition in the industry; ability to attract and retain professionals; information from multiple sources; reliance on larger software transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; information technology governance and security; integration of acquisitions; fixed-price and contingency engagements; appraisal and appraisal management mandates; Canadian multi-residential market; weather; legislative and regulatory changes; customer concentration; interest rate risk; credit risk; income tax matters; revenue and cash flow volatility; operating risks; performance of obligations/maintenance of client satisfaction; risk of future legal proceedings; insurance limits; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of common share price; capital investment; and issuance of additional common shares diluting existing shareholders' interests, as well as those described in Altus Group's publicly filed documents, including the Annual Information Form for the year ended December 31, 2015 (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management's current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.


News Article | February 23, 2017
Site: www.marketwired.com

Altus Analytics and CRE Consulting Delivered Over 35% Adjusted EBITDA Growth in 2016 TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - Altus Group Limited (╩║Altus Group╩║ or "the Company") (TSX:AIF), a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry, announced today its financial and operating results for the fourth quarter and year ended December 31, 2016. "Our diversified business model continued to deliver steady topline growth in 2016 while our strong operational execution drove profitable growth and margin improvement," said Robert Courteau, Chief Executive Officer at Altus Group. "I'm very pleased with the robust performance across all of our businesses and proud of the team's outstanding execution during the year. As the CRE industry continues to embrace more technological innovation, we remain exceptionally well positioned to serve this market with our industry-standard analytics solutions and technology-enabled expert services." Summary of Operating and Financial Performance by Business Segment: All amounts are in Canadian dollars and percentages are in comparison to the fourth quarter and twelve-month period of 2015. On a consolidated basis, 2016 revenues continued to grow steadily, increasing 6.4% year-over-year to $442.9 million while Adjusted EBITDA grew by 16.9% to $74.1 million, notwithstanding the macroeconomic headwinds from Geomatics. Excluding Geomatics, revenue growth was 13.9%. Growth in 2016 was driven by the strong performance at Altus Analytics and at the Property Tax practice under CRE Consulting. Exchange rate movements against the Canadian dollar benefited consolidated revenues by 0.2% and Adjusted EBITDA by 1.1%. Acquisitions contributed 1.7% to revenues and 3.6% to Adjusted EBITDA. Indicative of the Company's global growth initiatives, 54% of Altus Group's revenues were derived from outside of Canada in 2016, compared to 47% in 2015. Consolidated profit, in accordance with IFRS, was $14.3 million, up 54.3% from $9.2 million in 2015. On a per share basis, it was $0.39 per share basic, and $0.38 per share diluted, compared to $0.28 and $0.27 respectively in 2015. In addition to the strong growth in Adjusted EBITDA, profit also benefitted from lower intangibles amortization, net finance costs (income) and a gain on the partial deemed disposition of the Company's investment in Real Matters Inc., partially offset by an impairment charge of $12.5 million recorded on the Geomatics business in the third quarter, and higher income tax expense. Adjusted EPS was $1.15, up 17.3% from $0.98 in 2015. Altus Analytics sustained its strong growth, increasing revenues by 20.2% to $151.5 million, with a 23.4% increase in recurring revenues to $111.9 million. The performance in 2016 was driven by higher ARGUS Enterprise ("AE") sales (both license and subscriptions), higher maintenance and subscription revenues, and increased appraisal management engagements (from current and new customers). Adjusted EBITDA increased by 35.3% to $41.0 million, reflecting the higher revenues and cost savings from restructuring activities undertaken during the year. Altus Analytics Adjusted EBITDA margins improved to 27.1% from 24.0% in 2015. Changes in the exchange rate against the Canadian dollar benefitted revenues by 1.1% and Adjusted EBITDA by 2.5%. The CRE Consulting business segment also experienced strong, double-digit growth in 2016. CRE Consulting revenues grew by 10.3% to $247.3 million and Adjusted EBITDA grew by 36.2% to $52.2 million. Property Tax was a key contributor to the annual growth, where revenues increased by 12.9% to $151.2 million while Valuation and Cost Advisory revenues were up by 6.5% to $96.1 million. The notable growth at Property Tax was driven by strong organic and acquisitive growth in the U.S., and healthy organic growth in Canada. The Valuation and Cost Advisory practices benefited from diversification strategies in their key geographical markets. Adjusted EBITDA increased 36.2% to $52.2 million, driven by a 43.9% growth at Property Tax which delivered $40.1 million in Adjusted EBITDA; Valuation and Cost Advisory Adjusted EBITDA increased 15.6% to $12.1 million. Overall, CRE Consulting Adjusted EBITDA margins improved to 21.1% from 17.1% in 2015. Changes in the exchange rate against the Canadian dollar impacted revenues by (0.2%) and Adjusted EBITDA by (0.1%). Geomatics' performance continued to be impacted by challenging market conditions in the oil and gas sector. Revenues declined 32.9% to $45.1 million, and Adjusted EBITDA declined 108.6% to $(0.9) million, after incurring $1.6 million in severance costs to adjust operating capacity to match market conditions. Corporate costs were $18.2 million in 2016, compared to $15.3 million in 2015. The increase in corporate costs was mainly due to added headcount in support of strategic initiatives in information technology and talent management and higher variable compensation. As a percentage of revenues, corporate costs remained steady at approximately 4%. At the end of the year, Altus Group's balance sheet remained strong, giving the Company financial flexibility to pursue its growth strategy. The Company's bank debt was $117.0 million, representing a funded debt to EBITDA leverage ratio of 1.53 times, compared to 1.92 times at the end of 2015. On a consolidated basis, fourth quarter revenues increased 3.9% to $115.3 million and Adjusted EBITDA increased by 13.6% to $22.1 million. Excluding Geomatics, revenue growth was 8.6%. Exchange rate movements against the Canadian dollar impacted consolidated revenues by (2.0%) and Adjusted EBITDA by 0.8%. Acquisitions contributed 0.5% to revenues and 0.6% to Adjusted EBITDA in the fourth quarter. Consolidated profit, in accordance with IFRS, was $8.9 million or $0.24 per share basic and $0.23 per share diluted, compared to $6.5 million and $0.18 per share basic and diluted during the same period in 2015. Adjusted EPS was $0.38 in the fourth quarter, up 22.6% compared to $0.31 in the fourth quarter of 2015. Altus Analytics continued to grow at double-digit rates, with revenues increasing 15.1% to $42.2 million, including an 11.2% increase to $29.1 million in recurring revenues. Recurring revenue growth was driven by increased subscriptions for AE and higher revenues from maintenance and appraisal management. Non-recurring revenue growth was led by strong license sales and implementation services. Adjusted EBITDA increased by 40.0% to $11.8 million, reflecting the higher revenues and cost savings from restructuring activities undertaken during the year. Changes in the exchange rate against the Canadian dollar impacted revenues by (2.6%) and Adjusted EBITDA by 0.8%. The CRE Consulting revenues increased 4.4% to $61.8 million, including a 3.4% increase to $36.5 million at Property Tax, and a 5.8% increase to $25.3 million at Valuation and Cost Advisory. Property Tax experienced stronger performance in the U.K., but lower revenues in Canada due to timing of case settlements and large one-time contingency settlements in 2015. Valuation and Cost Advisory revenues had steady performance in Canada, with an improvement in Asia in Cost Advisory. Adjusted EBITDA for CRE Consulting decreased by 10.6% to $6.5 million, largely driven by a 15.0% decline to $4.3 million at Property Tax; Valuation and Cost Advisory Adjusted EBITDA was down 0.8% to $2.2 million. The decline at Property Tax in the fourth quarter reflects the allocation of higher variable compensation in the quarter as a result of the much stronger annual performance. Changes in the exchange rate against the Canadian dollar impacted revenues by (2.1%) and Adjusted EBITDA by 1.3%. Geomatics' performance continued to be impacted by challenging market conditions in the oil and gas sector. Revenues declined 24.9% to $11.5 million, and Adjusted EBITDA declined 84.0% to $0.2 million. During the fourth quarter, the Company further reduced staff positons to better align capacity to market conditions, resulting in $0.5 million of employee severance costs. Corporate costs (recovery) were ($3.6) million in the fourth quarter, compared to ($2.6) million in the same period in 2015. The Company's bonuses, which are recorded in the Corporate segment for the first nine months of the year, are finalized and allocated to the business units in the fourth quarter and resulted in a recovery. Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A. For more information on Altus Group, please visit: www.altusgroup.com. Altus Group uses certain non-IFRS measures as indicators of financial performance. Readers are cautioned that they are not defined performance measures under IFRS and may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to financial measures as reported by those entities. We believe that these measures are useful supplemental measures that may assist investors in assessing an investment in our shares and provide more insight into our performance. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, ("Adjusted EBITDA"), represents operating profit (loss) adjusted for the effects of amortization of intangibles, depreciation of property, plant and equipment, acquisition related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale of certain business assets, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related restricted share units ("RSUs") and deferred share units ("DSUs") being hedged and other costs or income of a non-operating and/or non-recurring nature. Adjusted EBITDA margin is Adjusted EBITDA divided by revenues. Adjusted Earnings (Loss) per Share, ("Adjusted EPS"), represents basic earnings per share adjusted for the effects of amortization of intangibles acquired as part of business acquisitions, non-cash finance costs (income) related to the revaluation of amounts payable to U.K. unitholders, net of changes in fair value of related equity derivatives, distributions related to amounts payable to U.K. unitholders, acquisition related expenses (income), restructuring costs, share of profit (loss) of associates, unrealized foreign exchange gains (losses), gains (losses) on disposal of property, plant and equipment, gains (losses) on sale of certain business assets, interest accretion on contingent consideration payables, impairment charges, non-cash Executive Compensation Plan costs, gains (losses) on hedging transactions, gains (losses) on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs being hedged and other costs or income of a non-operating and/or non-recurring nature. All of the adjustments are made net of tax. Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the discussion of our business and operating initiatives, focuses and strategies, our expectations of future performance for our various business units and our consolidated financial results, and our expectations with respect to cash flows and liquidity. Generally, forward-looking information can be identified by use of words such as "may", "will", "expect", "believe", "plan", "would", "could" and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which we operate; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of acquired businesses; and the continued availability of qualified professionals. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: general state of the economy; currency risk; oil and gas sector; ability to maintain profitability and manage growth; commercial real estate market; competition in the industry; ability to attract and retain professionals; information from multiple sources; reliance on larger enterprise transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; ability to implement technology strategy and ensure workforce adoption; information technology governance and security, including cyber security; acquisitions; fixed-price and contingency engagements; appraisal and appraisal management mandates; Canadian multi-residential market; weather; legislative and regulatory changes; customer concentration and loss of material clients; interest rate risk; credit risk; income tax matters; revenue and cash flow volatility; health and safety hazards; performance of contractual obligations and client satisfaction; risk of legal proceedings; insurance limits; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of common share price; capital investment; and issuance of additional common shares diluting existing shareholders' interests, as well as those described in Altus Group's publicly filed documents, including the MD&A for the year ended December 31, 2016 (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management's current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.


Patented gas leak detection technology provides energy industry with enhanced visibility, safety and environmental protection TORONTO, ONTARIO--(Marketwired - Feb. 14, 2017) - Altus Group Limited ("Altus Group") (TSX:AIF), a leading provider of commercial real estate services, software and data solutions, and St. Francis Xavier University ("StFX") today announced that they have signed a technology collaboration agreement. The agreement provides Altus Group with exclusive worldwide commercialization usage rights of StFX's vehicle-based Emissions Attribution via Computational Techniques ("ExACT") gas leak detection technology. Altus Group's Geomatics division will offer StFX's ExACT technology as a service for energy providers and regulators. The patented ExACT technology allows for detecting and mapping the emission of ground-sourced greenhouse gases into the atmosphere. The ExACT sensor is mounted on a vehicle and collects near-ground geochemical readings that are uploaded to a cloud-based database and allows for real-time analysis. "Collaborating with StFX is another example of how we're continuously innovating to serve our clients," said Dave Gurnsey, President of Altus Geomatics, Altus Group. "We're pleased to have the exclusive rights to commercialize this leading-edge best-in-class technology. This new service will add value to our clients by providing greater visibility into emissions and will complement our geospatial data management solutions." The ExACT survey technology is capable of covering a large region at a very fine scale which provides operators with the detailed data and analytics they require to detect leaks before they become a regulatory issue. The ability to identify emissions in an efficient and cost effective manner allows producers to minimize the economic cost of lost commodities and maximize environmental protection. "Altus Group is perfectly positioned to make the most of this technology, given its expertise in big data and analytics, and its great people across the country. The industry is moving towards greener, cleaner, and lower risk operations, and Altus Group will play an important role in that transition," said Dr. Dave Risk, Associate Professor and Project Lead, St. Francis Xavier University. For more information on this service offering by Altus Group's Geomatics division, please contact Ryan Maloney, Branch Manager, by email at ryan.maloney@altusgroup.com or by telephone at 1-306-842-6060. For more information on ExACT technology, please contact Dr. Dave Risk by email at drisk@stfx.ca or by telephone at 1-902-867-4854. Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A. For more information on Altus Group, please visit: www.altusgroup.com. Consistently recognized as one of the best universities in Canada, StFX exceeds the needs of today's undergraduates through providing the very best academic experience -- outstanding teaching, exceptional hands-on research opportunities, global exchanges, all within Canada's most vibrant and inspiring residential campus. Discover the top ten reasons why you should study at StFX https://www.stfx.ca/why-stfx/reasons-to-attend


News Article | February 27, 2017
Site: www.businesswire.com

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Consulting, engineering and construction services firm Atwell, LLC is pleased to announce Lyndon Nance, RPLS, PS, has joined the firm as Team Leader, Oil & Gas. Based in San Antonio, Texas, his responsibilities include management of survey activities for Oil & Gas projects including site control, client relations and oversight of project teams for the national firm. Nance has extensive experience in land surveying, including land development, pipeline, commercial, and industrial projects. Formerly the owner and president of LP Nance Land Surveying, he brings years of experience in leading projects and teams, and overseeing quality control. He has held positions as project manager and project surveyor with John Chance Surveys, Inc., and Pape-Dawson Engineers. His experience includes surveying multiple projects for Talisman, Regency, Plains Pipeline, and TexStar. Nance has expertise in drone technology and holds an FAA Remote Pilot in Command License. Nance is a registered professional land surveyor in Texas, North Dakota and Colorado. He earned a Bachelor of Science in Geomatics from Texas A&M University. “We’re happy to have Lyndon join our team. His expertise in drone technology is in line with our commitment to continuous improvement. He will help drive efficiencies that will translate to added value for our clients,” said Atwell Vice President, Survey Operations, Drew Celovsky. Atwell, LLC is a national consulting, engineering and construction services firm with over five hundred professionals across the country that deliver a broad range of strategic and creative solutions to clients in a variety of industries including real estate and land development, power and energy, oil and gas, automotive, industrial, and mining. They provide comprehensive turnkey services including land and ROW support, planning, engineering, land surveying, landscape architecture, environmental science, project management and construction.

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