Genesis Land Development Corp. (T:GDC*CA)

Business Focus: Real Estate Rental, Development & Operations (NEC)

Sector:  Real Estate Industry:  Real Estate Rental, Development & Operations
 
Company Contact
Address: 6240, 333-96 Ave NE
CALGARY AB T3K 0S3
Tel: N/A
Website: https://www.genesisland.com
IR: See website
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Key People
Stephen J. Griggs
Chairman of the Board
Iain Stewart
President, Chief Executive Officer, Director
Wayne King
Chief Financial Officer
Parveshindera S. Sidhu
President of Genesis Builders Group Inc, Vice-President - Home Building
Arnold Leslie Stefaniuk
Vice President - Regional Planning
Brian Whitwell
Vice-President - Asset Management
Business Overview
Genesis Land Development Corp. is a Canada-based integrated land developer and residential home builder. The Corporation is engaged in the acquisition, development and sale of land, residential lots and homes in the greater Calgary area. It operates through two segments: land development and home building. As a land developer, Genesis acquires, plans, rezones, subdivides, services and sells residential lots and commercial and industrial lands to third party developers and builders, and sells lots and completed homes through a wholly owned subsidiary, Genesis Builders Group Inc. (GBG), its home building division. The land portfolio is planned, developed, serviced and sold as single-family lots and townhouses, multi-family and commercial parcels. It designs, builds and sells homes on a significant portion of its single-family lots and townhouse land parcels. It also acquires single-family lots from other land developers to build and sell single-family homes in additional CMA communities.
Financial Overview
For the fiscal year ended 31 December 2023, Genesis Land Development Corp revenues increased 45% to C$203.3M. Net income increased from C$4.5M to C$14.5M. Revenues reflect Home Building segment increase of 66% to C$167.1M, Land Development segment increase of 10% to C$62.1M. Net income benefited from Finance income increase from C$512K to C$1.5M (income), Gain in investments in land development increase of 98% to C$1.1M (income).
Employees: 93 as of Dec 31, 2023
Reporting Currency: Canadian Dollars
Enterprise value: $221.78M as of Dec 31, 2023
Annual revenue (TTM): $203.31M as of Dec 31, 2023
EBITDA (TTM): $19.25M as of Dec 31, 2023
Net annual income (TTM): $14.51M as of Dec 31, 2023
Free cash flow (TTM): -$13.29M as of Dec 31, 2023
Net Debt Last Fiscal Year: $66.75M as of Dec 31, 2023
Shares outstanding: 56,785,508 as of Mar 18, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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