Wrap Text
Aimia reports second quarter 2026 results
AIMIA INC.
(Incorporated in Canada)
(Corporation number: 1563505-5)
TSX share code: AIM JSE share code: AII
ISIN: CA00900Q1037
LEI: 5299005QK3KSTUZ66Y90
AIMIA REPORTS SECOND QUARTER 2026 RESULTS
Toronto, August 11, 2026 - Aimia Inc. (TSX: AIM; JSE: AII) ("Aimia" or the "Company"), today reported its financial results for the
three and six months ended June 30, 2026. All amounts are in Canadian currency unless otherwise noted.
SENIOR LEADERSHIP COMMENTARY
"The closing of the Bozzetto transaction, which generated $270 million in net proceeds, the purchase of more than $131 million of
Senior Notes outstanding, and the renewal of our normal course issuer bid in the second quarter are indicative of the ongoing
progress we are making against our strategy and commitment to enhancing shareholder value," said Rhys Summerton, Aimia's
Executive Chairman. "We anticipate sustaining this momentum over the coming months through disciplined capital allocation
initiatives, completion of a dual listing in the UK, and accelerating a turnaround at Cortland."
"The $21.7 million gain from the Bozzetto divestiture contributed to our highest earnings per share in more than a year and to a
21.5% increase in the quarter in the net equity value attributable to common shareholders, which totaled $330.6 million at quarter
end," said Steven Leonard, Aimia's President & Chief Financial Officer. "As we continue to execute our strategy, we will sharpen
our focus on growing our net equity value given our belief that investing in undervalued companies with strong balance sheets,
sustainable operations, and recurring cashflow will deliver meaningful long-term growth."
AIMIA'S Q2 2026 HIGHLIGHTS
- Completed the sale of the Company's interest in the specialty chemicals business Giovanni Bozzetto S.p.A for final net
proceeds of $270 million after the payments of Bozzetto's net debt, minority interests, and transaction costs.
- Recorded a net accounting gain of $21.7 million on the sale of Bozzetto. Aimia did not incur an income tax expense with the
transaction as the taxable gain of approximately $45 million was fully offset by the utilization of capital loss carry forwards.
- Renewed a normal course issuer bid (NCIB) to purchase for cancellation up to 5,012,419 common shares, representing 10%
of the Company's public float as at May 29, 2026. The renewed NCIB expires June 7, 2027.
Purchased an aggregate principal amount of $131.4 million of the Company's outstanding 9.75% Senior Unsecured Notes
through a tender offer to note holders following the closing of the Bozzetto transaction. The tender offer expired on June 26
and payment for the validly tendered notes was made on July 3, 2026. Post the paydown, a balance of $11.2 million in principal
notes remains outstanding through maturity in January 2030.
- Reported revenue from continuing operations of $36.4 million, down 3.7% from $37.8 million generated in Q2 2025. Aimia's
results for Q2 2026 and the comparative period of 2025 exclude the contributions from Bozzetto, which is classified as
discontinued operations given its sale.
- Generated Adjusted EBITDA from continuing operations of $2.3 million, down from $2.8 million reported in Q2 2025. The
decline was driven by a lower contribution from Cortland International.
- Reported consolidated net earnings of $33.3 million, up from a net loss of $6.1 million in Q2 2025. The favourable $39.4 million
turnaround was largely driven by the net gain of $21.7 million related to the divestiture of Bozzetto and a favourable variance
of $10.1 million in net financial expense/income, mainly driven by a gain on foreign exchange from the translation of
intercompany receivables and cash balances denominated in US dollars.
- Generated consolidated earnings per share of $0.36 compared to a loss per share of $0.08 in Q2 2025.
- Repurchased 618,700 common shares for cancellation for a total consideration of $1.8 million.
CONSOLIDATED FINANCIAL HIGHLIGHTS
Aimia 3-Months Ended June 30 6-Months Ended June 30
(in $millions except for margin
and per share data) 2026 2025 Change 2026 2025 Change
Continuing operations
Revenue 36.4 37.8 (3.7)% 69.1 78.5 (12.0)%
Gross Profit 8.7 8.8 (1.1)% 16.6 18.5 (10.3)%
Gross Margin 23.9% 23.3% 0.6pp 24.0% 23.6% 0.4pp
Selling, general and
administrative expenses (10.1) (10.6) 4.7% (19.8) (22.3) 11.2 %
Operating Income (loss) (1.4) (1.8) 22.2% (3.2) (3.8) 15.8 %
Adjusted EBITDA (1) 2.3 2.8 (17.9)% 4.8 5.5 (12.7)%
Consolidated (unless
otherwise noted)
Net earnings 33.3 (6.1) NM 37.1 (5.7) NM
Earnings per share 0.36 (0.08) NM 0.38 0.48 (20.8)%
Earnings (loss) per share -
Continuing operations 0.03 (0.13) NM (0.03) 0.37 NM
Earnings per share -
Discontinued operations 0.33 0.05 NM 0.41 0.11 NM
Headline earnings per
share (2) 0.11 (0.10) NM 0.14 0.45 (68.9)%
(1) Adjusted EBITDA is a non-GAAP measure.
(2) Headline Earnings Per Share is a JSE mandated financial metric that measures core operating profitability by adjusting
earnings for certain specified re-measurements in accordance with the Headline Earnings Circular 1/2023 issued by the South
African Institute of Chartered Accountants (SAICA).
Following the announcement of the definitive agreement to sell Bozzetto on February 9, 2026, Aimia determined that Bozzetto met
the criteria to be classified as discontinued operations. Accordingly, Bozzetto's performance and contributions are excluded from
the results for the three and six month periods ended June 30, 2026 and the comparative periods with the exception of net earnings,
earnings (loss) per share and headline earnings (loss) per share.
This press release should be read in conjunction with Aimia's consolidated financial statements and management discussions and
analysis (MD&A) for the three-month and six-month periods ended June 30, 2026, which can be accessed from SEDAR+ and
www.aimia.com. This announcement is the responsibility of the directors of Aimia and is only a summary of the information
contained in the Q2 2026 results and does not contain full or complete details. Any investment decision by investors and/or
shareholders should be based on a consideration of, inter alia, the Q2 2026 results. The Q2 2026 results are available on the JSE
website at: https://senspdf.jse.co.za/documents/2026/JSE/isse/aiie/Q22026.pdf. The Q2 2026 results and the Company's earnings
release can be accessed from SEDAR+ and www.aimia.com.
Headline earnings per common share
The Corporation's shares are also listed on the JSE which requires the Corporation to present headline and diluted headline
earnings (loss) per share. Headline earnings (loss) per share is calculated by dividing headline earnings (loss) attributable to equity
holders of the Corporation by the weighted average number of common shares issued and outstanding during the period. The
following table summarizes the adjustments to earnings (loss) attributable to equity holders of the Corporation for the purpose of
calculating headline earnings (loss) attributable to the equity holders of the Company, and the headline earnings (loss) and diluted
headline earnings (loss) per share. Adjusted amounts represented under the "Gross" column are pre-tax whereas adjusted
amounts under the "Net" column are net of tax.
Three Months Ended
June 30, Six Months Ended June 30,
2026 2025 2026 2025
Gross Net Gross Net Gross Net Gross Net
Earnings (loss) attributable to equity holders of
the Corporation 32.5 (6.9) 35.2 (7.5)
Deduct: Dividends declared on preferred shares
related to the period (0.7) (0.7) (1.4) (1.4)
Add: Excess of preferred shares' assigned value
over consideration exchanged for repurchase — — — 53.8
Earnings (loss) attributable to common
shareholders 31.8 (7.6) 33.8 44.9
Headline earnings adjustments:
(Gain) on disposal of business (including
reclassification to net earnings of CTA) (21.7) (21.7) — — (21.7) (21.7) — —
Reclassification to net earnings of cumulative
translation adjustments — — (2.2) (2.2) — — (2.2) (2.2)
Headline earnings (loss) attributable to
common shareholders 10.1 (9.8) 12.1 42.7
Weighted average number of common
shares - Basic and diluted 88,672,380 93,457,836 88,978,384 94,256,405
Headline earnings (loss) per common share $ 0.11 $ (0.10) $ 0.14 $ 0.45
Diluted headline earnings (loss) per common
share $ 0.11 $ (0.10) $ 0.14 $ 0.45
Quarterly Conference Call and Audio Webcast Information
Aimia will host a conference call to discuss its second quarter 2026 financial results at 8:30 am ET on August 11. The call will be
webcast at https://app.webinar.net/2E4bOl7nzav. Interested parties can listen to the conference call by dialing 1 888 699 1199
or 1 416 945 7677 (internationally). A slide presentation intended for simultaneous viewing with the conference call and an
archived audio webcast will be available for 90 days following the original broadcast available at: https://www.aimia.com/investor-
relations/events-presentations/.
About Aimia
Aimia Inc. (TSX: AIM; JSE: AII) is a diversified conglomerate focused on enhancing the value of its holdings. Headquartered in
Toronto, Aimia's priorities include increasing its intrinsic value, reducing holding company costs, reducing the discount of its share
price to the intrinsic value of its businesses, and redeploying capital to make investments in undervalued companies. For more
information about Aimia, visit www.aimia.com.
For more information, please contact:
Joe Racanelli Vice President, Investor Relations
647 970 2200
Joseph.Racanelli@aimia.com
Aimia has a primary listing on Toronto Stock Exchange and a secondary listing on the Main Board of the JSE.
August 11, 2026
JSE sponsor
Java Capital
Date: 11-08-2026 12:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
