Record EBITDA in Patient Care Segment
The patient care segment achieved its best quarter ever with an EBITDA of 23.1%, marking a 20.6% organic growth due to increased sales in medical bed frames, mattresses, and ceiling lift packages.
Improved Financial Metrics
Savaria reported a consolidated gross margin increase to 37.7%, up 340 basis points from the previous year, and an adjusted EBITDA margin of 19.2% for the quarter.
Strong Cash Flow and Debt Management
The company reduced its leverage ratio to 1.63, with a significant improvement in free cash flow, which was 43.2 million better than 2023.
Expansion in Product Offerings
The launch of the Luma elevator, a through-the-floor lift, is expected to drive future organic growth.