Four new acquisitions in Canada
New acquisition in the U.S. following the end of the quarter

Highlights of Q1 ended February 28, 2023

MONTREAL, April 6, 2023 /CNW/ - "Richelieu (TSX: RCH) "We are satisfied with our first quarter results and our five new acquisitions completed during and after this period as well as our new developments in the United States. We achieved sales of $403.0M, up 4.8%. For purposes of fair comparison with the first quarter of 2022, it should be noted that the market environment resulting from the pandemic contributed to generate exceptional growth in our results, particularly in the first quarter of 2022 when EBITDA increased by 40.8% and net earnings by 43.4%. In the first quarter of 2023, EBITDA was $49.1M, down 8.6%, and EBITDA margin at 12.2% from 14.0% in 2022. Net income attributable to shareholders was $22.4M or $0.40 per diluted share. We ended the quarter with a very healthy and solid financial position. In the coming periods, while integrating our recent acquisitions, we are confident that we will actively pursue our growth strategy focused on innovations, acquisitions and value-added multi-access service," said Richard Lord, President and Chief Executive Officer.