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GDI PRESS RELEASE Integrated Facility Services For immediate release GDI Integrated Facility Services Inc. Releases its Financial Results for the Third Quarter Ended September 30 , 2021 • • • • Q3 2021 revenue of $ 408.4 million - an increase $ 43.0 million , or 11.8 % , over Q3 2020 . Q3 2021 Adjusted EBITDA¹ of $ 32.7 million – an increase of $ 2.5 million , or 8.4 % , over Q3 2020 . Q3 2021 net income of $ 9.4 million or $ 0.41 per share compared with $ 13.2 million or $ 0.59 per share in the third quarter of 2020 . Two acquisitions completed in the quarter : Enginuity , LLC , and Fuller Industries , LLC . LaSalle , Quebec , November 10 , 2021 - GDI Integrated Facility Services Inc. ( " GDI " or the " Company " ) ( TSX : GDI ) is pleased to announce its financial results for its third quarter ended September 30 , 2021 . For the third quarter of 2021 : . • • Revenue reached $ 408.4 million , an increase of $ 43.0 million , or 11.8 % , over the third quarter of 2020. Organic revenue growth was 2.9 % , growth from acquisitions was 10.2 % , and revenue growth was partially offset by a negative exchange rate effect of 1.3 % . Adjusted EBITDA¹ amounted to $ 32.7 million , an increase of $ 2.5 million , or 8.4 % , over the third quarter of 2020 . Net income was $ 9.4 million or $ 0.41 per share compared to $ 13.2 million or $ 0.59 per share in Q3 2020 . Long - term debt increased by $ 15.8 million from $ 177.0 million on June 30 , 2021 to $ 192.8 million on September 30 , 2021 , while cash , net of bank indebtedness , decreased by $ 18.6 million over the same period , totalling to a $ 34.4 million increase in long - term debt , net of cash and bank indebtedness . This increase is mainly related to the Enginuity and Fuller acquisitions , which accounted for an increase of $ 43.2 million of long - term debt . For the third quarters of 2021 and 2020 , the business segments performed as follows : ( in thousands of Janitorial Canada Janitorial USA Technical Services Complementary Services Consolidated Canadian dollars ) Revenue Organic Growth ( Decline ) Adjusted EBITDA¹ 2021 2020 2021 132,528 135,969 85,909 ( 2.5 % ) 7.9 % 1.5 % 18,372 18,435 8,142 Adjusted EBITDA Margin¹ 13.9 % 13.6 % 9.5 % 5.8 % 2020 2021 2020 2021 2020 2021 2020 83,716 179,131 129,063 14,797 21,593 408,356 365,358 ( 2.2 % ) 11.0 % ( 10.1 % ) ( 35.7 % ) 22.4 % 2.9 % ( 1.1 % ) 7,167 10,389 5,154 ( 1,066 ) 2,353 32,720 30,191 8.6 % 4.0 % ( 7.2 % ) 10.9 % 8.0 % 8.3 % 1 The terms " Adjusted EBITDA " and " Adjusted EBITDA Margin " do not have standardized definitions prescribed by International Financial Reporting Standards and therefore , may not be comparable to similar measures presented by other companies . " Adjusted EBITDA " is defined as operating income before depreciation and amortization , Canadian Emergency Wage Subsidy and related expenses , transaction , reorganization and other costs and share - based compensation . The Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by revenues . For more details and for a reconciliation of that measure to the most directly comparable IFRS measure , consult the " Operating and Financial Results " section of the Company's Management Discussion & Analysis ( MD & A ) . 1