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NFI NFI Announces Second Quarter 2021 Results August 4 , 2021 All figures quoted in U.S. dollars unless otherwise noted : 2021 Q2 Performance highlights : • Revenue of $ 583 million with 989 equivalent units ( " EUs " ) delivered . • Adjusted EBITDA of $ 52 million ; Earnings per Share of $ 0.04 and Adjusted Earnings Per Share of $ 0.12 . • Ending liquidity position of $ 389 million . Free Cash Flow of $ 15 million . • Ending total backlog position ( both firm and options ) of 8,168 EUs ( valued at $ 4 billion ) , with Active Bids up 48 % from 2021 Q1 . • NFI advanced its zero - emission , battery- and fuel cell - electric bus ( " ZEB " ) activity with 83 EUs delivered ( 8 % of 2021 Q2 deliveries ) . Remains on track for 20 % to 25 % of 2021 total manufacturing sales to be ZEBs ; ZEB backlog is now 1,311 EUs , or 16 % , of total backlog . • " NFI Forward " , the Company's strategic cost reduction initiative , realized Adjusted EBITDA savings of $ 13 million ( $ 41.5 million since inception ) , and a further $ 1 million ( $ 2.5 million since inception ) of Free Cash Flow savings . • Reaffirms Fiscal 2021 Adjusted EBITDA guidance of $ 220 million to $ 240 million , with potential for greater than 50 % improvement from Fiscal 2020 . -- WINNIPEG , Manitoba , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) ( TSX : NFI , OTC : NFYEF ) NFI Group Inc. ( " NFI " or the " Company " ) , a leader in zero - emission electric mobility solutions , today announced its unaudited interim condensed consolidated financial results for 2021 Q2 . Key financial metrics of the quarter are highlighted below : ( in millions except deliveries and per Share amounts ) Deliveries ( EUs ) IFRS Measures Revenue Net earnings ( loss ) Net earnings ( loss ) per Share Non - IFRS Measures ( 2 ) Adjusted EBITDA Adjusted Net Earnings ( Loss ) Adjusted Net Earnings ( Loss ) per Share Free Cash Flow Liquidity 2021 Q2 Change ( 1 ) 2021 Q2 LTM Change ( 1 ) 989 82 % 4,491 ( 11 ) % $ 583 3 103 0.04 103 222 75 olo olo olo % $ 2,532 % ( 7 ) ( 6 ) % 94 % % ( 0.12 ) 93 % $ 52 315 % $ 233 9 9 115 % 29 350 0.12 113 % 0.43 339 15 $ 389 136 % 87 51 ( 11 ) % $ 389 ( 11 ) % olo olo olo olo do % % % % ( 1 ) Results noted herein are for the 13 - week period ( " 2021 Q2 " ) and the 52 - week period ( " LTM 2021 Q2 " ) ended June 27 , 2021. The comparisons reported in this press release compare 2021 Q2 to the 13 - week period ( " 2020 Q2 " ) and LTM 2021 Q2 to the 52 - week period ( " LTM 2020 Q2 " ) ended June 28 , 2020. Comparisons and comments are also made to the 13 - week period ( " 2021 Q1 " ) ended March 28 , 2021. Readers are advised to review the unaudited interim condensed consolidated financial statements ( including notes ) ( the " Financial Statements " ) and the related Management's Discussion and Analysis ( the " MD & A " ) that are available at the Company's website at : https://www.nfigroup.com/investor- relations / performance - reports / and under the Company's profile at www.sedar.com . ( 2 ) Adjusted EBITDA , Adjusted Net Earnings ( Loss ) , Adjusted Net Earnings ( Loss ) per Share and Free Cash Flow are not recognized earnings or cash flow measures and do not have standardized meanings prescribed by IFRS . Therefore , they may not be comparable to similar measures presented by other issuers . See " Non - IFRS Measures " and detailed reconciliations of IFRS Measures to Non - IFRS Measures in Appendix B of this press release .