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TSX : IBG IBI Group Inc. Announces Q3 2021 Results with 12 % Growth in Net Revenue , 17.1 % Adjusted EBITDA Margin and 24 % Higher Diluted EPS ● ● ● IBI Adjusted EBITDA¹ ( net of IFRS 16 ) of $ 18.7 million , or 17.1 % of net revenue Net revenue increased 12 % including 6.5 % organic growth 24 % growth in EPS ( diluted ) Net debt¹ to Adjusted EBITDA ¹ , 2 multiple of 0.6 times Toronto , Ontario - November 4 , 2021 – IBI Group Inc. ( " IBI " or the " Company " ) , a globally integrated design and technology firm , today announced its financial and operating results for the three and nine months ended September 30 , 2021. Select financial and operational information is outlined below and should be read with IBI's consolidated financial statements ( " Financial Statements " ) and management's discussion and analysis ( " MD & A " ) as of September 30 , 2021 , which are available on SEDAR at www.sedar.com and on IBI's website at www.ibigroup.com . The Company has continued to grow organically and because of accretive acquisitions . In Q3 2021 , net revenue totaled $ 109.6 million , of which $ 6.4 million , or 6.5 % , was attributable to organic growth . For the first nine months of the year , IBI generated $ 331.7 million of net revenue , which reflects organic growth of $ 20.5 million or 7 % compared to the same period in 2020. Foreign exchange rates caused by a weakening US dollar against the Canadian dollar continued to negatively impact revenue for each of the Company's three business sectors . During the third quarter , IBI's Adjusted EBITDA¹ net of IFRS 16 was $ 18.7 million ( representing 17.1 % of net revenue ) , 15 % higher than Q3 2020. In the first nine months of 2021 , Adjusted EBITDA¹ net of IFRS 16 was $ 53.1 million ( representing 16.0 % of net revenue ) , an increase of 12 % over the same period the prior year . IBI recorded higher net income in Q3 2021 relative to the prior year period , totaling $ 8.2 million ( $ 0.21 per diluted share ) , an increase of 24 % on a per share basis , and for the first nine months of the year , net income grew to $ 20.8 million ( $ 0.54 per diluted share ) , 10 % higher on a per share basis than the same period in 2020. With continued balance sheet strength and ongoing free cash flow generation , IBI believes that its optimal capital allocation strategy includes directing free cash flow and borrowing capacity towards strategic acquisitions that promote growth , as well as new products and technologies that can improve the efficiency of the business . The Company continues to actively review its pipeline of potential acquisition opportunities and remains committed to exercising financial prudence when assessing targets . " IBI has continued to perform through the first nine months of 2021 ; Adjusted EBITDA¹ in Intelligence increased by 16 % this quarter , along with solid results from Infrastructure and Buildings , all of which contributed to net revenue and Adjusted EBITDA¹ margin growth . Like many companies , we are facing inflationary pressures , particularly related to compensation , but we are working to offset these by reducing corporate , overhead and financing costs . Moving forward , we intend to allocate capital to expand our portfolio in key areas and sectors and grow recurring revenue through products and services . We will continue to invest in technology to enhance efficiencies and protect our strong balance sheet , " said Scott Stewart , Chief Executive Officer of IBI Group Inc. " In support of our ESG and sustainability strategy , the Company will implement flexible working options as COVID - 19