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    CSU   CA21037X1006

CONSTELLATION SOFTWARE INC.

(CSU)
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Constellation Software : Q1 2021 Financial Statements

05/05/2021 | 05:11pm EDT

Condensed Consolidated Interim Financial Statements (In U.S. dollars)

CONSTELLATION

SOFTWARE INC.

For the three months ended March 31, 2021 and 2020 Unaudited

CONSTELLATION SOFTWARE INC.

Consolidated Statements of Financial Position

(In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.) Unaudited

March 31, 2021

December 31, 2020

March 31, 2020

Assets

Current assets:

Cash

$

932

$

758

$

364

Accounts receivable

518

483

455

Unbilled revenue

128

98

104

Inventories

27

27

32

Other assets (note 5)

288

219

209

1,892

1,585

1,163

Non-current assets:

Property and equipment

92

86

78

Right of use assets

266

251

233

Deferred income taxes

57

52

46

Other assets (note 5)

80

75

70

Intangible assets (note 6)

2,759

2,325

1,987

3,254

2,790

2,414

Total assets

$

5,147

$

4,375

$

3,577

Liabilities and Shareholders' Equity

Current liabilities:

Debt with recourse to Constellation Software Inc. (note 7)

$

122

$

113

$

90

Debt without recourse to Constellation Software Inc. (note 8)

34

28

2

Redeemable preferred securities (note 9)

390

-

-

Accounts payable and accrued liabilities

637

666

453

Dividends payable (note 12)

21

21

21

Deferred revenue

1,296

962

1,035

Provisions (note 10)

15

12

10

Acquisition holdback payables

78

85

78

Lease obligations

77

74

59

Income taxes payable (note 11)

91

78

60

2,761

2,040

1,809

Non-current liabilities:

Debt with recourse to Constellation Software Inc. (note 7)

527

421

348

Debt without recourse to Constellation Software Inc. (note 8)

271

199

143

Deferred income taxes (note 11)

371

285

250

Acquisition holdback payables

31

37

30

Lease obligations

214

201

191

Other liabilities (note 5)

139

146

87

1,554

1,288

1,049

Total liabilities

4,315

3,328

2,858

Shareholders' equity (note 12):

Capital stock

99

99

99

Other equity

(165)

-

-

Accumulated other comprehensive income (loss)

(67)

(31)

(70)

Retained earnings

950

980

690

Non-controlling interests (notes 1 and 18)

15

-

-

832

1,048

719

Subsequent events (notes 12 and 19)

Total liabilities and shareholders' equity

$

5,147

$

4,375

$

3,577

See accompanying notes to the condensed consolidated interim financial statements.

1

CONSTELLATION SOFTWARE INC.

Condensed Consolidated Interim Statements of Income

(In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended March 31,

2021

2020

Revenue

License

$

66

$

57

Professional services

237

178

Hardware and other

39

42

Maintenance and other recurring

834

676

1,176

953

Expenses

Staff

641

510

Hardware

22

23

Third party license, maintenance and professional services

96

79

Occupancy

9

9

Travel, telecommunications, supplies, software and equipment

39

51

Professional fees

15

14

Other, net

5

5

Depreciation

29

25

Amortization of intangible assets (note 6)

118

94

975

810

Foreign exchange loss (gain)

(13)

(6)

IRGA/TSS Membership liability revaluation charge (note 7)

61

18

Finance and other expense (income) (note 13)

(2)

(0)

Impairment of intangible and other non-financial assets (note 6)

3

5

Redeemable preferred securities expense (income) (note 9)

263

-

Finance costs (note 13)

15

11

327

28

Income (loss) before income taxes

(126)

115

Current income tax expense (recovery)

64

44

Deferred income tax expense (recovery)

(14)

(12)

Income tax expense (recovery)

49

33

Net income (loss)

(175)

83

Net income (loss) attributable to:

Equity holders of Constellation Software Inc. (notes 1 and 18)

(9)

83

Non-controlling interests (notes 1 and 18)

(166)

-

Net income (loss)

(175)

83

Earnings per common share of Constellation Software Inc.

Basic and diluted (note 14)

$

(0.41)

$

3.91

See accompanying notes to the condensed consolidated interim financial statements.

2

CONSTELLATION SOFTWARE INC.

Condensed Consolidated Interim Statements of Comprehensive Income

(In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended March 31,

2021

2020

Net income (loss)

$

(175)

$

83

Items that are or may be reclassified subsequently to net income:

Foreign currency translation differences from foreign operations and other

(23)

(30)

Other comprehensive income (loss) for the period, net of income tax

(23)

(30)

Total comprehensive income (loss) for the period

$

(198)

$

53

Total other comprehensive income (loss) attributable to:

Equity holders of Constellation Software Inc. (notes 1 and 18)

(17)

(30)

Non-controlling interests (notes 1 and 18)

(6)

-

Total other comprehensive income (loss)

$

(23)

$

(30)

Total comprehensive income (loss) attributable to:

Equity holders of Constellation Software Inc. (notes 1 and 18)

(26)

53

Non-controlling interests (notes 1 and 18)

(172)

-

Total comprehensive income (loss)

$

(198)

$

53

See accompanying notes to the condensed consolidated interim financial statements.

3

CONSTELLATION SOFTWARE INC.

Condensed Consolidated Interim Statement of Changes in Equity

(In millions of U.S. dollars, except per share amounts. Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended March 31, 2021

Equity Attributable to Shareholders of CSI

Non-

Total equity

Capital stock

Other equity

Accumulated

Retained

Total

other

earnings

controlling

comprehensive

interests

income (loss)

Balance at January 1, 2021

$

99

$

-

$

(31)

$

980

$

1,048

-

$

1,048

Total comprehensive income for the period:

Net income (loss)

-

-

-

(9)

(9)

(166)

(175)

Other comprehensive income (loss)

Foreign currency translation differences from

foreign operations and other

-

-

(17)

-

(17)

(6)

(23)

Total other comprehensive income (loss)

for the period

-

-

(17)

-

(17)

(6)

(23)

Total comprehensive income (loss) for the period

-

-

(17)

(9)

(26)

(172)

(198)

Transactions with owners, recorded directly in equity

Special dividend of Topicus Subordinated Voting Shares (note 1

and 12)

-

(141)

(16)

-

(157)

157

-

Issuance of Topicus Coop Ordinary Units to non-controlling

interests (note 4)

-

(21)

(2)

-

(23)

23

-

Net acquisition of non-controlling interest associated with

acquisitions and other movements

-

(3)

-

0

(3)

6

3

Dividends to shareholders of the Company (note 12)

-

-

(21)

(21)

-

(21)

Balance at March 31, 2021

$

99

$

(165)

$

(67)

$

950

$

817

$

15

$

832

See accompanying notes to the condensed consolidated interim financial statements.

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Constellation Software Inc. published this content on 05 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2021 21:10:02 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 5 006 M - -
Net income 2021 310 M - -
Net cash 2021 522 M - -
P/E ratio 2021 107x
Yield 2021 0,25%
Capitalization 33 245 M 33 279 M -
EV / Sales 2021 6,54x
EV / Sales 2022 5,54x
Nbr of Employees 19 000
Free-Float 93,8%
Chart CONSTELLATION SOFTWARE INC.
Duration : Period :
Constellation Software Inc. Technical Analysis Chart | CSU | CA21037X1006 | MarketScreener
Technical analysis trends CONSTELLATION SOFTWARE INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 1 568,77 $
Average target price 1 632,39 $
Spread / Average Target 4,06%
EPS Revisions
Managers and Directors
Mark Henri Leonard Chairman & President
Jamal Nizam Baksh Chief Financial Officer
Mark Robert Miller Chief Operating Officer & Director
Bernard Anzarouth Chief Investment Officer
Stephen R. Scotchmer Lead Independent Director
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