Aimia registers another loss in third quarter on disposal expenses

Aimia Inc on Friday reported a loss for the third quarter of 2026, after booking expenses linked to the sale of Giovanni Bozzetto Spa.

The Toronto-based diversified conglomerate suffered pretax loss from continuing operations of CAD12.6 million, around £6.7 million, for the nine months that ended September 30, narrowed from CAD18.2 million a prior year. Pretax loss from continuing operations for the third quarter was CAD12.3 million, widened from CAD2.5 million a year before.

In May, Aimia sold Giovanni Bozzetto, which is classified as a discontinued asset.

Revenue from continuing operations fell 1.2% to CAD114.7 million for nine months from CAD116.1 million, but third-quarter revenue from continuing operations rose 21% to CAD45.6 million from CAD37.6 million.

Adjusted earnings before interest, taxes, depreciation and amortisation for nine months declined 11% to CAD8.0 million from CAD9.0 million, and it dropped 8.6% to CAD3.2 million for the third quarter from CAD3.5 million.

From continuing operations, loss per share for nine months was CAD0.20, swinging from earnings per share of CAD0.33. Loss per share from continuing operations for the third quarter widened to CAD0.17 from CAD0.04.

Total EPS slumped 58% to CAD0.21 for nine months from CAD0.50, while third-quarter total loss per share was CAD0.17, flipped from EPS of CAD0.02.

"Our financial results for Q3 2026 were negatively impacted, however, by a number of developments, including one-time SG&A expenses related to corporate strategic initiatives and an unrealised net fair value loss related to our investment in Clear Media, Aimia said.

Aimia incurred selling, general and administrative related to the sale of Giovanni Bozzetto.

Selling, general and administrative expenses for nine months inched down to CAD31.1 million from CAD31.6 million, while they rose 22% to CAD11.3 million from CAD9.3 million.

Looking ahead, Aimia said its near-term focus is to sustain Cortland's recent momentum, reduce HoldCo costs, and strategically deploy capital.

Aimia listed on the AIM market in London early last month. It has a primary listing on the Toronto Stock Exchange, and has a secondary listing on the Johannesburg Stock Exchange, where it debuted in February.

Shares in Aimia were flat at ZAR40.00 on Friday afternoon in Johannesburg. In London, shares were flat at 141.00 pence.

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