Foraco International SA

Foraco International announced that it will host a webcast investor presentation on June 14th, 2023 at 11:00 AM ET. During the webcast, Daniel Simoncini, Executive Chairman and Tim Bremner incoming Chief Executive Officer will conduct a Power Point presentation that will cover key areas of Foraco's business. After the formal presentation, investors will have an opportunity to ask relevant questions through an interactive [...]

Foraco International announced its first quarter 2023 results. "We set an all-time revenue record of US$ 88.4 million in the first quarter of 2023 compared to US$ 67.7 million in the first quarter of 2022, an increase of 30%. Our last twelve months revenue reached a new high of US$ 351 million. We are proud to see the results of the strategy we have developed and consistently applied...

Foraco International will release its first quarter 2023 financial results, prior to TSX market open on Friday, April 28. Following the release, Management of the Company will host a Conference Call at 10:00 am ET to review the financial results. The call will be hosted by Daniel Simoncini, Chairman & Co-CEO and Jean-Pierre Charmensat, Co-CEO & CFO. To join the conference call without operator assistance, you may register [...]

Foraco International announced it has been awarded a major contract with Rio Tinto Iron Ore. This contract is for water related drilling services in the Pilbara region, involving both monitoring wells, dewatering wells and vibrating wire piezometers digital networks installation, mostly with flooded reverse circulation rigs and is signed for 2 years firm plus 3 optional years extension. It will involve a total of 4 rigs [...]

Foraco International in accordance with Toronto Stock Exchange requirements, announces the voting results at the ordinary meeting of shareholders of the Company held on April 6, 2023 in Marseille. In accordance with French law, shareholders of the Company, when voting in elections for directors, are given the option to vote "for" or "against/abstain" for the director nominees, meaning that it is not possible for nominees [...]

Foraco International announced it has signed a Preliminary Agreement with its partners to dispose of its participation in Russia. Foraco was present in Russia through a 50% stake into Eastern Drilling Company. Since 2010 the Company has been providing technical and out of the country support services to EDC until the beginning of 2022. Today Foraco has formally agreed with its Russian partners to sell them 100% of its [...]

Foraco International SA announces the planned retirement of Chairman and co-CEO Daniel Simoncini and co-CEO and CFO Jean-Pierre Charmensat from their executive management positions effective as of July 1, 2023. Mr. Simoncini and Mr. Charmensat will continue to serve on the Board of Directors and support an orderly transition, and will undertake special projects on behalf of the Board. Foraco's Board has unanimously [...]

Q4 revenue increased 23% to US$84.9 million Q4 EBITDA increased 82% to US$17.1 million FY 2022 revenue increased 23% to US$330.6 million, benefiting from strategic positioning in key commodities Record FY 2022 EBITDA of US$66.5 million Strong FY 2023 backlog of US$229.6 million confirming strength of business model FY 2022 utilization rate of 58% Significantly de-levered balance sheet to 1.1x at year-end 2022 Net result [...]

Foraco International SA will release its fourth quarter 2022 financial results, prior to TSX market open on Thursday, February 16, 2023. Following the release, Management of the Company will host a Conference Call at 10:00 am ET to review the financial results. The call will be hosted by Daniel Simoncini, Chairman & Co-CEO and Jean-Pierre Charmensat, Co-CEO & CFO. To join the conference call without operator assistance [...]

Foraco International SA announced it has been awarded recently a series of major contracts with Vale Canada. Over the last few weeks, Foraco has won new contracts and successfully negotiated multiyear extensions to existing contracts with Vale Canada for the provision of exploration, definition drilling and large diameter rotary drilling. The exploration and evaluation drilling services - both surface and underground [...]