Aimia Statement on Impact of Brexit Vote – Impact From Currency Fluctuations Not Expected to Be Material
MONTREAL, June 24, 2016 /CNW Telbec/ – Aimia Inc. (TSX: AIM), the data-driven marketing and loyalty analytics company, said today that declines in the GBP/CAD exchange rate would be unlikely to have a material mid-term impact on the company’s financial results.
In the near term, the company expects a period of uncertainty to prevail in the U.K. as the government determines its position with respect to the EU. Over the longer term, the company will evaluate the impact, if any, of the U.K.’s move to leave the EU to the business climate, regulatory environment, and trade flows.
In the U.K., Aimia owns and operates Nectar, the largest loyalty coalition program in the country, serving U.K. members, along with data analytics businesses. Aimia has limited financial exposure in EU countries outside the U.K.
“We do not expect a material impact on Adjusted EBITDA or Free Cash Flow from a weaker pound, as the pressure on gross billings and operating costs from our U.K. business when the pound falls is counterbalanced by a reduction in costs related to global product development work that is also done in London,” said Rupert Duchesne, Group Chief Executive, Aimia.
Aimia Inc. (TSX: AIM) is a data-driven marketing and loyalty analytics company. We provide our clients with the customer insights they need to make smarter business decisions and build relevant, rewarding and long-term one-to-one relationships, evolving the value exchange to the mutual benefit of both our clients and consumers.
With about 3,200 employees across 17 countries, Aimia partners with groups of companies (coalitions) and individual companies to help generate, collect and analyze customer data and build actionable insights.
We do this through our own coalition loyalty programs such as Aeroplan in Canada, Nectar in the U.K., and Air Miles Middle East, and through provision of loyalty strategy, program development, implementation and management services underpinned by leading products and technology platforms such as the Aimia Loyalty Platform and Smart Button, and through our analytics and insights business, including Intelligent Shopper Solutions. In other markets, we own stakes in loyalty programs, such as Club Premier in Mexico and Think Big, a partnership with Air Asia and Tune Group. Our clients are diverse, and we have industry-leading expertise in the fast-moving consumer goods, retail, financial services, and travel and airline industries globally to deliver against their unique needs.
For a full list of our partnerships and investments, and more information about Aimia, visit www.aimia.com.