MIAMI — Henry Nahmad, the CEO of commercial laundry equipment distributor EVI Industries Inc., called fiscal 2025 “a defining year for our company” as it delivered record financial results, successfully completed its largest acquisition, and made progress on its technology roadmap.
“We believe that our expanded geographic footprint, modernized systems, and commitment to innovation position us to deliver even greater value to customers and shareholders in the years ahead,” Nahmad says.
Among its fiscal year 2025 results (compared to the fiscal year ended June 30, 2024), revenue increased 10% to a record $390 million; gross profit increased 12% to a record $118 million (or a record 30.4%); operating income increased 18% to $13.8 million; net income increased 33% to $7.5 million; and adjusted EBITDA increased 11% to $25.0 million (or 6.4%).
The company also reported its fourth-quarter results (compared to the quarter ended June 30, 2024).
Revenue increased 22% to a record $110 million; gross profit increased 24% to a record $33.9 million (or record 30.8%); operating income increased 13% to a record $4.1 million; net income increased 1% to $2.1 million; and adjusted EBITDA increased 17% to a record $7.2 million (or 6.5%).
EVI generated $21.3 million in operating cash flow during fiscal year 2025, which, while lower than the prior year, continues to reflect strong underlying operational performance, the company says.
Since 2016, the publicly traded company (NYSE American: EVI) has sought to establish itself as a leader in the North American commercial laundry distribution and service industry. EVI reports it has achieved compounded annual growth rates of 30% in revenue, 18% in net income, and 27% in adjusted EBITDA.
Its acquisition of Girbau North America — now Continental Laundry Solutions — marks what EVI calls a “significant strategic milestone.”
“Continental is expected to add approximately $50 million in annual revenue (after intercompany eliminations) and brings a comprehensive distributor support platform encompassing sales development, training, logistics, and technical support,” EVI reports. “With relationships spanning more than 80 independent distributor customers across North America, EVI believes that Continental provides a powerful new channel for growth.
“EVI plans to leverage Continental as a master distributor for OEMs aiming to accelerate market penetration and to develop it into a strategic sourcing division — delivering stronger purchasing power, improved product availability, and a more competitive value proposition for both EVI-owned distributors and Continental’s independent network.”
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