Aimia Inc. (LSE:AII) reported a 21.3% increase in third-quarter 2026 revenue from continuing operations to C$45.6 million, compared with C$37.6 million a year earlier, supported by improved performance at its Cortland International subsidiary.
However, the Canadian investment holding company recorded a consolidated net loss of C$14.3 million, compared with net earnings of C$3.0 million in the corresponding quarter of 2025.
The loss amounted to C$0.17 per common share, against earnings of C$0.02 per share a year earlier.
Revenue and Gross Profit Increase
Gross profit from continuing operations rose 25.3% to C$10.4 million, while gross margin improved to 22.8% from 22.1%.
Adjusted EBITDA from continuing operations declined to C$3.2 million from C$3.5 million, reflecting higher expenses associated with corporate strategic initiatives and the company’s multiple stock exchange listings.
Cortland International reported revenue growth driven by pricing surcharges, changes in product mix and stronger demand across aerospace, defence, industrial safety and fishing markets.
The subsidiary generated adjusted EBITDA of C$5.7 million, compared with C$5.5 million a year earlier, although its adjusted EBITDA margin narrowed to 12.5% from 14.6%.
Investment Losses Affect Quarterly Earnings
Aimia’s consolidated results included a C$8.3 million unrealised fair value loss on its investment in Clear Media.
The company also recognised C$4.8 million in deferred financing costs associated with the redemption of its 9.75% senior unsecured notes.
During the quarter, Aimia invested C$15.5 million in publicly traded companies and repurchased 278,900 common shares for C$0.7 million.
Equity attributable to common shareholders increased to C$3.55 per share, compared with C$3.28 in the third quarter of 2025.
Executive Chairman Rhys Summerton said the company had made progress in implementing its investment strategy, including improvements at Cortland and the deployment of capital into new investments.
Cash Position and AIM Listing
Aimia held C$152.5 million in cash and cash equivalents at September 30, 2026, alongside C$28.7 million in marketable securities.
The cash balance declined from C$294.5 million at the end of June, primarily reflecting the repayment of C$131.4 million in senior unsecured notes and additional investment activity.
The company began trading on the AIM market of the London Stock Exchange under the ticker AII on October 1, 2026.
Management said its near-term priorities include maintaining Cortland’s operating improvements, reducing holding company expenses and identifying further investment opportunities.
Aimia expects annualised holding company costs of approximately C$7 million in 2026, excluding specified investment, share-based compensation and listing-related expenses.
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