Improved performance for GLV Group

MONTREAL, June 6, 2013 /CNW Telbec/ - (All amounts are in Canadian dollars.) 
GLV Inc. (GLV Group) announced today its financial results for the fourth 
quarter and the fiscal year ended March31,2013. The Corporation returned 
to profitability with net earnings of $0.4million or $0.01per share, basic 
and diluted, for the fourth quarter ended March 31, 2013, compared with a net 
loss of $52.8million or $1.20per share, basic and diluted, for the same 
quarter of the previous fiscal year, which included an asset impairment loss 
of $40.9million. "With the backlog at its highest level for the past five 
quarters, GLV Inc.'s management team is satisfied with the work done until now 
to deliver sustained financial performance," stated Richard Verreault, 
President and Chief Executive Officer of GLV Inc. 
The improvement in operating results over the previous fiscal year 
demonstrates the progress achieved following the implementation of Ovivo's 
business refocusing strategy announced at the beginning of fiscal 2013. As a 
result, order taking in Ovivo's targeted markets met management's 
expectations, contributing to the increase in the backlog as at March 31, 2013. 
Compared with the fourth quarter of the previous fiscal year during which a 
significant asset impairment loss was recognized, the decrease in 
restructuring costs and the lower income tax expense also contributed to the 
return to profitability for the current quarter. 
GL&V Pulp and Paper's operating performance was lower than for the same 
quarter of the previous year, owing primarily to the reduction of the backlog 
during the first half of fiscal 2013 caused by the continuing economic 
slowdown in Europe and Asia that mainly affects the new equipment market. 
The weaker performance was also attributable to cost overruns on certain new 
equipment sale projects. 
Fiscal 2013 
For the fiscal year ended March 31, 2013, the Corporation reported a net loss 
of $12.8million or $0.29 per share, basic and diluted, compared with a net 
loss of $54.1million or $1.23per share, basic and diluted, for the 
corresponding period of the previous fiscal year. The loss from continuing 
operations attributable to shareholders of GLV Group (excluding the portion 
attributable to other shareholders of non-wholly owned subsidiaries) amounted 
to $5.7million or $0.13per share, basic and diluted, compared with 
$53.4million or $1.21per share, basic and diluted, for the corresponding 
period of the previous fiscal year. Excluding the impact of discontinued 
operations, the changes resulted primarily from the asset impairment charge 
recognized in 2012, the decrease in net financial expenses, and lower 
restructuring costs, partly offset by the increase in the income tax expense. 
Discontinued operations 
In line with Ovivo's new business strategy, the Corporation decided during 
fiscal 2013 to discontinue all operations in the Waste to Energy Industrial 
segment, including the sale of its joint venture operating in this market, 
which was completed during the fiscal year. With respect to this segment, 
losses of $0.5million and $7.1million, respectively, were reported under 
discontinued operations for the three-month and twelve-month periods ended 
March 31, 2013. 
Backlog and outlook 
As at March 31, 2013, GLV Group's backlog stood at $380.0million, its 
highest level in the past five quarters, mainly driven by Ovivo's backlog 
resulting from three large contracts in Electronics and Metals as announced on 
April9,2013. Although Ovivo's backlog decreased in its other segments, 
tendering activity remains reasonable and the expected profitability of the 
backlog improved considerably as at March 31, 2013, compared with 
March31,2012. In the Parts and Services market, the backlog is stable and 
the measures taken to develop this important niche in Ovivo's strategy should 
have a gradual impact over fiscal 2014. 
At GL&V Pulp and Paper, the backlog is comparable to the previous quarter's 
level, owing mainly to order taking in the Parts and Services market. Last, as 
at March 31, 2013, the backlog of the Van der Molen division, which was part 
of Christ Water Technology, is at its highest level since the acquisition of 
this company in 2009. 
Fiscal 2014 will be a year of investment for GLV Group, which is expected to 
translate into a gradual and sustained improvement in profitability. For 
fiscal 2014 as a whole, assuming exchange rates remain stable at current 
levels and in light of the outlook in the segments serviced by each group, and 
in particular the refocusing of Ovivo's operations, the Corporation expects 
consolidated revenues to total between $600 million and $625million. 
From GLV to GLV Group 
During fiscal 2013, management initiated a strategic reflection that led to a 
review of the Corporation's mission and business strategy as well as to a 
change in its business name. This change included a corporate signature 
representing what underlies GLV's past, present and future success, namely: 
its employees and its know-how. That is how GLV Group; Insightful people was 
On April 8, 2013, GLV Group launched its new website ( - a unique 
communication tool that provides a single window for financial partners, 
employees and clients to learn more about the Corporation. 
This press release presents the highlights for the fourth quarter and the 
fiscal year ended March 31, 2013. For a detailed analysis, see the 
management's discussion and analysis and the consolidated financial statements 
for the fiscal year ended March 31, 2013, filed today on the websites of SEDAR 
( and the Corporation ( Note that non-IFRS 
financial measures were used to analyze performance, as management considers 
that they provide useful information for investors seeking to assess the 
Corporation's performance and financial position. 
About GLV Group (GLV Inc.) 
GLV Group is made up of international companies operating primarily in the 
water treatment (Ovivo) and pulp and paper (GL&V Pulp and Paper) industries 
that offer comprehensive technological solutions as well as services and 
equipment tailored to specific client needs. GLV Group's business units 
operate in more than 25 countries and have approximately 2,100 employees. GLV 
Inc. is a public company whose shares trade on the Toronto Stock Exchange 
under the ticker symbols GLV.A and GLV.B. 
Notice regarding forward-looking statements
Certain statements in this press release regarding management's objectives, 
projections, estimates, expectations or forecasts may constitute 
forward-looking statements within the meaning of applicable securities 
legislation. Forward-looking statements are recognized by the use of terms 
such as "forecast," "project," "could," "plan," "aim," "estimate" and other 
similar terms, possibly used in the future or conditional, particularly with 
regard to certain assumptions. The management of GLV Inc. would like to point 
out that forward-looking statements involve a number of uncertainties and 
known and unknown risks such that the actual and future results of GLV Inc. 
could differ considerably from those stated. There can be no assurance as to 
the materialization of the results, performance or achievements as expressed 
in or underlying the forward-looking statements. The forward-looking 
statements included in this press release were made as of the date hereof, and 
unless required to do so pursuant to applicable securities legislation, 
management of GLV Inc. assumes no obligation to update them. 
Additional information about the risk factors to which GLV Inc. is exposed is 
provided under section 10, "Risks and uncertainties," of the management's 
discussion and analysis for the fiscal year ended March 31, 2013 available on 
SEDAR ( and the Corporation's website ( 
Date and time: Thursday, June 6, 2013 at 2:00 p.m. (EDT)
Dial-in number: 
1-888-231-8191 (North America)
1-647-427-7450 (International) 
An audio webcast of the conference call will be streamed live on 
An audio recording will be accessible on demand from 5:00 p.m. (EDT), June 6, 
2013 until midnight Thursday, June 13, 2013 at 1-855-859-2056 
(1-416-849-0833-International, access code: 71884100#).  
Investors: France De Blois Chief Financial Officer Tel.: + 514 284-2224 
Media: Julie Cusson Corporate Director, Communications Tel.: + 514 284-2224  
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CO: GLV Inc.
ST: Quebec
-0- Jun/06/2013 14:15 GMT
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