Results for the second quarter ended July 31, 2013

TERREBONNE, QC, Sept. 5, 2013 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the 
"Corporation") (TSX: DRX), closed the second quarter of the 2014 fiscal year 
with revenues of $17.6 million, up from those for the same quarter of the 
previous fiscal year. For the six-month period ended July 31, 2013, ADF Group 
recorded revenues of $29.9million, compared with $23.0million the previous 
year. These increases are explained by the recently awarded contracts, which 
are starting to yield results, and by the acceleration of the project in 
Western Canada. 
The second-quarter gross margin, as a percentage of revenues, stood at 24% 
compared with 16% for the corresponding quarter the previous year, whereas the 
gross margin for the six-month period ended July 31, 2013 stood at 19% 
compared with 15% a year earlier. These increases are mainly explained by 
productivity improvements attributable to the additional volume of work, by 
the completion of certain projects with less favorable margins, and the 
acceleration of the project in Western Canada, mentioned previously. 
ADF posted second-quarter net earnings of $1.2 million ($0.04 per share, basic 
and diluted), compared with $29,000 ($0.00 per share, basic and diluted) a 
year ago. For the first six months, net earnings totalled $1.0million ($0.03 
per share, basic and diluted), compared with $0.1million ($0.00 per share, 
basic and diluted) for the first half of the previous year. 
The Corporation's operating activities used cash flows of $1.7million in the 
second quarter and $1.6million during the six-month period ended July 31, 
2013. As at July 31, 2013, the Corporation had working capital of 
$26.2million, including short-term available liquidities (cash, cash 
equivalents and short-term investments) of $12.8million. Therefore, 
available liquidities exceeded ADF Group's total debt by $10.3million, 
placing the Corporation in a solid position to support its ongoing operations, 
pursue its development projects and remunerate its shareholders in accordance 
with the dividend payment policy. 
Financial Highlights 
                                                                  
                                    Three Months     Six Months 
Periods ended July 31                   2013    2012    2013    2012 
(In thousands of dollars, and dollars     $       $       $       $
per share) 
Revenues                               17,649  10,557  29,925  23,021 
EBITDA                                  2,562     663   3,037   1,600 
Net income                              1,219      29     950     120 
- Per share (basic and diluted)          0,04    0,00    0,03    0,00 
Cash flows from (used in) operating
activities                            (1,744) (1,777) (1,638) (1,662) 
Average number of outstanding shares
(basic, in thousands)                  32,453  32,464  32,452  32,464 
Average number of outstanding shares
(diluted, in thousands)                32,941  32,869  32,928  32,900 
New orders 
In the scope of a contract it is currently carrying out in Western Canada, the 
Corporation is pleased to announce the award of additional work totalling 
close to $25million. The original contract signed in July 2012 consists in 
the fabrication of the steel structures of a new plant for a company 
specializing in the petroleum industry. This project, including the new orders 
recently signed, will be delivered by the end of the Corporation's current 
fiscal year, ending January 31, 2014. 
Outlook 
As at July 31, 2013, ADF Group's order backlog stood at $78million, the 
execution schedule of which should extend over the next 12 months. Based on 
the current level of its order backlog, the Corporation estimates that its 
2014 fiscal year revenues should reach close to $80 million. 
"We have set two main objectives for the 2014 fiscal year, they are, the 
renewal of the order backlog and the commissioning of our new plant in Great 
Falls, Montana. Since the beginning of the current fiscal year, we have signed 
over $70 million worth in new contracts and the construction of our new plant 
is in full swing. Considering the progress made over the first half of the 
2014 fiscal year, we are confident that ADF will achieve its objectives" added 
Mr. Jean Paschini, Co-Chairman of the Board and Chief Executive Officer. 
Dividend 
The Corporation announces today the payment of a second semi-annual dividend 
of $0.01 per subordinate voting share and multiple voting share, which will be 
paid on October16, 2013 to shareholders of record as at September30, 2013. 
About ADF Group Inc. 
ADF Group Inc. is a North American leader in the design and engineering of 
connections, fabrication and installation of complex steel structures, heavy 
steel built-ups, as well as in miscellaneous and architectural metals for the 
non residential construction industry. ADF Group Inc. is one of the few 
players in the industry capable of handling highly technically complex mega 
projects on fast-track schedules in the commercial, institutional, industrial 
and public sectors. 
Forward-Looking Information 
This press release contains forward-looking statements reflecting ADF 
objectives and expectations. These statements are identified by the use of 
verbs such as "expect" as well as by the use of future or conditional tenses. 
By their very nature these types of statements involve risks and uncertainty. 
Consequently, reality may differ from ADF's expectations. 
Non-IFRS Measures 
Earnings before interest, taxes, depreciation and amortization ("EBITDA") is 
not a performance measure recognized by IFRS standards, and is not likely to 
be comparable to similar measures presented by other issuers. Management, as 
well as investors, consider this to be useful information to assist them in 
assessing the Corporation's profitability and ability to generate funds to 
finance its operations. 
All amounts are in Canadian dollars, unless otherwise indicated. 
 ___________________________________________________________________
|                  CONFERENCE CALL WITH INVESTORS                   |
|                                                                   |
|To discuss ADF Group's results for the 3-month and 6-month periods |
|                       ended July 31, 2013,                        |
|          September 5, 2013 at 10:00 a.m. (Montreal time)          |
|                                                                   |
|To participate in the conference call, please dial 1-888-231-8191 a|
|             few minutes before the start of the call.             |
|                                                                   |
|   For those unable to participate, a taped rebroadcast will be    |
|                          available from                           |
| Thursday, September 5, 2013 at 1:00 p.m. until midnight Thursday  |
|                        September 12, 2013,                        |
|         by dialing 1-855-859-2056; access code 41145728.          |
|                                                                   |
|       The conference call (audio) will also be available at       |
|      www.adfgroup.com       |
|          Members of the media are invited to listen in.           |
|___________________________________________________________________| 
Jean Paschini, Co-Chairman of the Board of Directors and Chief Executive 
Officer Jean-François Boursier, CPA, CA, Chief Financial Officer 
Telephone: (450) 965-1911 / 1 (800) 263-7560 Web Site: www.adfgroup.com 
SOURCE: ADF Group Inc. 
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CO: ADF Group Inc.
ST: Quebec
NI: CST ERN CONF DIV  
-0- Sep/05/2013 11:00 GMT