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Financial Highlights

(from continuing operations)
(in millions of Canadian dollars, except per share data) 
Three months ended Years ended
  November 30, 2018 August 31, 2018 November 30, 2017 November 30, 2018 November 30, 2017
Income 108.5 116.5 120.9 450.2 455.5
Net income attributable to equity owners of the Company 14.7 20.7 17.3 73.9 52.1
EBITDA 1 28.7 32.2 33.1 106.5 116.4
Adjusted EBITDA 1 27.2 32.2 23.1 110.2 106.4
Diluted earnings per share attributable to equity owners of the Company 0.19 0.26 0.21 0.92 0.64
Adjusted diluted earnings per share attributable to equity owners of the Company 1 0.17 0.20 0.11 0.64 0.53
Free Cash Flow1 16.1 12.8 21.6 41.4 58.7
Dividends per share 0.08 0.08 0.08 0.32 0.32
Long-term debt 188.6 168.7 138.6 188.6 138.6

1 EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EBITDA, adjusted diluted earnings per share and Free Cash Flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.

(end of period)
(in millions of Canadian dollars) 
Three months ended Years ended
  November 30, 2018 August 31, 2018 November 30, 2017 November 30, 2018 November 30, 2017
Mutual fund assets under management (AUM) 1
 (including retail pooled funds)
18,713 19,401 19,111 18,713 19,111
Institutional, sub-advisory and ETF accounts AUM 12,475 12,694 11,782 12,475 11,782
Private client AUM 5,513 5,714 5,517 5,513 5,517
Alternative asset management platform AUM 2 1,011 1,009 902 1,011 902
Total AUM, including alternative asset management platform 37,712 38,818 37,312 37,712 37,312
Net mutual fund sales (redemptions) 1 111 (9) (139) 136 (405)
Average daily mutual fund AUM 1 18,382 18,788 18,220 18,643 18,228

1 Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.
2 Represents fee-earning committed and/or invested capital from AGF and external investors held through joint ventures. AGF’s portion of this commitment is $150.0 million, of which $115.1 million has been funded as at November 30, 2018, which includes $10.1 million return of capital related to the monetization of its seed assets.