Schatgraver schreef op 24 februari 2021 18:06:
• EBITDA was $22.5 million in the fourth quarter of 2020, in line with $22.8 million in the fourth quarter of 2019. In light of the COVID impacts during the year, it is important to note however, that this is a 59% increase over Q3 2020. COVID-19 had a negative $12 million impact in the fourth quarter of 2020, which is explained in more detail on page 3.
• AMG reduced SG&A by 30% in the fourth quarter of 2020 to $26.1 million, compared to $37.2 million in the fourth quarter of 2019, due to lower personnel costs and ongoing cost reduction initiatives. Full year 2020 SG&A declined by $25.7 million versus 2019 due to austerity measures and reduced variable compensation.
• AMG’s liquidity as of December 31, 2020, was $377 million, with $207 million of unrestricted cash and $170 million of revolving credit availability.
• The total 2020 dividend proposed is €0.20 per ordinary share, including the interim dividend of €0.10, paid on August 13, 2020.
We believe that AMG’s results will continue to trend positively, and we expect to exceed $100 million EBITDA in 2021.