Products You May Like
Fourth Quarter Highlights
- Revenues decreased 11.8% to $60.3 million from $68.4 million, primarily as a result of affect of the COVID-19 pandemic on Radio revenues
- Natural progress of 4.3% in Broadcast and Recurring Industrial Music revenues(1) excluding the affect of international change and robust natural progress of 13.3% in the US
- Adjusted EBITDA(2) decreased 16.2% to $23.6 million from $28.2 million. Nonetheless, Adjusted EBITDA(2) margin remained steady
- Money move from working actions elevated 74.3% to $24.5 million ($0.34 per share) in comparison with $14.1 million ($0.19 per share)
- Adjusted free money move(3) decreased 23.2% to $13.8 million ($0.19 per share) in comparison with $18.0 million ($0.24 per share)
- Web debt to Professional Forma Adjusted EBITDA(4) ratio of two.81x
- 967,415 shares repurchased and cancelled for a complete of $6.8 million, and
- 525,000 streaming subscribers, elevated appreciably by 25.3% over final yr
Full Yr Highlights
- Revenues decreased 18.7% to $249.5 million from $306.7 million, primarily as a result of affect of the COVID-19 pandemic on Radio revenues
- Natural progress of three.5% in Broadcast and Recurring Industrial Music revenues(1) excluding the affect of international change and robust natural progress of 11.6% in the US
- Working bills materially decreased by 25.2% to $142.5 million from $190.4 million
- Adjusted EBITDA(2) decreased 3.2% to $114.3 million from $118.1 million. Nonetheless, Adjusted EBITDA(2) margin improved from 38.5% to 45.8%
- Money move from working actions elevated 18.3% to $104.2 million ($1.42 per share) in comparison with $88.1 million ($1.16 per share) primarily as a result of adverse change in non-cash working objects
- Adjusted free money move(3) decreased 5.1% to $74.4 million ($1.01 per share) in comparison with $78.4 million ($1.03 per share), and
- 1,530,180 shares repurchased and cancelled for a complete of $10.2 million
MONTREAL, June 02, 2021 (GLOBE NEWSWIRE) — Stingray Group Inc. (TSX: RAY.A; RAY.B) (the “Company”; “Stingray”), a number one distributor of audio and video music manufacturers on the planet, at this time introduced its monetary outcomes for the fourth quarter and monetary yr ended March 31, 2021.
| Monetary Highlights (in 1000’s of {dollars}, besides per share knowledge) |
Three months ended March 31 |
Twelve months ended March 31 |
|||||||
| 2021 | 2020 | % | 2021 | 2020 | % | ||||
| Revenues | 60,316 | 68,398 | (11.8 | ) | 249,468 | 306,721 | (18.7 | ) | |
| Adjusted EBITDA(2) | 23,638 | 28,217 | (16.2 | ) | 114,268 | 118,086 | (3.2 | ) | |
| Web earnings | 12,077 | (8,486 | ) | – | 45,104 | 13,970 | 222.9 | ||
| Per share – diluted ($) | 0.17 | (0.11 | ) | – | 0.61 | 0.18 | 238.9 | ||
| Adjusted Web earnings(5) | 11,981 | 10,095 | 18.7 | 62,855 | 55,908 | 12.4 | |||
| Per share – diluted ($)(5) | 0.16 | 0.13 | 23.1 | 0.86 | 0.74 | 16.2 | |||
| Money move from working actions | 24,514 | 14,062 | 74.3 | 104,246 | 88,145 | 18.3 | |||
| Adjusted free money move(3) | 13,808 | 17,974 | (23.2 | ) | 74,359 | 78,350 | (5.1 | ) | |
| (1) | Recurring Industrial Music revenues embrace subscriptions and utilization along with fastened charges charged to our clients on a month-to-month, quarterly and annual foundation for steady music providers and excludes credit to shoppers associated to the COVID-19 pandemic. Non-recurring revenues primarily embrace promoting, assist, set up, tools, one-time charges and discontinued operations. |
| (2) | Adjusted EBITDA is a non-IFRS measure and is outlined as internet earnings earlier than internet finance expense (earnings), change in honest worth of investments, earnings taxes, depreciation and write-off of property and tools, depreciation of right-of-use property, amortization of intangible property, share-based compensation, efficiency and deferred share unit expense, and acquisition, authorized, restructuring and different bills. |
| (3) | Adjusted free money move is a non-IFRS measure and is outlined as money move from working actions much less capital expenditures, pursuits paid and compensation of lease liabilities, plus acquisition, authorized, restructuring and different bills, and adjusted for unrealized acquire or loss on international change and for the web change in non-cash working capital objects. |
| (4) | Professional Forma Adjusted EBITDA is calculated because the Company’s final twelve months Adjusted EBITDA, plus synergies and professional forma Adjusted EBITDA for the months previous to the acquisitions which aren’t already mirrored within the outcomes |
| (5) | Adjusted Web earnings is a non-IFRS measure and is outlined as internet earnings earlier than change in honest worth of investments, mark-to-market losses (good points) on by-product devices, amortization of intangible property, share-based compensation, efficiency and deferred share unit expense, and acquisition, authorized, restructuring and different bills, internet of associated earnings taxes. |
Reporting on Fiscal 2021 efficiency, Stingray’s President, co-founder and CEO Eric Boyko was very happy, stating: “We had a really stable yr contemplating the context of the previous months. We delivered outcomes which surpassed our expectations, decreased our internet debt by near $35 million, maintained $22 million in dividend funds and repurchased $10 million in shares. We additionally invested within the Stingray Enterprise within the U.S., laying the muse for future progress, and continued to construct on stable traction in SVOD and FAST channels.
“Fourth quarter Adjusted EBITDA decreased to $23.6 million reflecting primarily greater accrued liabilities tied to the enterprise’s higher total efficiency in Fiscal 2021. Adjusted EBITDA for the yr declined by solely 3.2% to $114.3 million and benefited from our complete cost-cutting measures, a lot of which shall be carried ahead post-pandemic. By performing swiftly and aggressively final yr, we had been capable of shortly construct up ample monetary flexibility, which enabled us to proceed delivering on our key capital allocation priorities.
“Testifying to the yr’s accomplishments by way of our operational value construction, regardless of decrease revenues, each segments — Broadcasting and Industrial Music and Radio — generated appreciable Adjusted EBITDA margin enhancements from the earlier yr. Within the fourth quarter, Broadcasting and Industrial Music revenues decreased by 5.5% to $36.3 million as a result of pandemic, decrease tools and set up gross sales, and the unfavourable affect of international change, partially offset by the rise in promoting revenues. Adjusted EBITDA decreased by 14.1% to $16.3 million primarily as a consequence of changes to sure accrued liabilities, partially offset by decreased working prices.
“For the quarter, Radio revenues decreased by 19.9% to $24.0 million and continued to progressively recuperate on a comparable foundation. Adjusted EBITDA decreased 9.8% to $8.7 million primarily as a result of affect of the pandemic and changes to accrued liabilities, partially offset by the CEWS and different subsidies in addition to decreased working prices.
“We concluded the yr with greater than half one million streaming subscribers. We count on stable incremental natural good points in fiscal 2022 and stay on monitor to succeed in a million subscribers. Buoyed by sturdy traction in FAST channels, over the previous yr, promoting revenues for the yr virtually tripled from a small base. With latest entry to the U.S. market, Stingray Enterprise is ready to turn into a key progress vector with a possible buyer base of game-changing proportions.
“We transfer into 2022 with leaner and extra agile operations, vital progress alternatives, a stable monetary place and totally ready to reap the benefits of the anticipated restoration in Radio. Adopting a extra offensive stance, our capital allocation technique will shift in the direction of acquisitions and the repurchasing of shares,” concluded Mr. Boyko.
Fourth Quarter Outcomes
Revenues within the fourth quarter decreased $8.1 million or 11.8% to $60.3 million, from $68.4 million a yr in the past. The lower was primarily as a result of affect of the COVID-19 pandemic on Radio revenues and, to a lesser extent, on Broadcast and Industrial Music revenues, in addition to a lower in tools and set up gross sales associated to digital signage and the adverse affect of international change, partially offset by the rise in promoting revenues within the Broadcast and Industrial Music section.
For the fourth quarter, revenues in Canada decreased $7.9 million or 18.2% to $35.6 million, from $43.5 million a yr in the past. The lower was primarily as a result of affect of the COVID-19 pandemic on Radio revenues and, to a lesser extent, on Broadcast and Industrial Music revenues and to a lower in tools and set up gross sales associated to digital signage. Revenues in the US elevated $0.7 million or 6.9% to $10.9 million, from $10.2 million a yr in the past. The rise was primarily as a consequence of natural progress in promoting revenues within the Broadcast and Industrial Music section and in streaming subscriptions, partially offset by the adverse affect of international change. Revenues in Different international locations decreased $0.9 million or 6.0% to $13.8 million, from $14.7 million a yr in the past. The lower was primarily as a result of affect of the COVID-19 pandemic on revenues.
Broadcasting and Industrial Music revenues within the fourth quarter decreased $2.2 million or 5.5% to $36.3 million, from $38.5 million a yr in the past. The lower was primarily as a result of affect of the COVID-19 pandemic on revenues, in addition to a lower in tools and set up gross sales associated to digital signage and the adverse affect of international change, partially offset by the rise in promoting revenues.
For the fourth quarter, Radio revenues decreased $5.9 million or 19.9% to $24.0 million from $29.9 million a yr in the past. This lower was primarily as a result of affect of the COVID-19 pandemic on revenues.
Adjusted EBITDA for the fourth quarter decreased $4.6 million or 16.2% to $23.6 million from $28.2 million a yr in the past. Adjusted EBITDA margin was 39.2% in comparison with 41.3% a yr in the past. Because of a greater efficiency than initially anticipated, sure accrued liabilities recorded within the first 9 months to replicate uncertainty created by the COVID-19 pandemic had been adjusted upward within the fourth quarter. This, mixed with the reversal of sure accrued liabilities within the fourth quarter of 2020, had a adverse affect on year-over-year Adjusted EBITDA. The lower in Adjusted EBITDA can also be as a result of affect of the COVID-19 pandemic on revenues, partially offset by decreased working prices and by the CEWS and different subsidies.
For the fourth quarter, the Company reported a Web earnings of $12.1 million ($0.17 per share) in comparison with a Web lack of $8.5 million ($(0.11) per share) a yr in the past. The variance was primarily associated to a mark-to-market acquire on by-product devices and a international change acquire, partially offset by greater authorized bills, greater earnings taxes and decrease working outcomes. Adjusted Web earnings was $12.0 million ($0.16 per share), in comparison with $10.1 million ($0.13 per share) a yr earlier. The rise was primarily associated to a international change acquire, partially offset by decrease working outcomes and better earnings taxes.
Money move generated from working actions amounted to $24.5 million for the fourth quarter of 2021 in comparison with $14.1 million a yr in the past. The rise was primarily as a result of optimistic change in non-cash working objects and to the international change acquire, partially offset by decrease working outcomes. Adjusted free money move generated within the fourth quarter of 2021 amounted to $13.8 million in comparison with $18.0 million a yr in the past. The lower was primarily associated to decrease working outcomes and better curiosity paid, partially offset by decrease earnings taxes paid.
As of March 31, 2021, the Company had money and money equivalents of $9.0 million, a subordinated debt of $31.7 million and credit score services of $416.3 million, of which roughly $110.8 million was out there.
Yr-Finish Outcomes
Revenues for Fiscal 2021 decreased $57.2 million or 18.7% to $249.5 million, from $306.7 million for Fiscal 2020. The lower was primarily as a result of affect of the COVID-19 pandemic on Radio revenues and, to a lesser extent, on Broadcast and Industrial Music revenues and to a lower in tools and set up gross sales associated to digital signage, partially offset by the rise in promoting revenues within the Broadcast and Industrial Music section, the acquisition of Advertising and marketing Sensorial México (MSM) and Chatter Analysis Inc. and the natural progress in streaming subscriptions.
Adjusted EBITDA for Fiscal 2021 decreased $3.8 million or 3.2% to $114.3 million from $118.1 million for Fiscal 2020. Adjusted EBITDA margin was 45.8% in comparison with 38.5% for Fiscal 2020. The lower in Adjusted EBITDA was primarily as a result of affect of the COVID-19 pandemic on revenues, to the reversal of sure accrued liabilities within the fourth quarter of 2020 and to the changes of sure accrued liabilities within the fourth quarters of fiscal 2020 and 2021 which had a adverse affect on Adjusted EBITDA, partially offset by the CEWS and different subsidies, by decreased working prices and by a settlement with SOCAN.
Web earnings for Fiscal 2021 was $45.1 million ($0.61 per share) in comparison with $14.0 million ($0.18 per share) for Fiscal 2020. The rise was primarily associated to a mark-to-market acquire on by-product devices, to decrease authorized bills and to a international change acquire, partially offset by greater earnings taxes, by a adverse change in honest worth of investments following the sale of securities held in AppDirect Inc., by greater efficiency and deferred share unit expense and by decrease working outcomes. Adjusted Web earnings for Fiscal 2021 was $62.9 million ($0.86 per share), in comparison with $55.9 million ($0.74 per share) for Fiscal 2020. The rise was primarily associated to a international change acquire, partially offset by decrease working outcomes and better earnings taxes.
Declaration of Dividend
On March 24, 2021, the Company declared a dividend of $0.075 per subordinate voting share, variable subordinate voting share and a number of voting share. The dividend shall be payable on or round June 15, 2021, to shareholders on file as of Might 31, 2021.
The Company’s dividend coverage is on the discretion of the Board of Administrators and should range relying upon, amongst different issues, our out there money move, outcomes of operations, monetary situation, enterprise progress alternatives and different elements that the Board of Administrators could deem related.
The dividends paid are designated as “eligible” dividends for the needs of the Earnings Tax Act (Canada) and any corresponding provisions of provincial and territorial tax laws.
Further Enterprise Highlights and subsequent occasions
Throughout Fiscal 2021, international economies and monetary markets had been impacted by the coronavirus (“COVID-19”) outbreak because it shortly unfold world wide and on March 11, 2020, the World Well being Group declared it a world pandemic. Authorities authorities world wide have taken actions to slowdown the unfold of COVID-19, together with measures such because the closure of non-essential companies and social distancing. The tangible affect on the Company began within the Radio section in the direction of the top of the fourth quarter of 2020, as many non-essential native companies had been compelled to briefly shut resulting in a lower in promoting and associated revenues. Within the early days of the disaster, the choice was made by the Company’s administration to implement vital value saving measures, which, mixed with the Canadian Emergency Wage Subsidy (CEWS), helped to take care of a stable monetary place. The Company’s Radio section, and Broadcast and Industrial Music section, however to a lesser extent, have been impacted in the course of the first half of 2021. Within the second half of 2021, though nonetheless impacted, the Company observed progressive enhancements in Radio promoting bookings as provinces start lifting restrictions on social distancing. Administration expects the scenario to proceed bettering as native companies resume their regular operations. The extent to which COVID-19 continues to affect the Company’s enterprise will rely on future developments, that are unsure and can’t be predicted right now. The Company’s focus shall be to proceed to intently monitor its money place and management its working bills whereas capitalizing on its progress alternatives.
On Might 5, 2021, the Company introduced the launch of free, ad-supported TV channels and premium SVOD providers with 13 main OTT suppliers: Alteox (Luxembourg), Amazon Prime Video Channels (Italy, Spain and Netherlands), ChannelBox (United Kingdom), Maskatel (Canada), Pluto TV (Latin America and United States), Pzaz (World), Rakuten TV (Europe), Redbox (United States), Rostelecom (Russia), Ruutu (Finland), Samsung TV Plus (Brazil, Mexico, Netherlands and Sweden) Totalplay (Mexico) and Zeasn (Austria and Germany). These distribution agreements develop Stingray’s viewers over new platforms in new territories and add hundreds of thousands of potential viewers.
On April 28, 2021, the Company introduced that free, ad-supported channels Qello Concert events by Stingray and Stingray Karaoke have turn into out there on Samsung TV Plus Cell in Germany and the UK. Cell and pill customers will entry each channels on Samsung’s free ad-supported video service by the TV Plus App and the Samsung Free web page. The distribution agreements develop Stingray’s potential attain by hundreds of thousands of customers. The service is ready to launch in June 2021 in Austria and Switzerland.
On March 1, 2021, the Company introduced it signed an settlement to offer customized music, media, and shopper insights options for Orangetheory Health, one of many world’s fastest-growing manufacturers, working 1,400 studios worldwide, in Canada, 50 American states and 25 international locations across the globe.
On February 26, 2021, the Company introduced that Ms. Karinne Bouchard has been appointed to the Board of Administrators, efficient instantly. Ms. Bouchard has additionally joined the Company’s Audit Committee. The Company additionally introduced that Mr. John Steele has resigned from the board.
On February 5, 2021, the Company launched its Basic Hits model Rewind in three Maritime markets. Along with rebranding the favored Basic Hits station Up! 93.1 (CIHI) in Fredericton as Rewind 93.1, the format and model seems in Miramichi as Rewind 95.9 (CHHI, beforehand 95.9 Solar FM) and in Nova Scotia’s Annapolis Valley as Rewind 89.3 (CIJK, beforehand 89.3 Okay-Rock).
Convention Name
The Company will maintain a convention name to debate these outcomes on Thursday, June 3, 2021, at 10:00 AM (ET). events can be a part of the decision by dialing 647-788-4922 (Toronto) or 1-877-223-4471 (toll free). A rebroadcast of the convention name shall be out there till midnight, July 3, 2021, by dialing (800) 585-8367 or (416) 621-4642 and coming into passcode 6594453.
About Stingray
Montreal-based Stingray (TSX: RAY.A; RAY.B) is a number one international music, media, and know-how firm with over 1,000 workers worldwide. Stingray is a premium supplier of curated direct-to-consumer and B2B providers, together with audio tv channels, over 100 radio stations, SVOD content material, 4K UHD tv channels, FAST channels, karaoke merchandise, digital signage, in-store music, and music apps, which have been downloaded over 160 million instances. Stingray reaches 400 million subscribers (or customers) in 160 international locations.
Ahead-Wanting Info
This information launch accommodates forward-looking info inside the that means of relevant Canadian securities legislation. Such forward-looking info contains, however shouldn’t be restricted to, info with respect to Stingray’s objectives, beliefs, plans, expectations, anticipations, estimates and intentions. Ahead-looking info is recognized by means of phrases and phrases comparable to “could”, “would”, “ought to”, “might”, “count on”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “imagine”, and “proceed”, or the adverse of those phrases and comparable terminology, together with references to assumptions. Please notice, nonetheless, that not all forward-looking info accommodates these phrases and phrases. Ahead-looking info relies upon plenty of assumptions and is topic to plenty of dangers and uncertainties, a lot of that are past Stingray’s management. These dangers and uncertainties might trigger precise outcomes to vary materially from these which might be disclosed in or implied by such forward-looking info. These dangers and uncertainties embrace, however should not restricted to, the chance elements recognized in Stingray’s Annual Info Type for the yr ended March 31, 2021, which is obtainable on SEDAR at www.sedar.com. Consequently, all the forward-looking info contained herein is certified by the foregoing cautionary statements, and there may be no assure that the outcomes or developments that Stingray anticipates shall be realized or, even when considerably realized, that they may have the anticipated penalties or results on Stingray’s enterprise, monetary situation or outcomes of operation. Until in any other case famous or the context in any other case signifies, the forward-looking info contained herein is supplied as of the date hereof, and Stingray doesn’t undertake to replace or amend such forward-looking info whether or not because of new info, future occasions or in any other case, besides as could also be required by relevant legislation.
Non-IFRS Measures
The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are vital measures when analyzing its working profitability with out being influenced by financing selections, non-cash objects and earnings taxes methods. Comparability with friends can also be simpler as firms not often have the identical capital and financing construction. The Company believes that Adjusted Web earnings and Adjusted Web earnings per share are vital measures because it exhibits steady outcomes from its operation which permits customers of the monetary statements to raised assess the pattern within the profitability of the enterprise. The Company believes that Adjusted free money move and Adjusted free money move per share are vital measures when assessing the amount of money generated after accounting for capital expenditures and non-core costs. It demonstrates money out there to make enterprise acquisitions, pay dividend and cut back debt. The Company believes that Web debt and Web debt to Professional Forma Adjusted EBITDA are vital to analyse the corporate’s debt compensation capability on an annualized foundation, taking into account the annualized adjusted EBITDA of acquisitions made over the past twelve months. Every of those non-IFRS monetary measures shouldn’t be an earnings or money move measure acknowledged by Worldwide Monetary Reporting Requirements (IFRS) and doesn’t have a standardized that means prescribed by IFRS. Our technique of calculating such monetary measures could differ from the strategies utilized by different issuers and, accordingly, our definition of those non-IFRS monetary measures will not be corresponding to comparable measures introduced by different issuers. Buyers are cautioned that non-IFRS monetary measures shouldn’t be construed as an alternative choice to internet earnings decided in accordance with IFRS as indicators of our efficiency or to money flows from working actions as measures of liquidity and money flows.
Adjusted EBITDA and Adjusted Web earnings reconciliation to Web earnings
| 3 months | 12 months | ||||||||
| (in 1000’s of Canadian {dollars}) | March 31, 2021 This autumn 2021 |
March 31, 2020 This autumn 2020 |
March 31, 2021 Fiscal 2021 |
March 31, 2020 Fiscal 2020 |
|||||
| Web earnings (loss) | 12,077 | (8,486 | ) | 45,104 | 13,970 | ||||
| Web finance expense (earnings) | (7,284 | ) | 33,463 | (1,199 | ) | 42,822 | |||
| Change in honest worth of investments | – | (1,914 | ) | 3,787 | (6,550 | ) | |||
| Earnings taxes | 4,047 | (4,165 | ) | 15,960 | 1,692 | ||||
| Depreciation and write-off of property and tools | 3,082 | 2,790 | 11,653 | 11,477 | |||||
| Depreciation of right-of-use property | 1,436 | 1,426 | 5,660 | 5,618 | |||||
| Amortization of intangible property | 5,303 | 5,659 | 21,379 | 23,207 | |||||
| Share-based compensation | 235 | 258 | 851 | 1,001 | |||||
| Efficiency and deferred share unit expense | 2,028 | (1,507 | ) | 6,436 | 745 | ||||
| Acquisition, authorized, restructuring and different bills | 2,714 | 693 | 4,637 | 24,104 | |||||
| Adjusted EBITDA | 23,638 | 28,217 | 114,268 | 118,086 | |||||
| Web finance expense (earnings), excluding mark-to-market losses (good points) on by-product monetary devices | (3,214 | ) | (10,976 | ) | (12,619 | ) | (27,122 | ) | |
| Earnings taxes | (4,047 | ) | 4,165 | (15,960 | ) | (1,692 | ) | ||
| Depreciation of property and tools and write-off | (3,082 | ) | (2,790 | ) | (11,653 | ) | (11,477 | ) | |
| Depreciation of right-of-use property | (1,436 | ) | (1,426 | ) | (5,660 | ) | (5,618 | ) | |
| Earnings taxes associated to alter in honest worth of investments, share-based compensation, efficiency and deferred share unit expense, amortization of intangible property, mark-to-market losses (good points) on by-product monetary devices and acquisition, authorized, restructuring and different bills | 122 | (7,095 | ) | (5,521 | ) | (16,269 | ) | ||
| Adjusted Web earnings | 11,981 | 10,095 | 62,855 | 55,908 | |||||
Adjusted free money move reconciliation to Money move from working actions
| 3 months | 12 months | ||||||||
| (in 1000’s of Canadian {dollars}) | March 31, 2021 This autumn 2021 |
March 31, 2020 This autumn 2020 |
March 31, 2021 Fiscal 2021 |
March 31, 2020 Fiscal 2020 |
|||||
| Money move from working actions | 24,514 | 14,062 | 104,246 | 88,145 | |||||
| Add / Much less : | |||||||||
| Acquisition of property and tools | (1,929 | ) | (2,153 | ) | (5,690 | ) | (6,704 | ) | |
| Acquisition of intangible property aside from internally developed intangible property | (194 | ) | (463 | ) | (1,313 | ) | (1,769 | ) | |
| Addition to internally developed intangible property | (1,367 | ) | (1,534 | ) | (6,428 | ) | (5,902 | ) | |
| Curiosity paid | (5,142 | ) | (3,819 | ) | (18,053 | ) | (17,442 | ) | |
| Compensation of lease liabilities | (1,099 | ) | (1,180 | ) | (5,011 | ) | (4,873 | ) | |
| Web change in non-cash working working capital objects | (344 | ) | 7,262 | 10,632 | (2,169 | ) | |||
| Unrealized loss (acquire) on international change | (3,345 | ) | 5,106 | (8,661 | ) | 4,961 | |||
| Acquisition, authorized, restructuring and different bills | 2,714 | 693 | 4,637 | 24,104 | |||||
| Adjusted free money move | 13,808 | 17,974 | 74,359 | 78,351 | |||||
Professional Forma Adjusted EBITDA reconciliation
| (in 1000’s of Canadian {dollars}) | March 31, 2021 |
March 31, 2020 |
||
| LTM Adjusted EBITDA | 114,268 | 118,086 | ||
| Synergies and Adjusted EBITDA for the months previous to the enterprise acquisitions which aren’t already mirrored within the outcomes | 190 | 2,037 | ||
| COVID-19 mandated retailer closures required anticipated rollouts and deployments to be deferred | 1,825 | – | ||
| Professional Forma Adjusted EBITDA | 116,283 | 120,123 | ||
| Web debt to Professional Forma Adjusted EBITDA | 2.81 | 3.01 |
Be aware to readers: Annual consolidated monetary statements and Administration’s Dialogue & Evaluation of Working Outcomes and Monetary Place can be found on the Company’s web site at www.stingray.com and on SEDAR at www.sedar.com.
Contact info:
Mathieu Péloquin
Senior Vice-President, Advertising and marketing and Communications
Stingray
(514) 664-1244, ext. 2362
mpeloquin@stingray.com
