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Recipe Unlimited Reports 2020 Fourth Quarter and Full Year Results
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VAUGHAN, ON, March 4, 2021 /CNW/ - Recipe Unlimited Corporation reported financial results today for the 13 and 52 weeks ended December 27, 2020.
Off-premise System Sales surpassed $500 million for the year, an increase of 44.6% compared to 2019
EBITDA Contribution from the Retail and Catering division of $48.4 million for the year, an increase of 32.6% compared to 2019
Positive Operating EBITDA of $35.0 million for Q4 and $113.8 million for the year
Successfully amended lending covenants to provide additional covenant flexibility through to the end of Q1 2022 Despite 94% of our operating weeks in Q4 being impacted by mandated full closures or severely restricted capacity constraints due to COVID-19, the company generated $35 million in operating EBITDA and positive cash flow of $17.5 million. This is a testament to both the resilience of our people, ou