Company Hits EBITDA Target of $400m : Revenue Stable at Advanced Disposal in Year of 12 Acquisitions
Annual revenues at Ponte Vedra, Florida based waste and recycling firm, Advanced Disposal Services, have remained stable at $1,396.4 million for the year ended December 31, 2015 versus $1,403.0 million for the year ended December 31, 2014.
The company’s fourth quarter and full year results showed that adjusted EBITDA was $400.0 million versus $378.8 million in 2014 and loss from continuing operations before income taxes improved by $45.0 million to $53.0 million.
Additionally, the company said that operating cash flows improved versus 2014 and adjusted free cash flow excluding realized loss on fuel derivatives was 11% higher year-over-year.
Advanced Disposal also remained active in the acquisition market during 2015, spending some $50 million of cash to complete 12 acquisitions. Of those, five acquisitions were completed during the fourth quarter for approximately $25.0 million.
The company added that it also divested or rationalised certain non-core operations, lowering year-over-year revenue and improving margins.
"Achieving our target of $400.0 million of adjusted EBITDA marks a key financial milestone in our company's history" commented Richard Burke, CEO.
"At the same time, we were able to expand adjusted EBITDA margins by 160 basis points,” he continued.
“Our strategy of disciplined pricing, strengthening our competitive position in the vertically integrated markets we serve through accretive tuck-in acquisitions, controlling costs, and providing an excellent customer experience will continue. By taking these steps, we plan to build on the success we had in 2015," concluded the CEO.
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