Supremex Inc. announced its results for the 4Q and year ended December 31, 2019. Total revenue for the three-month period ended December 31, 2019, was $49.2 million, representing a 9.2% reduction from $54.2 million in the 4Q 2018.
EBITDA was $6.8 million, compared with a negative EBITDA of $9.4 million primarily as a result of a $16.1 million goodwill impairment charge on the Company's envelope operations and a $1.2 million restructuring expense recorded in the 4Q 2018.
Adjusted EBITDA for the 4Q 2019 was $5.4 million compared with $8.1 million in the equivalent quarter of 2018. The decrease of $2.7 million in Adjusted EBITDA stems primarily from the lower contribution from the packaging and specialty products segment. 4Q 2019 Adjusted EBITDA margins stood at 11% of revenue compared with 15.1% in the equivalent quarter of 2018.
FY 2019 revenue decreased by 1.8% or $3.4 million, to $191.7 million from $195.1 million during the twelve-month period ended December 31, 2018, from lower revenue from both business segments.
FY 2019 EBITDA was $25.3 million, compared with $7.5 million for the equivalent period in 2018, mainly on account of a $16.1 million goodwill impairment charge on the company's envelope operations and of a $1.2 million restructuring expense recorded in the 4Q 2018.
Supremex is a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions.
