The Company signed 2 (two) new MLA s in Colombia.
37 towers were sold in 2020 to an international tower company and 10 towers were sold to a local tower company. Proceeds were used to repay debt and fund new tower construction activity.
Tower construction activity increased as the Company was awarded with several search rings, mainly in Colombia.
Financial Highlights of the Full Year of 2020:
The Company s business performance is improving after business transformation initiatives over the past year. During 2020 we saw organic growth in the revenue from its core businesses which was further improved by increased revenue corresponding to the sale of towers.
Tower One Announces Filing of Its Q4 and Year 2020 Annual Report
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Tecnoglass Reports Fourth Quarter and Full Year 2020 Results
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The financial and operational information contained in this press release is based on audited consolidated financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press release includes non-IFRS alternative performance measures i.e., EBITDA, Net cash / debt and Free Cash Flow. See exhibit I for more details on these alternative performance measures.
LUXEMBOURG, Feb. 24, 2021 (GLOBE NEWSWIRE) Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) (“Tenaris”) today announced its results for the fourth quarter and year ended December 31, 2020 with comparison to its results for the fourth quarter and year ended December 31, 2019.
EBITDA is defined as operating income (loss) plus depreciation, amortization and impairment charges / (reversals). EBITDA includes severance charges of $37 million in 4Q 2020 and $28 million in 3Q 2020. If these charges were not included EBITDA would have been $229 million (20.3%) in 4Q 2020 and $135 million (13.4%) in 3Q 2020.
In the fourth quarter of 2020, our sales rose 12% sequentially driven by a gradual recovery in drilling activity in the Americas and a good mix of products sold in the Middle East. EBITDA, which included restructuring costs of $37 million and one-off gains of $17 million due to the reversal of a provision on a claim against the former IPSCO in Canada and the recovery of a tax credit in Brazil, rose 79% sequentially, reflecting a better industrial performance and the operating leverage of higher volumes on a lower fixed cost base after the restructuring measures implemented during the year. Net income benefited from a strong contribution from our investme