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● ● Source : MTY Food Group Inc. Contacts : Eric Lefebvre , CPA , CA , MBA Chief Executive Officer Tel : ( 514 ) 336-8885 ir@mtygroup.com GROUPE MTY GROUP ● Pierre Boucher , CPA , CMA Jennifer McCaughey , CFA Maison Brison Communications Tel : ( 514 ) 731-0000 PRESS RELEASE FOR IMMEDIATE PUBLICATION MTY REPORTS 2020 FOURTH QUARTER AND ANNUAL RESULTS Free cash flows ( 1 ) for Q4-20 of $ 43.9 million , up 1 % compared to Q4-19 ; on a per diluted share basis , free cash flows were $ 1.78 per share in the quarter , compared to $ 1.74 a year before . For fiscal year 2020 , free cash flows were $ 140.7 million , up 20 % compared to 2019 ; on a per diluted share basis , free cash flows for 2020 reached $ 5.68 , compared to $ 4.64 in 2019 . Adjusted EBITDA ( ¹ ) for Q4-20 decreased 18 % to reach $ 35.2 million ; adjusted EBITDA ( ¹ ) for 2020 down 6 % to $ 137.8 million . • Long - term debt repayments of $ 37.6 million for the quarter . • Net income attributable to shareholders for Q4-20 at $ 20.1 million or $ 0.81 per share . ● System sales ( ¹ ) of $ 891.4 million in Q4-20 , compared to $ 1,023.5 million in Q4-19 ; on a geographical basis , system sales increased 4 % in the United States and decreased 30 % and 40 % respectively for Canada and for International locations . • Digital sales ( 1 ) in Q4-20 more than doubled compared to Q4-19 , now representing 22.5 % of system sales . • The MTY network counted 7,001 locations at year end , including 338 that were temporarily closed as a result of restrictions imposed by various authorities . During the fourth quarter , the network lost over 30,000 days of business because of temporary closures . As at February 17 , 2021 , there were 408 locations still temporarily closed . ( 1 ) This is a non - GAAP measure . Please refer to the " Non - GAAP Measures " section at the end of this press release . Note that effective December 1 , 2019 , the Company implemented IFRS 16 , Leases , but has not restated comparatives for the 2019 reporting period , as permitted under the specific transitional provisions in the standard . Please refer to the section Changes in accounting policies in the Management's Discussion and Analysis ( " MD & A " ) for further details . Montreal , February 18 , 2021 - MTY Food Group Inc. ( " MTY " , " MTY Group " or the " Company " ) ( TSX : MTY ) , one of the largest franchisors and operators of multiple restaurant concepts worldwide , reported its results for the fourth quarter and year ended November 30 , 2020 . " 2020 was unquestionably marked by its share of challenges for MTY but the resilience of our franchisees , team and business model as well as the strong performance of our brands was affirmed and ultimately allowed us to achieve record levels of cash flow from operations and free cash flows . In light of the unique circumstances of the past year , we focused our capital allocation priorities on debt reduction , repaying a total of $ 109 million , shoring up our balance sheet and building a treasure chest for the future . Our ability to adapt was also showcased in our response to the rapid pandemic - induced consumer shift to online ordering and delivery . To this end , we expanded our third - party delivery partnerships and developed and further enhanced our brands ' online ordering platforms . There was a major acceleration in the proportion of sales generated digitally , which represented 22.5 % of system sales in the fourth quarter " stated Eric Lefebvre , Chief Executive Officer of MTY .