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Source : MTY Food Group Inc. Contacts : GROUPE MTY GROUP Eric Lefebvre , CPA , CA , MBA Chief Executive Officer Tel : ( 514 ) 336-8885 ir@mtygroup.com Pierre Boucher , CPA , CMA Jennifer McCaughey , CFA Maison Brison Communications Tel : ( 514 ) 731-0000 PRESS RELEASE FOR IMMEDIATE PUBLICATION MTY REPORTS FIRST QUARTER 2021 RESULTS • Free cash flows ( 1 ) per diluted share decreased by 1 % compared to Q1-20 to reach $ 1.23 . • • • • • Cash flows from operating activities of $ 31.3 million , up by 1 % compared to Q1-20 , despite duration of COVID - 19 pandemic . Adjusted EBITDA ( 1 ) of $ 32.6 million in the quarter , down 20 % compared to Q1-20 . US & International segment adjusted organic EBITDA growth of $ 4.7 million . Net income attributable to shareholders of $ 13.4 million in the quarter , or $ 0.54 per share , down from $ 19.0 million , or $ 0.76 per share , in Q1-20 . Long - term debt repayments of $ 29.1 million for the quarter . System sales ( 1 ) of $ 761.1 million , down 24 % compared to Q1-20 . System sales down 48 % in Canada , 4 % in US and 32 % Internationally . Excluding impact of foreign exchange , US system sales generated positive organic growth for a second quarter in a row . First quarter digital sales ( 1 ) represent 31 % and 29 % of total system sales for Canada and the US , respectively in the quarter compared to 5 % and 14 % in Q1-20 . • 338 restaurants were temporarily closed at the beginning of the quarter with 321 still temporarily closed at quarter • • end . 302 remain temporarily closed as at the date of this press release , which represents less than 5 % of the network . 1,705 locations were closed one or more days during the quarter , representing 57,100 lost business days . Management initiatives resulting in a reduction of recurring controllable expenses of $ 6.3 million when compared to Q1-20 . ( 1 ) This is a non - GAAP measure . Please refer to the " Non - GAAP Measures " section at the end of this press release . Montreal , April 9 , 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 first quarter ended February 28 , 2021 . " The first quarter of our 2021 fiscal year was marked by unprecedented restrictions imposed on our business in Quebec and Ontario that lasted for most of the period while our US business benefitted from the gradual lifting of restrictions in the United States . Considering those circumstances , we are pleased with our first quarter results . Our capacity to rapidly adapt is well reflected in the proportion of our network's system sales coming from digital channels , which is sequentially up compared to the quarter ended November 30 , 2020. Cash flows from operations remained solid at $ 31 million , stable versus last year . With $ 29 million in long - term debt repayments during the quarter , our total repayments since the beginning of the pandemic have now reached close to $ 130 million , bringing MTY's leverage to a level that is lower than most of its peers in North America , " stated Eric Lefebvre , Chief Executive Officer of MTY . " With evolving COVID - 19 government restrictions , our system sales remained under pressure and adjusted EBITDA decreased by 20 % to $ 32.6 million . For the quarter , MTY's network was impacted by over 57,000 of lost business days , which was almost twice the number reported for the fourth quarter . This quarter again , Cold Stone Creamery and Papa