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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 MaisonBrison Communications Tel : ( 514 ) 731-0000 PRESS RELEASE FOR IMMEDIATE PUBLICATION MTY REPORTS THIRD QUARTER 2021 RESULTS Adjusted EBITDA ( 1 ) of $ 49.7 million in the quarter , compared to $ 43.4 million in Q3-20 . Cash flows from operating activities of $ 46.6 million , up by 21 % compared to Q3-20 , despite duration of COVID - 19 pandemic . Free cash flows per diluted share ( ² ) increased by 23 % compared to Q3-20 to reach $ 1.84 , in part due to higher adjusted EBITDA . Net income attributable to shareholders of $ 24.3 million in the quarter , or $ 0.98 per diluted share , up from a net income attributable to shareholders of $ 22.9 million , or $ 0.93 per diluted share , in Q3-20 . Long - term debt repayments of $ 35.2 million for the quarter . System sales ( ³ ) of $ 1,016.2 million , up 13 % compared to Q3-20 . System sales up 29 % in Canada , 5 % in the US and 7 % Internationally . Third quarter digital sales ( ³ ) represent 16 % and 21 % of total system sales for Canada and the US , respectively compared to 15 % and 25 % in Q3-20 . 359 restaurants were temporarily closed at the beginning of the quarter and 164 at the end of the quarter . 139 remain temporarily closed as at the date of this press release . 456 locations were closed one or more days during the quarter , representing approximately 19,300 lost business days . Quarterly dividend restored with payment of $ 0.185 per re on August 13 , 2021 . ( 1 ) This is a non - GAAP measure . Please refer to the " Non - GAAP Measures " section at the end of this press release . ( 2 ) This is a non - GAAP ratio . Please refer to " Non - GAAP Ratios " section at the end of this press release . ( 3 ) This is a supplementary financial measure . Please refer to " Supplementary financial measures " section at the end of this press release . Montreal , October 8 , 2021 - MTY Food Group Inc. ( " MTY " , " MTY Group " or the " Company " ) ( TSX : MTY ) , franchisors and operators of multiple restaurant concepts worldwide , reported today its results for the third quarter ended August 31 , 2021 . " We are highly encouraged by our financial results in the third quarter of 2021 , which was marked by solid double - digit percentage increases in system sales ( + 13 % ) , adjusted EBITDA ( + 15 % ) and cash flows from operating activities ( + 21 % ) , " stated Eric Lefebvre , Chief Executive Officer of MTY . " This strong financial performance reflects a rebound in customer traffic for many of our brands . It was realized in a difficult context of lingering supply - chain issues , labour shortages and the continuing impact of the COVID - 19 pandemic , as shown by the business days lost due to temporary closures ( 19,300 ) . " " On the strength of record free cash flows , an improved financial situation , and a positive outlook for our business , we now have more options in terms of our capital allocation strategy , " Mr. Lefebvre added . " During the third quarter , we lowered our long - term debt by an additional $ 35.2 million in repayments , restored our quarterly dividend with a payment of $ 0.185 per share and renewed our NCIB share buyback program . Looking ahead , our long - term strategic plan