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All debts Retired Wow!

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Apollo Healthcare Corp. Reports Third Quarter of 2020 Results

Thursday, November 5, 2020, 5:21 PM ET

 

TORONTO--(BUSINESS WIRE)--November 05, 2020-- 
Apollo Healthcare Corp. (formerly Acasta Enterprises Inc.) (TSX: AHC) ("Apollo" or the "Company") today announced financial results for the quarter ended September 30, 2020. 
The Company's unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2020, as well as its accompanying management discussion and analysis (MD&A) have been filed on SEDAR. Copies of the filings may be obtained at www.sedar.com. All values in this news release and the Company's financial disclosures are in Canadian dollars unless otherwise stated. 
Financial Highlights 
-- Revenues for the third quarter of 2020 were $90.1 million and $234.5 
million year to date compared with $43.4 million and $125.4 million in 
the comparative 2019 periods. The higher revenue is the result of higher 
volumes sold of the Company's products. 

-- EBITDA for the third quarter of 2020 was $31.1 million and $69.6 million 
year to date compared with EBITDA of $3.5 million and $13 million in the 
comparative 2019 periods. The improved results reflect higher volumes 
sold of the Company's products. 

-- Adjusted EBITDA for the third quarter of 2020 was $31 million and $64.9 
million year to date compared with adjusted EBITDA of $3.8 million and 
$10.5 million in the comparative 2019 periods. Adjusted EBITDA removes 
the effects of foreign exchange, changes in fair value of financial 
instruments and impairment charges. 

-- On August 12 2020, the Company changed its name to Apollo Healthcare 
Corp. and carries on business under the trade name Apollo Health and 
Beauty Care. 

-- The Company retired all debt during the nine months ended September 30, 
2020. The Company has access to a $50 million revolver from its 
commercial bank should it require additional liquidity. 
Please refer to Apollo's MD&A for additional detail and discussion on the Company's results from operations. 
Advisories: