AMG Packaging & Paper Company Ltd (AMG) has released their August 2020 (Q4) numbers. Here are the highlights.
This Quarter (2020Q4) vs Same Quarter Last Year
Revenue of $186.95m vs $174.68m (7.02%)
Slight uptick in sales for the 3 months ending August. Management also managed to contain the increase in manufacturing costs resulting in higher gross profits for the quarter
Net Income / Net Loss totaled $18.22m vs $23.25m (-21.62%)
Expenses are in line with the prior year, however management is seeing less ‘Other Income’ this quarter, to boost the profits. Last year Other Income amounted to $13m vs $2m this year. Foreign Exchange differences arising on transactions are recognised as “Other Income”.
Year To Date (2020Q4)
Revenue of $720.45m. Down by -5.49% or -41.85m YTD YoY.
Management attributes this to falling sales due to slowdown in the economy from COVID-19. (It would have had to be in prior quarters)
Net Income / Net Loss totaled $56.02m. Declining by -5.27% or -3.12m YTD YoY.
Despite higher gross profits, the company faced increased Operating expenses YTD (specifically Financial costs +$4m, FX Loss +$3m, Depreciation +$3m). Additionally Other Income is down -$10m YTD. The company has increased finance costs relating to a $100m Bond issued this year maturing in 2026 at a Fixed rate of 7.20%
Cash Flow From Operating Activities of $155.31m. Up by 52.67% or 53.58m YTD YoY.
Strong cash flow from operating activities, which gives AMG ample liquidity during COVID.
This is just a summary. For more charts, ratios and other details visit AMG’s page here
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