financial on highlights our slide with number Beginning Christian. you, X. Thank
with adjusted amount our our through collective value chain an model, double-digit During XXXX vertically in geographies, efforts business the invested initiatives. of we implemented growth cost integrated and our expanded facilities XXXX, reflects into in increasing capture new these savings and gross strategy sales, full true attractive our hit a metrics is to for each in record levels statement This ability of those our to year to markets. EBITDA, us execute XXXX. high-growth the in profit team's allowing
In margins. the on sales impacts fourth gross labor quarter, did see of temporary and tight we the U.S.
which will Aside good from the those moment. I out with labor dynamics, in year we closed discuss a momentum,
highlights last budget. facility X.Xx, hard-working balance investments such initiatives a This our completing down and position management, were pleased our generate successfully generate and these high-return ratio For allowing a strong operating completing on of cash of glass X.Xx flow net $XX of This the automation within the million account receivables. inventory joint control and tighter working million the year managing sheet automation planned to upgrades spent second our growth for with supports We on strength enhancements as very of initiatives. $XX our the float ended we strong cash leverage enhancing while for and teams venture. year, operational on and our free our time capacity with cash us mainly construction in that focus million, flow We year. capital the towards to capacity positive our year, from initiatives. through the geared previously majority We continued thank announced of $XX CapEx and
and methodology, José for to earlier portion cash call, the simplified In yield dividends a the structure, of new value line of existing our to regards a of revised with portion continued capital approximates cash to which that our shares. The discussed dilutive made in capital aggregate dividend eliminating have the of while our dividends our stock four of the peers. during return quarters allows shareholders dividend-paying most recent we impact in
capital the simplification our Colombian we December, planned Exchange. in structure, to Stock from our announced another As delisting
of our Our is move the listing to to our the and U.S. of the evolution exclusive on shareholder with base an business aligned movement NASDAQ
we time will multiple money and on save the associated exchanges. addition, with administrative requirements In
We delisting Colombian XXXX. expect end to complete of by the the
the X. on revenue number Slide drivers at of Looking
U.S. increased an $X invoicing starts reflected majority construction healthy $XXX.X million in Continued was the primarily U.S. quarter deferred projects, of which representing residential stronger key fourth outperformance the activity. sales invoicing. to delayed by and offset drove million. commercial X% growth, partially estimated The on This of commercial
mentioned temporary constraints labor experienced our were we delays amidst construction to earlier, customers commercial robust mainly activity. the overall due by As
where In Latin in grew America, X.X% we Colombia, and were revenues year-over-year XX.X% performance excluding FX. pleased with fourth better-than-expected quarter
approximately year, XX% building U.S. revenue. for the For an of U.S.-based business, mix to our of of our the continued increasing XX% our to group. representing average an This peer products compares mark total approximately
to a Looking Adjusted margin EBITDA the for adjusted XX; of $XX.X stable number of $XX.X representing margin for million, million, quarter fourth drivers on at XX.X%. adjusted increased Slide XXXX at full year the XX.X% the XX.X%. EBITDA was representing an adjusted EBITDA year-over-year of a record EBITDA
some XX.X% and profit the the a to in economic profit of related more gross costs. the in margin. attributable higher mainly is Gross strongest adversely of This representing costs, was quarter cost inventory earlier extent, are was to installation quarter, XX.X%. quarter margin context gross our a southeast, higher prior higher year gross the was the sub-contracting was the aluminum impact margin U.S. representing margin This million, purchased was a primarily in labor-intensive per impacted compared The aspects $XX.X year. in difference where here. modestly To fourth to provide I'll related by of for U.S. in our labor lesser $XX.X million recovery gross gross much which most the The pronounced business. to unit, revenues cost
side felt the aluminum The mainly residential impact the was on business. of
in prices supply the raw more flowing business While inventories for the moves aluminum material commercial of timing exposed lock to backlog, raw residential spot aluminum projects in we typically P&L. our in through faster-paced and is
ended we in and year-end, production quarter a the Despite will of any of these have fourth testing our As to other margin the implementation, higher-cost we finalize million our of these costs. impacts included the timely completion profit of of mitigate the through automation Gross of with $X.X quarter, year efficiency actions, initiatives, that high-return from in approximately facilities. anticipate projects labor nonrecurring savings at adverse the costs to We gross inventory. continuation also among our worked higher million. start-up a record XXXX aluminum $XXX.X automation during help full
revenues of we leverage with to a company-wide last XXX operating points by higher discussed as coupled improve shipping and fourth reflects ongoing revenue which the initiatives This and quarter. in on operating personnel handling SG&A, on to improved quarter. Our XX.X% expenses costs, basis percentage mainly year-over-year
mentioned. to operating reasons Our improved points just basis of full by to due expenses the I fourth sales year to XXX drivers quarter XX.X% similar
the Our highly talented to access efficient employees the favorable Colombia and relatively stable remained Overall, between mitigating strong have of U.S. to generate our manufacturing in impact continues reshipping the while results. us, temporary sustainable to dynamics margins generate and in a We see higher ability our trade costs for industry. on headwinds confident our given capacity the remain what we strong sales as
our We improve will to efficiency additional continue source reduce to cost base. and avenues
Looking for next markets us. construction at X is U.S. demand consumer rates activity dominate construction architectural our continues Slide low key end becoming on years, expected important an market for to number demand commercial glass spending our increasingly products to the sources. construction in business residential interest are and drive the third-party while to according Rising activity, XX. over
markets The international Architectural expansion for believe continue the generally key favorable side. above coming construction, outlook average. a a macro see the than further our faster positive commercial of on end-market We regions, XX in environment is grow years. Billing on will our to stable that in support Combined U.S. Index to we suggesting residential in with all the
structural exposure We into residential, range demand share allow broad competitive of a by that commercial us approach. our driven With largely share take to differences of the customers, high with decade. enhanced also very single-family we market, execution a proven maintaining expect value-added see a while our new and in quality-first to and upside new projects in significant to business be our capture in to rising both relationships U.S.
In X.X%. by Colombia, XX GDP growth in accelerated basis to points XXXX
outlook optimistic XXXX. Taking more account into prior as trends Colombia December. permits construction positive are with than maintaining we a of volatility, for these cautiously in Additionally, doubled
at continued Looking on XX. into residential Slide our expansion market the
In refer in expectations. segment we as entered residential commercial. reminder, our a business market, our as U.S. to surpass we rapid a continues medium single-family classify XXXX, high-rise all other and As growth sales, U.S. to our of residential business. single-family this the including We and condos,
macro to grew just revenues XX% XXXX our years factors to in an ago. potential residential U.S. residential in share compared U.S. of various and now previously. our capture XX% represents X discussed I ability Our additional significant see demand revenue, at due impressive the positive that X% to of We
investments high-return our to on Slide on number Moving XX.
demand production our As key aluminum This and glass our our aluminum aluminum of of fourth at we strong as customer products. capacity the end successfully to response completed includes initiatives. initiatives to planned. expansion the other midyear in of growth all quarter, and completed XXXX, several efficiency In high-return we operations facilities automate for
million As of investment. capital have deployed the of $XX we end our million total $XX of XXXX, anticipated
We be in and expect after spent the remaining complete. portion testing start-up is XXXX early to all
our the plant construction previously be in of expected glass float Saint-Gobain, in state-of-the-art, begin construction the announced In regards and to expected world-class venture joint Colombia XXXX. to second is to XXXX operational by with
advanced the administrative as planned. preconstruction get aspects have the the and on project permitting We to moving
additional of integrated be efficiencies the our by glass vertically encouraged supply. to expect expansion continue the float We through we gain to
full We top year in XX. anticipate XXXX bottom to growth Moving number Slide our line above-industry XXXX. and outlook on
to year, full million $XXX $XXX range to expect the a grow to of For revenues million. we
anticipate higher pronounced labor outlook with to assumes return costs, in together efficiencies, the represent expect of into and of from range high sales by new expect full this types, Based favorable of flow-through the We million geographic the we innovative offset be adjusted residential. anticipated we XXXX majority operating $XX to factors, the penetration will U.S. significant revenues million. which leverage expect further products, EBITDA the year of fueled impacts increasing and half to of in on project most these to on mix SG&A favorable growth, outlook $XXX first single-family be investments. This We revenues, and that expansion
some color on the provide first of quarter XXXX. I'll additional
of the expect with for This be factory in annual scheduled first and timing We our quarter U.S. smallest revenues seasonal maintenance line quarter is construction trends our typical to also January. EBITDA. major our and during the
In spike XXXX, unusually year have will we of the addition, even in in residential comparison due a the prior quarter a to timing the challenging orders. of invoicing first also first in strong quarter,
XXXX sales half as As mentioned, expect be are the revenues our of year. the through impacts in first and accelerate first mainly and a to year-over-year the we and move Accordingly, growth of lowest labor the quarter dynamic. we
our mention not that, I'll have point, any we impact direct due the coronavirus. seen business to this at on
XXXX Therefore, Based not chains That on backlog at outlook our addition, of for we epidemic updates the current not this our unfortunate are any stage potential to have do overlap will mindful continue virus this of do disruption move we our In any that the the material our into customers during supply may and potentially have monitor construction. time. of through cause schedule, said, any impact China. situation with the provide as we we incorporated year.
In in double-digit we another as we today's many positive EBITDA and positioned to call. year deliver well are believe the growth mentioned catalysts on adjusted we sales of summary, on capitalize
generate pipeline and and in confident on the opportunities of look additional our for We pursuing executing forward business in to multiyear are our project trajectory to XXXX attractive beyond. shareholders actively while our returns
Operator, questions. questions. open answer happy the be to your We please for will line
