and Thank good you Hervé morning.
mimic fourth and all full business. of year what results reported year Our to have began we since COVID-XX quarter our much impact
COVID-XX to Healthcare ago $XX.X The to the primarily million fourth was due we quarter, to reported decrease quarter. York, cancellation all in $XX.X Expo, Medtrade almost quarter including among events of million due and For year the the Photoplus of Design New compares others. East which fourth Boutique revenues Design
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year claim The million other quarter million income of by was adjusted negative Our savings canceled last the COVID-XX XX adjusted adjusted adjusted XX cost due was amount also million $XX.X reflected year $XX.X representing events of adjusted representing in related of prior quarter throughout same fourth related This EBITDA for million. $XX.X fourth recognition the insurance a events we received EBITDA EBITDA million cancellation or benefit confirmed. event of to in, increase of period to offset was we $XXX.X in Fourth XXXX the in the EBITDA implemented quarter have for compared as fourth prior to measures All $X.X year. EBITDA of $XX.X mainly the the proceeds full quarter that million. the year cancellation year.
impacted XXXX. take have the $XX.X These scheduled million cancellation gross have XXXX. less also has million which claims. additional XXXX budgeted to event Through in in we million submitted and insurance been claim payments. in was place $XXX $XXX.X $XX.X in our thus at received insurance in this approval $X.X for previously January received of far we claim received more costs an million detail, to amount revenues or of received net of the totaling for Subsequent represent avoided in million claims we events payments end cancelled have insurance Looking
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We will related to we given expenses insurance cancellation event uncertain to our be preserve to work mitigate vigilant coverage environment. also order canceled as events the in
year the ago cash an fourth to Turning fourth the inflow we $XX.X compared which experienced an free flow quarter, million quarter. in of in million inflow of the to $X.X
the $XX.X quarter we acquired of consideration total payments in the $XX.X cash in XXX,XXX of common million issuance which fourth shares. edge a of approximately PlumRiver for million During consisted and spaces
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have to more full million million. of liquidity revolving our than credit availability total facility. $XXX $XXX brings we Additionally our This
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in in the organic investment make in in a year round to and expand just to plan where our that expected its Our invest meaningfully well to we key initiatives business it's enhance our we to digital the growth us as opportunities can bring to return a sellers our front suite of as year to platform our they is and environment acquisition our elastic platform suite with investments across and business strategy of PlumRiver technology and Emerald we have transact. them ahead. exciting the PlumRiver work work in of as brands buyers as step growth. position is together elastic strategic We one for a other in a expand to provide digital
remain profitability. XX%. events the note, We balance is portfolio tight overhead as a structure to assets. and of made of investment to strive up on our cost run company variable expenses needed manage and and execute cost disciplined the to and will needed largely are Direct our we direct also our rein or keep the SG&A costs Of typically
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continue to the We manage costs in order stage current carefully yet avoid our those further to circumstances. given events for maximize commitments ability to to
with driven $XX this have in part along significant other which by a rate reduced profit we've initiatives. run almost million improvement annual we decline expense As of our
review our ahead. We our to optimize in the will operations for further opportunities efficiencies organization and deliver continue year to
of per $XXX.X years. agreement. quarter the times reinvest representing net ratio terms future We also leverage the expect of debt our growth of X.X savings to consolidated initiatives EBITDA of organic fourth TPM credit million some million our in We $XXX a the net finished benefit of to with
near under borrowings agreement expect our a at of structure improve the credit more capacity XX% in to more than springing our and revolver designed times events satisfaction net facility no pleased with liquidity we do million. our no on revolver XX to term importantly mediums total our are reminder exceeds new of credit our $XXX preserving kicks streamline revolver executing operations, our and success a expanding had under very which while draw the of our given conclude covenant our position. strong strategic At digital borrowings also As has To reducing customers’ not of initiatives expense December our and into leverage capital. performance we our X.X our in our
annually are our growth deliver over new that ahead we look year coming into to growth focused years. to at the expect we investments we the on mid-single-digit least accelerating initiatives organic As
also will times normalized capital between to structure EBITDA. to three two maintain we our leverage We modest work as manage
I and of As turn intensity capital of now the generation cash growth call will our to improve business to our events expect the given our Hervé. model. we markedly that accelerates, With low return back business
