MDC Partners reported a slight decrease in revenue but showed significant improvements in key metrics, including a return to organic growth of 2% and a substantial increase in Adjusted EBITDA by 84.3%. The company's strategic plan and cost-saving initiatives contributed to these improvements.
Returned to organic revenue growth of 2%.
Adjusted EBITDA nearly doubled, increasing by 84.3%.
Adjusted EBITDA margin increased by 560 basis points to 12.1%.
Net loss attributable to MDC Partners common shareholders improved slightly to $2.4 million.
Given the uncertainties in the global business environment arising from the COVID-19 pandemic, the Company is not providing a 2020 outlook for Revenue and Covenant EBITDA at this time.
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