Aimia Reports Third Quarter 2019 Results

MONTREAL, Oct. 28, 2019 /PRNewswire/ - Aimia Inc. (TSX: AIM) today reported its financial results for the quarter ended September 30, 2019. During the quarter, the company delivered on improved financial performance from continuing operations highlighted by:

Positive EPS from continuing operations, up $0.12 to $0.11 per share

Substantial improvement in Q3 2019 Free Cash Flow generation, up 95% QoQ and improved 73% YoY to $(3.1) million

Operating expenses down 16% YoY to $42.2 million from cost transformation

Operating loss narrowed, improving by 25% YoY to $(12.1) million

Adjusted EBITDA loss narrowed, improving by 39% YoY to $(4.4) million

The company has sold its entire stake in Cardlytics (including 1.3 million shares sold after September 30th) for net proceeds of $131.5 million. Chief Executive Officer, Jeremy Rabe, commented on the improved performance of the company: "As demonstrated by our third quarter results, including the positive EBITDA for the Loyalty Solutions business, the company is making meaningful progress enhancing our current business and investments. We are building a stronger company and our cost transformation plans are improving operations and financial performance. We remain on track to deliver profitability and substantially improving free cash flow during 2020."Mr. Rabe continued: "We are pleased with Aimia's strong assets and solid prospects to accelerate the company's growth through a combination of organic growth and sector-focused M&A as a leading consolidator in the vast and growing loyalty and travel markets." Q3 2019 financial highlights a?? continuing operations(2), unless otherwise noted:
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