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SVP, Communications and Corporate Development
AFFINION GROUP HOLDINGS, INC. ANNOUNCES RESULTS FOR THE FOURTH QUARTER
AND YEAR ENDED DECEMBER 31, 2017
GLOBAL LOYALTY FULL YEAR REVENUE INCREASES 35% YEAR OVER YEAR
STAMFORD, Conn., March 1, 2018 Affinion Group Holdings, Inc. (Affinion Holdings or the Company), a global leader in loyalty and customer engagement, announced today the financial results for the three- and twelve-month periods ended December 31, 2017 (the fourth quarter or quarter and full year, respectively).
|☐||Net revenues were $231.5 million in the fourth quarter of 2017 and $953.1 million for the full year.|
|☐||Income from operations was $37.0 million in the fourth quarter and $140.8 million for the full year.|
|☐||Adjusted EBITDA (as defined in Note (d) of Table 6) was $58.5 million in the fourth quarter and $235.2 million for the full year.|
During the fourth quarter, we saw solid results across our core businesses, highlighted by 23% revenue growth in our Global Loyalty segment and 7% Adjusted EBITDA growth in our core businesses, said Todd Siegel, the Companys Chief Executive Officer. Over the past year, we have positioned ourselves with a solid foundation for long-term success. We have capitalized on the positive momentum in the Global Loyalty segment, continued to make significant investments in our technology platform and data analytics capabilities, and simplified our capital structure and extended debt maturities.
For 2018, we are focused on continued growth in our core businesses, led by new client launches in our Global Loyalty segment and engagement solutions platform business, and continued solid performance in Insurance, continued Siegel. Given the positive trends we see in the marketplace, we anticipate continued earnings growth in our core businesses, as compared to 2017 results.
Notes: Adjusted EBITDA as referred to above excludes any pro forma impact of acquisitions and other actions. See Table 5 for a complete description of Adjusted EBITDA by segment and the related reconciliations to GAAP measures. See Table 6 for a complete description of Adjusted EBITDA and the related reconciliations to GAAP measures.
Fourth Quarter Net Revenues
|☐||Net revenues for the fourth quarter of 2017 decreased 0.4%, from $232.4 million in the fourth quarter of 2016 to $231.5 million. The decrease in overall net revenues was primarily due to the expected revenue declines in our non-core Legacy Membership and Package segment, mostly offset by higher Global Loyalty revenue.|
|☐||Net revenues for the three core business segments (Global Loyalty, Global Customer Engagement and Insurance Solutions) for the fourth quarter of 2017 increased 5.1%, from $191.5 million in the fourth quarter of 2016 to $201.3 million.|
|☐||Net revenues for the Legacy Membership and Package segment decreased 26.7%, from $41.2 million in the fourth quarter of 2016 to $30.2 million.|
The following information was filed by Affinion Group Holdings, Inc. (AFGR) on Thursday, March 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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