Quad/Graphics(US:QUAD)2025-06-23 15:05Financial Performance - Full-year 2016 net sales were $4330 million, compared to $4597 million in 2015[5, 11] - Full-year 2016 Adjusted EBITDA was $480 million, up from $469 million in 2015, with an Adjusted EBITDA Margin of 111% versus 102%[4, 11] - Full-year 2016 Free Cash Flow was $246 million, an increase of $31 million or 14% compared to $215 million in 2015[4, 13] - The company's debt leverage ratio improved to 236x at the end of 2016, compared to 288x at the end of 2015[4, 16, 32] - Fourth-quarter 2016 net sales were $1198 million, compared to $1314 million in 2015[11] - Fourth-quarter 2016 Adjusted EBITDA was $140 million, compared to $154 million in 2015, with an Adjusted EBITDA Margin of 117% for both periods[11, 29] Debt and Capital Structure - The company has paid down $10 billion in debt and pension obligations since July 2010[17] - The company extended maturities by two years on its Revolving Credit Facility ($725 million due January 2021) and Term Loan A ($375 million due January 2021)[19, 20] - The company effectively converted $250 million of variable-rate debt to a fixed rate of 39%[20] 2017 Guidance - The company expects 2017 net sales to be in the range of $41 billion to $43 billion[21] - The company expects 2017 Adjusted EBITDA to be in the range of $440 million to $480 million[21] - The company expects 2017 Free Cash Flow to be in the range of $225 million to $275 million[21]