Advanced Drainage Systems Inc Annual Shareholders Meeting Transcript
Good morning and welcome to the Advanced Drainage Systems, Inc. Annual Meeting of Stockholders. I would now like to turn the meeting over to D. Scott Barbour, President and CEO. Please go ahead.
Thank you. Good morning, ladies and gentlemen. The meeting will now come to order. It is a pleasure to welcome you to this Annual Meeting of Stockholders of Advanced Drainage Systems, Inc. I am Scott Barbour, President and CEO of Advanced Drainage Systems, Inc.
Fiscal 2020 was a transformative year for Advanced Drainage Systems. We achieved record financial performance with sales of $1.67 billion, an increase of 20% over prior year; adjusted EBITDA of $362 million, an increase of 56% over the prior year; and free cash flow of $239 million, an increase of 121% over prior year. This performance enabled us to execute with our Board of Directors, several important initiatives in FY '20. Returning in dividends over $100 million to shareholders in FY '20, which brought our total
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