Sotheby’s Financial Condition
Here at Signature Sotheby’s we are pleased to announce that yesterday Sotheby’s parent company Realogy released its financial and operating results for the full year 2008.
- In 2008, Realogy produced $411 million of earnings before interest, taxes, depreciation and amortization (EBITDA) after adjusting out non-cash impairment charges along with non-operating merger and legacy costs as well as restructuring charges.
- Realogy generated $109 million in cash from operations in 2008, and this amount is after paying interest expense.
- Realogy has full access to up to $750 million of total borrowings under its revolving credit facility, which does not mature until 2013.
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