FY23 Financial Performance and Market Strategy
EBITDA & NPAT RECONCILIATION
Significant Items excluded from underlying results:
Business Transformation: costs relating to program pre-
implementation, design and costs associated with
postponement
Gain on assignment of lease: Comprises reversal of
prior impairment and recognition of outstanding lease
obligation in relation to Cleveland lease assignment
$M
INGHAM'S
Always Good
FY23
FY22
Var
%
EBITDA
418.5
370.4
48.1
13.0
Restructuring
1.5
3.4
(1.9)
(55.9)
Reversal of lease impairment
0.0
(3.1)
3.1
NM
Business Transformation
16.7
10.1
6.6
65.3
Property Reassignment
(3.0)
0.0
(3.0)
NM
Excluded from Underlying
15.2
10.4
4.8
46.2
Underlying EBITDA
AASB 16 adjustments
433.7
380.8
52.9
13.9
(250.1)
(245.6)
(4.5)
1.8
Underlying EBITDA pre AASB 16
183.6
135.2
48.4
35.8
$M
FY23
FY22
Var
%
NPAT
60.4
35.1
25.3
72.1
Restructuring
1.1
2.5
(1.4)
(56.0)
Reversal of lease impairment
0.0
(2.2)
2.2
NM
Business Transformation
11.7
7.0
4.7
67.1
Property Reassignment
(2.1)
0.0
(2.1)
NM
Excluded from Underlying
10.7
7.3
3.4
46.6
Underlying NPAT
71.1
42.4
28.7
67.7
AASB 16 adjustments
12.1
14.7
(2.6)
(17.7)
Underlying NPAT pre AASB 16
83.2
57.1
26.1
45.7
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