AgroFresh SPAC Presentation Deck
2012-2014: Reconciliation of Non-GAAP Financial Measures
($ in millions)
29
(1)
(2)
(3)
(4)
(5)
US GAAP Net Sales (1)
Less adjustment for deferred income (²)
Foreign currency adjustment (³)
Pro Forma Net Sales (7)
US GAAP Net Income (1)
Provision for Income taxes (1)
Depreciation and Amortization (4)
Less adjustment for deferred income (²)
Discovery R&D project expense (5)
Adjustment for stand-alone run rate costs (6)
Foreign currency adjustment (³)
Pro Forma EBITDA (7)
GA
LA
$
LA
2012
128.4 $
(2.7)
(6.3)
119.4 $
13.2 $
16.3
30.8
(2.7)
6.4
(3.5)
(4.2)
56.3
$
LA
2013
158.8 $
(2.0)
(10.2)
146.6 $
27.5 $
25.1
30.8
(2.0)
7.1
(4.5)
(7.1)
76.9 $
Per the audited Combined Statements of Income and Comprehensive Income of The AgroFresh Business for the years ended December 31, 2014, 2013 and 2012.
Represents the elimination of deferred income which is contractually excluded from the Proposed Transaction pursuant to the Stock Purchase Agreement.
Represents an estimate to adjust the translation impact of the EURO and Australian Dollar to a constant currency basis of 1.10 EURO to USD and .75 AUS to USD.
Per the audited Combined Statements of Cash Flows of The AgroFresh Business for the years ended December 31, 2014, 2013 and 2012.
Represents an adjustment to add back expenses for certain R&D projects that are not expected to continue at current levels.
(6)
Reflects an adjustment to increase administrative and operational costs to the estimated stand-alone run rate of $7.7 million per year after the acquisition closes.
(7) Non-GAAP financial measure.
2014
180.5
(2.0)
(9.2)
169.3
27.9
41.4
30.4
(2.0)
5.8
(3.7)
(4.9)
94.9
A
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