High Liner Foods Acquisition and Financial History
Debt Leverage Ratio
Net Debt✶ to Trailing 12-Month Adjusted EBITDA*
Net Debt Times Adjusted EBITDA
6.0
5.9x
5.8x
4.0
2.0
0.0
End of Fiscal 2018
End of Fiscal 2019
4.1x
End of Fiscal 2020
3.0x
End of Fiscal 2021
3.7x
Target (3.0x)
3.1x
End of Fiscal 2022
*Please refer to the Company's MD&A for Q3 2023 for the definition of non-IFRS financial measures "Net Debt" and "Adjusted EBITDA"
End of Q2 2023
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Net Debt to Rolling Twelve-Month Adjusted EBITDA* was 3.3x at July 1, 2023 compared to 3.7x at the end of Fiscal 2022 and 3.0x at July 2, 2022. This ratio
increased during the second half of Fiscal 2022 due to increased investment in inventory
In the absence of any major acquisitions or unplanned capital expenditures in 2023, we expect this ratio to be in line with the Company's long-term target of 3.0x
at the end of Fiscal 2023.View entire presentation