Alimentation Couche-Tard Investor Presentation
The table below reconciles revenues and cost of sales, excluding depreciation, amortization and impairment, as per IFRS, to
gross profit:
NON-IFRS MEASURES
Gross profit. Gross profit consists of revenues less the cost of sales, excluding depreciation, amortization and impairment. This Adjusted net earnings and adjusted diluted net earnings per share. Adjusted net earnings represents net earnings adjusted for
measure is considered useful for evaluating the underlying performance of our operations.
net foreign exchange gains or losses, acquisition costs, the impact from changes in accounting policies and adoption of
accounting standards, impairment on goodwill, investments in subsidiaries, joint ventures and associated companies as well
as other specific items for which the impact on consolidated results is not deemed indicative of future trends. These measures
are considered useful for evaluating the underlying performance of our operations on a comparable basis.
13 week period
12-week period
53-week period
52-week period
The table below reconciles net earnings, as per IFRS, with adjusted net earnings and adjusted diluted net earnings per share:
ended
(in millions of US dollars)
Revenues
April 30, 2023
16,264.4
Cost of sales, excluding depreciation, amortization and impairment
Gross profit
13,355.8
2.908.6
ended
April 24, 2022
16,434.9
13,877.9
2,557.0
ended
April 30, 2023
ended
71.856.7
59.804.6
12.052.1
April 24, 2022
62,809.9
51.805.1
11,004.8
(in millions of US dollars, except per share amounts, or unless otherwise noted)
Net earnings
Adjusted for:
13-week period
ended
April 30, 2023
670.7
12-week period
ended
April 24, 2022
477.7
53-week period
ended
April 30, 2023
3,090.9
52-week period
ended
April 24, 2022
2,683.3
Loss on convertible promissory notes recorded at fair value through
earnings or loss prior to their maturity
Please note that the same reconciliation applies in the determination of gross profit by category and by geography.
Earnings before interest, taxes, depreciation, amortization and impairment ("EBITDA") and adjusted EBITDA. EBITDA
represents net earnings plus income taxes, net financial expenses, and depreciation, amortization and impairment. Adjusted
EBITDA represents the EBITDA adjusted for acquisition costs, the impact from changes in accounting policies and adoption of
accounting standards as well as other specific items for which the impact on consolidated results is not deemed indicative of
future trends. These performance measures are considered useful to facilitate the evaluation of our ongoing operations and
our ability to generate cash flows to fund our cash requirements, including our capital expenditures program, share
repurchases, and payment of dividends.
The tables below reconcile net earnings, as per IFRS, to EBITDA and adjusted EBITDA:
(in millions of US dollars)
Acquisition costs
Net foreign exchange (gain) loss
26.4
26.4
4.5
0.9
13.7
6.7
(0.4)
(3.0)
0.7
(20.7)
Impairment of our investment in Fire & Flower
33.7
23.9
33.7
Impairment and impact of deconsolidation of Russian subsidiaries
Cloud computing transition adjustment
56.2
56.2
15.1
15.1
Gain on disposal of properties
Impact of the redemption notice of senior unsecured notes
Tax impact of the items above and rounding
Adjusted net earnings
13 week period
ended
April 30, 2023
12-week period
ended
April 24, 2022
670.7
477.7
53-week period
ended
April 30, 2023
3.090.9
52-week period
ended
April 24, 2022
2,683.3
Weighted average number of shares - diluted (in millions)
Adjusted diluted net earnings per share
(3.2)
(7.6)
(3.6)
(4.3)
698.0
573.0
3.152.0
2.770.0
985.4
1,046.1
0.71
0.55
1,009.5
3.12
1,063.5
2.60
Net eamings
Add:
Income taxes
159.6
139.2
838.2
734.3
Net financial expenses
99.0
51.5
306.7
Depreciation, amortization and impairment
389.6
449.4
EBITDA
1,318.9
1,117.8
1,525.9
5.761.7
281.0
1.545.7
5.244.3
Adjusted for:
Acquisition costs
Cloud computing transition adjustment
4.5
0.9
15.1
13.7
6.7
15.1
Gain on disposal of properties
Adjusted EBITDA
Alimentation Couche-Tard | Investor Presentation
1.323.4
1,133.8
5,775.4
5,266.1
62
3
CIRCLE K
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