Cazoo Results Presentation Deck
Adjusted EBITDA reconciliation
(Unaudited)
Loss for the year
Loss for the year from discontinued operations
Loss for the year from continuing operations
Adjustments:
Tax credit
Finance income
Finance expense
Depreciation
Amortization and impairment of intangible assets¹
Share-based payments
IFRS 2 expense on the Listing (non-cash)
Fair value movement in instruments
Exceptional items²
Total adjustments
Adjusted EBITDA³
YE-22 YE-21
£ m £m
(704) (544)
186
14
(518) (529)
(7)
(2)
53
45
319
44
Comments
Larger loss due to lower gross profit and restructuring
Decision made in 2022 to withdraw from EU
(2)
(0)
5 Higher due to issuance of Convertible Notes in February 2022
26
36 Includes non-cash impairment of £299m following the Revised Business Plans
44
241
(194)
(27) Includes Convertible Notes and embedded derivative, warrants and foreign exchange
7
39 Primarily restructuring costs in 2022; listing-related fees in 2021
264
362
(254) (168) Larger loss due to lower gross profit and investment in growth
¹ Amortization and impairment of intangible assets includes a non-cash impairment charge of £299 million largely related to actions taken in the Group's Revised Business Plans.
2 Exceptional items of £7 million include restructuring costs of £6 million with the remainder primarily related to transaction costs incurred on the acquisition of brumbrum.
3 "Adjusted EBITDA" is defined as loss for the year from continuing operations adjusted for tax, finance income, finance expense, depreciation, amortization and impairment of intangible assets, share-based payment expense, fair value movement in Convertible Notes and embedded derivative, fair value movement in
warrants and foreign exchange movements, and exceptional items which do not relate to our underlying operations.
CAZOO
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