OnesSpaWorld SPAC
SUMMARY FINANCIALS
Financial Overview
$M
Revenue
At Sea¹
On Land
Total Revenue
EBIT
Interest (Expense) / Income²
Other Income / (Expense)
Cash Taxes
Net Income
(-) Incremental Public Company Costs
(+) Atlantis Adjustment³
(+) Amortization of Intangibles
Pro Forma Adj. Net Income
Average Weekly Revenue per Ship5
Average Ships
Bridge to Levered Free Cash Flow
$M
Adj. Net Income
(+) Depreciation & Amortization
(-) Increase in Net Working Capital
(-) Maintenance Capex
(-) Growth Capex
(-) One-Time Resort Spa Capex
Free Cash Flow
2015A
3.
$ 403.0
$50.0
$ 453.0
$41.4
$ 0.0
$(1.5)
$39.9
$(2.8)
$ 0.4
$ 37.5
$51,721
147
2016A
$ 429.1
$47.2
$ 476.3
1. Includes revenue from Timetospa.com.
2.
Includes amortization of financing fees. 2018 interest expense pro forma for a full year of debt
with no paydown. 2019 and 2020 assume 100% sweep to free cash flow.
Addback of lost net income due to planned renovation of Atlantis facility in 2019.
$41.2
$ 0.3
$(0.2)
$(4.9)
$36.5
$(2.8)
$3.4
$ 37.1
$53,741
151
For the Fiscal Year Ended December 31,
2017A
2018
$ 462.6
$44.1
$ 506.7
$44.9
$(4.6)
5.
6.
$40.3
$(2.8)
$ 3.4
$40.9
$56,999
154
$490.1
$45.1
$535.2
$ 47.5
$(20.9)
$(0.5)
$26.1
$(2.8)
$3.4
$26.7
FOR
$59,414
156
For the Fiscal Year Ended December 31,
2018
$ 26.7
$8.5
$(1.9)
$(1.5)
$(4.0)
$(5.8)
$ 22.1
ONESPAWORLD
AT SEA. ON LAND.
2019
$ 529.0
$44.1
$573.1
$ 52.1
$(20.5)
$(0.6)
$ 31.0
$(2.8)
$1.5
$3.4
$ 33.0
$61,838
162
2019
$ 33.0
$8.3
$(2.8)
$(1.0)
$(1.8)
$(8.4)
$ 27.3
2020
$ 618.7
$ 49.7
$ 668.4
$ 68.6
$(18.7)
$(0.9)
$ 49.0
$(3.0)
$ 3.4
$ 49.3
$63,622
184
2020
$49.3
$9.2
$(5.7)
$(2.1)
$(2.7)
$(0.2)
$ 47.9
4. Tax-effected value of amortization of intangibles recognized when L Catterton acquired
Steiner Leisure in 2015.
Excludes revenue from Timetospa.com.
Excludes amortization of intangibles and includes amortization of financing fees.
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