AgroFresh Results Presentation Deck
Key Cash Flow Items and Capital Structure Summary
$
Cash Flow from Operations
$3.0
$20.1
$26.7
$4.6
Cash Flow Items ($ million)
Cash Flow from Operations
Cash Flow from Investing
Capital Expenditures
Cash Flow from Financing
Effect of FX Changes on Cash
Ending Cash
$22.1
2020¹
$52.0
$27.4
$24.6
2018
2019
2021²
▪ Normalized Operating Cash Flow Non-recurring Items
1H 2022 1H 2021 Change
$4.33 $30.94 ($26.6)
($1.7)
($1.7) ($1.3) ($0.4)
($1.3)
($0.4)
($8.8)5 ($22.0)6
$13.2
($4.3) ($0.9)
$51.5
$56.7
($3.4)
($5.2)
(1) FY 2020 non-recurring items include $1.6 million litigation recovery and $3.0 million of grant income
(2) FY 2021 non-recurring items include litigation settlement proceeds of $14.4 million, extraordinary improvements in accounts receivable and inventory
of approximately $9 million, and an approximate $4 million reduction in interest expense from refinancing.
(3) Reflects working capital improvements in accounts receivables partially offset by strategic supply chain sourcing
(4) Includes litigation settlement proceeds of $14.4 million and working capital improvement of approximately $12.7 million
(5) Includes $7.3 million of cash dividend on PSP convertible preferred shares and $1.6 million debt paydown
(6) Includes $6.1 million of cash dividend on PSP convertible preferred shares, $10.7 million debt paydown and $5.3 million redemption of PSP shares
(7) LTM, as of 6/30/22; see GAAP to Non-GAAP schedule in appendix of this presentation for a reconciliation of Adjusted EBITDA to net (loss) income
Capital Structure
Net debt-to-
adjusted
EBITDA7 ratio of
3.3x
Undrawn $25
million revolver
Cash
Capital Structure ($ million)
Market Capitaliz
ion
Gross Debt
Net Debt
Completed
comprehensive
refinancing on
July 27, 2020
Preferred Equity
Minority Interest
Enterprise Value
Convertible preferred equity investment
by Paine Schwartz Partners
MM shares
Term loan maturity
extended to
December
31, 2024
$1.79)
06/30/22
$94.3
$51.5
$262.3
$210.8
$166.6
$7.4
$479.1
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