Investor Presentaiton
Non-GAAP Measures
APPENDIX
The Company's results are determined in accordance with U.S. generally accepted accounting principles (GAAP). Certain information
presented in this press release reflects adjustments to GAAP measures such as amounts related to restructuring, asset impairment
and other (credits) charges, net, gain on disposal of property, plant and equipment, net, other product-related charges and certain
other non-recurring items, if any. These adjustments result in non-GAAP financial measures and are referred to in this press release as
Adjusted Gross profit, Adjusted Operating income, Adjusted FDP net income, and Adjusted Diluted EPS. Management believes these
adjustments provide a more comparable analysis of the underlying operating performance of the business.
This press release also includes non-GAAP measures such as EBITDA, Adjusted EBITDA, EBITDA margin, and Adjusted EBITDA margin.
EBITDA is defined as net income attributable to Fresh Del Monte Produce Inc. excluding interest expense, net, provision for income
taxes, depreciation and amortization, and share-based compensation expense. Adjusted EBITDA represents EBITDA with additional
adjustments for non-recurring items. EBITDA margin represents EBITDA as a percentage of net sales, and adjusted EBITDA margin
represents adjusted EBITDA as a percentage of net sales.
Adjusted Gross profit, Adjusted Operating income, Adjusted FDP net income, and Adjusted EBITDA provide the Company with an
understanding of the results from the primary operations of its business. The Company uses these metrics because management
believes they provide more comparable measures to evaluate period-over-period operating performance since they exclude special
items that are not indicative of the Company's core business or operations. These measures may be useful to an investor in evaluating
the underlying operating performance of the Company's business because these measures:
1. Are used by investors to measure a company's comparable operating performance;
2. Are financial measurements that are used by lenders and other parties to evaluate creditworthiness; and
3. Are used by the Company's management for various purposes, including as measures of performance of its operating entities, as a
basis of strategic planning and forecasting, and in certain cases as a basis for incentive compensation.
Because all companies do not use identical calculations, the Company's presentation of these non-GAAP financial measures may not
be comparable to similarly titled measures used by other companies. Reconciliations of non-GAAP financial measures to the most
directly comparable GAAP financial measures are provided in the financial tables that accompany this release.
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