Velan Investor Presentation Q1 F2024
NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES
Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")
(in millions of USD)
Q2
2019
Q3
2020
2021
2022
2023
2024
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Net income (loss)1
(2.4) (0.2) 1.5
(5.8)
1.4
(0.8) (11.1) (1.9)
(5.1) 9.5
0.3
(5.1)
5.0
4.5 (25.6)
(7.4)
(3.7) 2.7 (47.2) (8.3)
Depreciation of property, plant and equipment
Amortization of intangible assets and financing costs
2.9
2.6
3.5
2.6
2.6
2.9
2.8
2.5
2.5
2.5
2.6
2.4
2.4
2.4
2.4
2.2
0.4
0.4
0.7
0.4
0.5
0.5
0.7
0.6
0.6
0.7
0.7
0.7
0.5
0.6
0.8
0.6
06
20
2.0
2.1
2.5
2.1
0.6
0.6
0.6
0.5
Finance costs - net
0.6
0.1
0.0
0.3
(0.2)
0.7
0.5
0.3
0.0
0.2
0.3
0.5
0.5
0.6
0.7
0.2
0.4
0.4
0.5
1.2
Income taxes
(0.1)
0.5
(1.9)
(1.8)
0.9
(0.4) 9.9
1.1
(0.5) 0.9
(2.3) 0.6
2.3
5.2
38.3
1.5
2.1
0.3
4.1
0.7
Adjustment to legal provision
56.0
Adjusted EBITDA
1.4
3.4
3.8
(4.3)
5.2
2.9
2.8
2.6
(2.5)
13.8
1.6 (0.9) 10.7
13.3 16.6 (2.9) 1.4
6.1
16.5 (3.8)
The term "EBITDA" is defined as net income or loss attributable to Subordinate and Multiple Voting Shares plus depreciation of property, plant & equipment, plus amortization of intangible assets and
financing costs, plus net finance costs plus income tax provision. The terms "EBITDA per share" is obtained by dividing EBITDA by the total amount of subordinate and multiple voting shares. The
forward-looking statements contained in this investor presentation are expressly qualified by this cautionary statement.
Definitions of supplementary financial measures
The term "Net new orders" or "bookings" is defined as firm orders, net of cancellations, recorded by the Company during a period. Bookings are impacted by the fluctuation of foreign exchange rates
for a given period. The measure provides an indication of the Company's sales operation performance for a given period as well as well as an expectation of future sales and cash flows to be
achieved on these orders.
The term "backlog" is defined as the buildup of all outstanding bookings to be delivered by the Company. The Company's backlog is impacted by the fluctuation of foreign exchange rates for a given
period. The measure provides an indication of the future operational challenges of the Company as well as an expectation of future sales and cash flows to be achieved on these orders.
The term "book-to-bill" is obtained by dividing bookings by sales. The measure provides an indication of the Company's performance and outlook for a given period.
The forward-looking statements contained in this investor presentation are expressly qualified by this cautionary statement.
1 Net income or loss refer to net income or loss attributable to Subordinate and Multiple Voting Shares
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