Tecnoglass (TGLS) Investor Presentation
Non-GAAP Reconciliation
Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation
Figures in U.S. $k
Three months ended
Mar 31,
2023
2022
Net (loss) income
Less: Income (loss) attributable to non-controlling interest
48,372
(137)
20,953
(100)
(Loss) Income attributable to parent
48,235
20,853
Foreign currency transactions losses (gains)
1,100
2,909
Non Recurring expenses (non-recurring profesional fees, capital market fees, provision for bad debt,
other non-core ítems)
3,275
3,487
Joint Venture VA (Saint Gobain) adjustments
435
36
Tax impact of adjustments at statutory rate
(1,539)
(1,930)
Adjusted net (loss) income
51,506
25,355
Basic income (loss) per share
1.01
0.44
Diluted income (loss) per share
1.01
0.44
Diluted Adjusted net income (loss) per share
1.08
0.53
Diluted Weighted Average Common Shares Outstanding in thousands
Basic weighted average common shares outstanding in thousands
Diluted weighted average common shares outstanding in thousands
47,675
47,675
47,675
47,675
47,675
47,675
Three months ended
Mar 31,
2023
2022
Net (loss) income
48,372
Less: Income (loss) attributable to non-controlling interest
(137)
20,953
(100)
(Loss) Income attributable to parent
48,235
20,853
Interest expense and deferred cost of financing
2,273
1,468
Income tax (benefit) provision
24,671
10,558
Depreciation & amortization
4,767
5,251
Foreign currency transactions losses (gains).
1,100
2,909
Non Recurring expenses (non-recurring profesional fees, capital market fees, provision for bad debt,
other non-core ítems)
3,275
3,487
Joint Venture VA (Saint Gobain) EBITDA adjustments
Adjusted EBITDA
1,515
825
85,836
45,351
Notes:
1. Adjusted EBITDA, Adjusted EBIT and Adjusted Net Income are not measures of financial performance under generally accepted accounting principles ("GAAP"). Management believes Adjusted EBITDA, Adjusted EBIT
and Adjusted Net Income, in addition to operating profit, net income and other GAAP measures, is useful to investors to evaluate the Company's results because it excludes certain items that are not directly related to the
Company's core operating performance. Investors should recognize that Adjusted EBITDA, Adjusted EBIT and Adjusted Net Income might not be comparable to similarly-titled measures of other companies. These measures
should be considered in addition to, and not as a substitute for or superior to, any measure of performance prepared in accordance with GAAP. Because GAAP financial measures on a forward-looking basis are not
accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures.
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