Reece Group Strategy Update
28
Group definitions
1
Adjusted EBITDA
2
Net leverage ratio
3
BAC income
4
Free cash flow
5
Available liquidity
Return on capital employed
7
Net tangible asset ratio
8
Constant currency basis
EBITDA adjusted to exclude government incentive scheme income (BAC income), impairment expenses and business
acquisition costs
Net debt over 12-month rolling EBITDA, calculated on a pre-AASB16 Leases basis
Income from Boosting Apprenticeship Commencements (BAC) government incentive scheme
Adjusted EBITDA less net movements in working capital, income tax paid and lease payments
Cash plus headroom on the Group's available facilities at period end
12-month rolling Adjusted EBIT as a percentage of shareholders equity plus net debt
Net assets less intangible assets, over the number of ordinary shares fully paid on issue (as reported in the Appendix 4D)
Constant currency basis applies the same US foreign exchange rate of 0.6717 from HY23 to current period sales to
eliminate the foreign exchange impact when comparing sales to pcp
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