Q3 2022 Earnings Presentation
Non-GAAP Reconciliation
(1)
Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation
Figures in US $k
Notes:
Three months ended
Sep 30,
2022
2021
Nine months ended
Sep 30,
2022
2021
Net (loss) income
Less: Income (loss) attributable to non-controlling interest
46,922
(197)
20,659
(20)
101,288
(516)
48,583
(160)
(Loss) Income attributable to parent
46,725
20,639
100,772
48,423
Foreign currency transactions losses (gains)
450
(188)
856
(333)
Non Recurring expenses (extinguishment of debt, bond issuance costs, provision for bad debt,
acquisition related costs and other)
538
1,266
1,947
3,524
Non Recurring professional fees
3,402
Extinguishment of debt - Call Option Premium
8,610
Extinguishment of debt - Deferred Costs
(175)
2,193
Joint Venture VA (Saint Gobain) adjustments
Change in FV of Hedging Derivatives
Tax impact of adjustments at statutory rate
Adjusted net (loss) income
Basic income (loss) per share
771
(44)
1,743
102
4
(176)
(528)
(276)
(2,384)
(4,454)
47,956
21,226
106,336
57,889
0.98
0.43
2.11
1.02
Diluted income (loss) per share
0.98
0.43
2.11
1.02
Diluted Adjusted net income (loss) per share
1.01
0.45
2.23
1.21
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
47,675
47,675
47,675
47,675
47,675
47,675
Three months ended
Sep 30,
Nine months ended
Sep 30,
2022
2021
2022
2021
Net (loss) income
46,922
Less: Income (loss) attributable to non-controlling interest
(197)
20,659
(20)
101,288
(516)
48,583
(160)
(Loss) Income attributable to parent
46,725
20,639
100,772
48,423
Interest expense and deferred cost of financing
2,249
2,156
5,432
8,120
Income tax (benefit) provision
22,966
8,866
48,216
20,155
Depreciation & amortization
4,627
5,098
15,089
15,605
Foreign currency transactions losses (gains)
450
(188)
856
(333)
Non Recurring expenses (extinguishment of debt, bond issuance costs, provision for bad debt,
acquisition related costs and other).
538
1,266
1,947
3,269
Non Recurring professional fees
3,402
Extinguishment of debt - Call Option Premium
8,610
Extinguishment of debt - Deferred Costs
(175)
2,193
Joint Venture VA (Saint Gobain) EBITDA adjustments
Change in FV of Hedging Derivatives
Adjusted EBITDA
948
813
2,709
2,154
4
(176)
78,503
38,479
178,423
108,020
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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