Babylon Healthcare and Sickcare Overview
Adjusted EBITDA Reconciliation
Unaudited
Unaudited
$ in millions
2019A
2020A
Net Income
(140.3)
(184.7)
(+) Depreciation & Amortization (1)
2.5
14.5
(+) Net Finance Costs
0.1
3.9
(+) Tax
(5.6)
4.6
EBITDA
(+) Impairment(2)
(143.2)
(161.7)
6.4
(+) Share Based Payments (3)
8.0
10.9
(+) Exchange Rate (Gains) / Losses (4)
(17.1)
2.8
Adjusted EBITDA
(152.4)
(141.6)
Source: Management reporting.
Notes: We have not reconciled the non-IFRS measures for the future periods to their corresponding IFRS measures because certain reconciling items such as share-based payments and exchange rate gains and losses depend on factors such as the share price
at the time of award of future grants and foreign exchange rates and thus cannot be reasonably predicted. Accordingly, reconciliation to the non-IFRS projected measures are not available without unreasonable effort.
1) Reflects Right of Use Assets and PPE by the amount of $1.9M in 2019A and $3.4M in 2020A, Development Costs by the amount of $0.6M in 2019A and $10.1M in 2020A and Acquired Intangibles Assets of $1.0M in 2020A.
2) Impairment of technology development costs.
3) Share based compensation relating to employees.
4) Gain includes those resulting from inter-company relationships with significant GBP balances within USD companies translated at rates in accordance with IFRS.
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