FY23 Results Presentation
Reconciliation of underlying to statutory EBITDA and NPATA
A$m
Australia and New Zealand
Rest of World
FY23
FY22
Ref A$m
85.1
97.5
Underlying EBITDA
49.6
57.2
A.
Acquisitions, IPO and integrations
North America
Underlying NPATA
43.5
11.6
B.
Extinguish pre-IPO MEP Plan
178.2
166.3
C.
Foreign exchange impact
3.9
D.
Employee IPO Gift
Australia and New Zealand
(16.0)
(86.0)
Total EBITDA Adjustments
FY23 FY22
365.0 308.0
(25.6) (36.3)
(10.5)
(9.7)
(5.1)
(21.7) (61.6)
Rest of World
(0.1)
12.4
Statutory EBITDA
343.3 246.4
North America
(3.6)
(0.3)
Underlying Adjustments
(19.7)
(73.9)
Underlying NPATA
178.2 166.3
Acquisitions, IPO and integrations
(25.6) (36.3)
E.
Australia and New Zealand
69.1
11.5
Extinguish pre-IPO MEP Plan
(10.5)
Rest of World
49.5
69.6
Foreign exchange impact
3.9
(9.7)
North America
39.9
11.3
Employee IPO Gift
Statutory NPATA
158.5
92.4
E.
Debt refinance
F.
Capital structure
(5.1)
(2.6) (24.7)
(31.7)
G.
Tax expense adjustment
H.
Tax effect adjustments
(1.6) 22.6
6.2
21.4
Total NPATA Adjustments
Statutory NPATA
APM
enabling better lives
FY23 Results Presentation | August 2023
(19.7) (74.0)
158.5 92.3
Adjustments
A. Acquisitions, IPO and integrations – integration, external advisory fees
and IPO costs
B. Extinguish pre-IPO MEP - As a result of the Offer, the Management
Equity Plan was fully vested and expense in the income statement
C. Foreign exchange impact – FX impact on fluctuations on USD
denominated debt and intercompany loans
D. Employee IPO Gift - on IPO, APM offered a gift of shares to qualifying
employees
Debt refinance - expense associated with APM's refinance of the first
and second lien term loan facility to an all first lien facility in July 2021
and July 2022
F. Capital structure - proceeds from the IPO were used to pay down debt
and subsequently reduce the interest expense. This adjustment assumes
the go forward capital structure was in place for the entire period
reported (including shareholder interest from the redeemable preference
shares)
G. Tax expense adjustment - FY23 deferred tax impact of losses brought
on balance sheet in the UK
H. Tax effect adjustments - recognize the tax effect of the
abovementioned adjustments (note: shareholder interest expense is
non-deductible for Australian tax purposes).
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