Moelis & Company Investment Banking Pitch Book
EBITDA
MARGIN
Fiscal Year 2016 EBITDA Bridge
The initial budget shared with buyers contemplated $86.6 million of FY16 Adjusted EBITDA; latest
forecast shared with buyers projects $73.1 million of FY16 Adjusted EBITDA ¹
FY16 EBITDA FORECAST
($ in millions)
Projections provided in
Overview Presentation
for buyers (as of Mar-15)
$86.6
Budgeted Adj.
EBITDA
1.
2
45%
$6.8
Source: Company Management estimates
$1.2
$1.8
$8.5
STRICTLY CONFIDENTIAL
$1.1
MOELIS & COMPANY
Latest forecast shared
with buyers (as of Sep-15)
Reduction in License Increase in Glass Gross Increase in Consumer Increase in Operating Reduction in EBITDA Latest Estimate Adj.
Gross Profit
/ Other Gross Profit
Profit
Expenses?
Adjustments ³
EBITDA
Adjusted EBITDA projections before public company cost savings
Increase in operating expemes comprised of increase of S&M and G&A expense of $4.4 and $4.3 million, respectively, and a reduction of R&D expense of $0.2 million
Reduction in EBITDA adjustments comprised of increase in D& A expense of $0.9 million and reduction in restructuring and impaiment expenses of $2.0 million
$73.1
38%
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