OnesSpaWorld SPAC
RECONCILIATION TO ADJUSTED EBITDA
$M
Net Income
(+) Other (Income) / Expense
(+) Interest (Income) / Expense¹
(+) Cash Taxes
(+) Depreciation and Amortization²
EBITDA
(+) One-Time Deal Costs (2015 Acquisition)
(-) Incremental Public Company Costs
(+) Atlantis Adjustment³
Pro Forma Adj. EBITDA
2015A
$39.9
$(0.0)
$0.0
$1.5
$7.2
$48.6
$1.2
$(2.9)
$ 0.0
$ 46.9
2016A
$36.5
$0.2
$(0.3)
$4.9
$ 12.2
$ 53.4
$0.0
$(2.9)
$0.
$ 50.6
Fiscal Year Ended December 31,
2017A
2018
$ 40.3
$0.0
$0.0
$4.6
$ 12.3
$ 57.2
$ 0.0
$(2.9)
$ 0.0
$ 54.3
$26.1
$ 0.0
$20.9
$0.5
$11.7
$59.1
$ 0.0
$(2.9)
$ 0.0
$ 56.3
1.
Includes amortization of financing fees. 2018 interest expense pro forma for a full year of debt with no paydown. 2019 and 2020 assume 100% sweep to free cash flow.
2. Includes $3.5M of amortization of intangibles recognized when L Catterton acquired Steiner Leisure in December 2015.
3. Addback of lost net income due to planned renovation of Atlantis facility in 2019.
ONESPAWORLD
AT SEA. ON LAND.
2019
$31.0
$ 0.0
$20.5
$ 0.6
$11.5
$ 63.7
$ 0.0
$(2.9)
$1.5
$62.3
2020
$49.0
$ 0.0
$18.7
$0.9
$ 12.3
$ 81.0
$0.0
$(3.1)
$0.
$77.9
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