Non-IFRS Measures 107 ESR Group Limited Interim Report 2024 EBITDA, Adjusted EBITDA and Adjusted PATMI are non-IFRS measures. These measures are presented because the Group believes they are useful measures to determine the Group’s financial condition and historical ability to provide investment returns. EBITDA, Adjusted EBITDA, Adjusted PATMI and any other measures of financial performance should not be considered as an alternative to cash flows from operating activities, a measure of liquidity or an alternative to net profit or indicators of the Group’s operating performance on any other measure of performance derived in accordance with IFRS. Because EBITDA, Adjusted EBITDA and Adjusted PATMI are not IFRS measures, these may not be comparable to similarly titled measures presented by other companies. The following table sets out the reconciliations of EBITDA, Adjusted EBITDA and Adjusted PATMI: FINANCIAL METRICS Financial Year FY2021 FY2022 FY2023 1H2023 1H2024 US$'000 US$'000 US$'000 US$'000 US$'000 Profit/(Loss) before tax 488,840 815,125 394,238 372,631 (188,955) Add/(less): Depreciation and amortisation 17,137 47,863 50,343 23,016 27,682 Finance costs 163,549 222,415 312,901 158,789 153,640 Interest income (5,328) (16,867) (32,885) (16,988) (14,547) EBITDA (a) 664,198 1,068,536 724,597 537,448 (22,180) Add back/(less): Changes in fair value of financial derivative assets (b) — (6,191) 4,146 — 4,532 Impairment of goodwill and other intangible assets (c) — — 29,167 — — Impairment of assets held for sale (d) — — — — 97,411 Share of certain associate’s fair value losses on investment properties and financial assets at fair value through profit or loss (e) — 40,531 108,243 — 44,589 Share-based compensation expense (f) 14,818 26,543 19,178 12,281 5,759 Transaction costs related to ARA acquisition (g) (iii) 27,818 22,463 — — — Transaction costs related to Indicative Proposal (h) — — — — 1,838 Adjusted EBITDA 706,834 1,151,882 885,331 549,729 131,949 Less: Fair value changes on Investment Properties (“IP”) (i) (274,484) (195,431) (187,722) (115,307) 29,744 Adjusted EBITDA (less fair value changes on IP) 432,350 956,451 697,609 434,422 161,693 Profit/(Loss) after tax and minority interests (PATMI) 349,440 574,145 230,849 288,965 (218,719) Add back/(less): Amortisation relating to intangible assets arising from acquisition of ARA, net of tax (g) (ii) — 17,791 18,767 9,306 9,358 Changes in fair value of financial derivative assets (b) — (6,191) 4,146 — 4,532 Impairment of goodwill and other intangible assets (c) — — 29,167 — — Impairment of assets held for sale (d) — — — — 97,411 Share of certain associate’s fair value losses on investment properties and financial assets at fair value through profit or loss (e) — 40,531 108,243 — 44,589 Share-based compensation (related to ARA) (g) (i) — 5,884 9,166 5,487 3,087 Transaction costs related to ARA acquisition (g) (iii) 27,818 22,463 — — — Transaction costs related to Indicative Proposal (h) — — — — 1,838 Adjusted PATMI 377,258 654,623 400,338 303,758 (57,904)
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