GROUP FINANCIAL SUMMARY FINANCIAL METRICS Financial Year FY2017 FY2018 FY2019 FY2020 FY2021 EBITDA (US$’000) (1) 369,661 384,212 549,091 571,177 664,198 Adjusted EBITDA (US$’000) (1) 181,935 239,586 358,933 366,004 430,763 Core PATMI (US$’000)(1) 126,804 147,619 226,723 259,941 316,015 Net debt (US$’000) (2) 232,644 879,094 1,686,711 1,779,848 2,609,667 Net debt/total assets 7.6% 19.8% 26.6% 23.2% 27.9% (1) EBITDA, Adjusted EBITDA and Core 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 and Core 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 Core PATMI are not IFRS measures, these may not be comparable to similarly titled measures presented by other companies. (2) Net debt is calculated as bank and other borrowings less cash and bank balances. The following table sets out the reconciliations of EBITDA, Adjusted EBITDA and Core PATMI: Financial Year (in US$’000) FY2017 FY2018 FY2019 FY2020 FY2021 Profit before tax 273,174 270,587 360,334 410,704 488,840 Add/(less): Depreciation and amortisation 8,061 10,226 16,363 17,141 17,137 Finance costs 90,903 104,929 180,368 147,414 163,549 Interest income (2,477) (1,530) (7,974) (4,082) (5,328) EBITDA 369,661 384,212 549,091 571,177 664,198 Add/(less): Equity-settled share option expense 11,923 23,157 18,469 14,082 14,818 Exchange (gain)/loss (4,431) 869 1,111 5,425 (1,587) Fair value gains on investment properties (195,218) (172,467) (226,083) (224,680) (274,484) Listing expenses – 2,521 16,345 – – Transaction costs related to ARA – – – – 27,818 Write-off related to loss of property, plant and equipment – 9,632 – – – One-off insurance compensation – (8,338) – – – Adjusted EBITDA 181,935 239,586 358,933 366,004 430,763 Profit after tax and minority interests 186,265 203,042 245,177 286,466 349,440 Fair value gains on completed investment properties (95,179) (109,688) (68,568) (53,717) (95,825) Add: Equity-settled share option expense 11,923 23,157 18,469 14,082 14,818 Listing expenses – 2,521 16,345 – – Tax effect of adjustments 23,795 28,587 15,300 13,110 19,764 Transaction costs related to ARA – – – – 27,818 Core PATMI 126,804 147,619 226,723 259,941 316,015 R E A C H I N G N E W H E I G H T S 240
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