NON-IFRS MEASURES 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. The following table sets out the reconciliations of EBITDA, Adjusted EBITDA and Core PATMI: Financial Year FY2019 FY2020 FY2021 1H2021 1H2022 (in US$’000) Profit before tax 360,334 410,704 488,840 287,610 519,486 Add/(less): Depreciation and amortisation 16,363 17,141 17,137 8,266 23,369 Finance costs 180,368 147,414 163,549 79,810 99,308 Interest income (7,974) (4,082) (5,328) (2,236) (5,028) EBITDA 549,091 571,177 664,198 373,450 637,135 Add/(less): Share-based compensation expense 18,469 14,082 14,818 5,172 10,438 Exchange (gain)/loss 1,111 5,425 (1,587) 2,091 1,056 Listing expenses 16,345 – – – – Fair value gains on investment properties (226,083) (224,680) (274,484) (165,901) (162,927) Transaction costs related to ARA acquisition – – 27,818 – 22,463 Adjusted EBITDA 358,933 366,004 430,763 214,812 508,165 Profit after tax and minority interests 245,177 286,466 349,440 213,947 380,607 Add/(less): Fair value gains on completed investment properties (68,568) (53,717) (95,825) (63,253) (43,249) Amortisation relating to intangible assets arising from acquisition of ARA, net of tax – – – – 8,329 Listing expenses 16,345 – – – – Share-based compensation expense 18,469 14,082 14,818 5,172 10,438 Transaction costs related to ARA acquisition – – 27,818 – 22,463 Tax effect of adjustments 15,300 13,110 19,764 11,074 10,848 Core PATMI 226,723 259,941 316,015 166,940 389,436 E S R G R O U P L I M I T E D I N T E R I M R E P O R T 2 0 2 2 95
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