LensCrafters 2013 Annual Report Download - page 40

35
Net debt @ avg. exchange rates
(1)
/EBITDA 1.0x 1.3x
(1)
Net debt figures are calculated using the average exchange rates used to calculate the EBITDA figures.
Non-IFRS Measure: Net debt and Net debt/Adjusted EBITDA
(Amounts in millions of Euro)
FY 2013
(2)
FY 2012
(3)
Long-term debt 1,716.4 2,052.1
(+)
Current portion of long-term debt 318.1 310.1
(+)
Bank overdrafts 44.9 90.3
(+)
Cash (618.0) (790.1)
(-)
Net debt 1,461.4 1,662.4
(=)
LTM Adjusted EBITDA 1,431.3 1,350.1
Net debt/LTM Adjusted EBITDA 1.0x 1.2x
Net debt @ avg. exchange rates
(1)
1,476.0 1,679.0
Net debt @ avg. exchange rates
(1)
/LTM EBITDA 1.0x 1.2x
(1)
Net debt figures are calculated using the average exchange rates used to calculate EBITDA figures.
(2)
(a) The adjusted figures exclude non-recurring Alain Mikli restructuring costs with an approximately Euro 9 million impact on operating income
and an approximately Euro 6 million adjustment to net income;
(b) The adjusted figures exclude non-recurring tax expense for the tax audit relating to Luxottica S.r.l. (fiscal year 2007) of approximately Euro
27 million;
(c) The adjusted figures exclude non-recurring tax expense for the tax audit relating to Luxottica S.r.l. (fiscal years subsequent to 2007) of
approximately Euro 40 million;
(3)
Adjusted figures exclude the following:
(a) non-recurring OPSM reorganization costs with an approximately Euro 22 million impact on operating income and an approximately
Euro 15.0 million adjustment to net income; and
(b) non-recurring accrual for the tax audit relating to Luxottica S.r.l. (fiscal year 2007) of approximately Euro 10 million.