Alternative Performance Measures

Arbonia uses alternative performance measures (APM) as guidance measures for both internal reporting to management and external reporting to stakeholders. The APM used by Arbonia have not been prepared in accordance with IFRS accounting policies and are discussed in detail below. The APM serve as supplementary information components and should therefore always be read and interpreted in conjunction with the consolidated financial statements prepared in accordance with IFRS. The APM used by Arbonia do not necessarily agree with the same or similar titled measures of other or comparable companies.

EBITDA without one-time effects/adjusted

The elimination of one-time effects provides an adjusted and thus better comparable presentation of the operating result over time. Discontinued operations as defined by IFRS 5 are not included. The following one-time effects are eliminated by Arbonia:

Costs resulting from creation of provisions or income resulting from reversal of provisions for restructurings and reorganisation as well as closure costs
Ramp-up costs for new production sites
Consultancy and integration costs from acquisitions
Consultancy costs from disposal of subsidiaries
Gains and losses from sale of properties and associated companies
Real estate development costs
Costs in connection with personnel changes / leave of absence in Group and Division management

EBITA without one-time effects/adjusted

Impairments
Reversal of impairments

EBIT without one-time effects/adjusted

Impairments on intangible assets from acquisitions

Group result before income tax without one-time effects/adjusted

Impairments and reversal of impairments on loans granted

Group result after taxes without one-time effects/adjusted

Tax effect on one-time effects
Tax consequences from disposal of subsidiaries

Reconciliation Group and Divisions from IFRS-result to result without one-time effects / Adjusted

in 1 000 CHF		2021
		IFRS	%	Gain from sale of properties	Costs for restructurings and reorganisation	Consultancy and integration costs from acquisitions	Various	Tax effects on one-time effects	without one-time effects/ adjusted	%
HVAC	EBITDA	61 916	9.8	– 328	8 799	195			70 581	11.2
	EBITA	29 930	4.7		4 009				42 604	6.8
	EBIT	25 538	4.1						38 212	6.1
Doors	EBITDA	76 191	13.8				100		76 291	13.8
	EBITA	54 483	9.9						54 583	9.9
	EBIT	43 161	7.8						43 261	7.8
Corporate Services	EBITDA	– 13 419			433	440			– 12 546
	EBITA	– 15 401							– 14 528
	EBIT	– 15 401							– 14 528
Group	Net revenues	1 186 177	100.0						1 186 177	100.0
	Other operating income	16 944	1.4	– 328					16 616	1.4
	Capitalised own services	6 140	0.5						6 140	0.5
	Changes in inventories of semi-finished and finished goods	12 005	1.0						12 005	1.0
	Cost of material and goods	– 548 875	– 46.3		257				– 548 618	– 46.3
	Personnel expenses	– 386 674	– 32.6		7 914				– 378 760	– 31.9
	Other operating expenses	– 161 019	– 13.6		1 061	635	100		– 159 223	– 13.4
	EBITDA	124 698	10.5						134 337	11.3
	Depreciation, amortisation and impairments	– 55 675	– 4.7		4 009				– 51 666	– 4.4
	EBITA	69 023	5.8						82 671	7.0
	Amortisation of intangible assets from acquisitions	– 15 715	– 1.3						– 15 715	– 1.3
	EBIT	53 308	4.5						66 956	5.6
	Financial income	621	0.1						621	0.1
	Financial expenses	– 10 005	– 0.8						– 10 005	– 0.8
	Group result before income tax	43 924	3.7						57 572	4.9
	Income tax expense	– 16 384	– 1.4					– 68	– 16 452	– 1.4
	Group result from continuing operations	27 540	2.3						41 120	3.5

Presentation of the respective one-time effects on the immediate result line without disclosure of the impact on the subsequent line items.

Reconciliation Group and Divisions from IFRS-result to result without one-time effects / Adjusted

in 1 000 CHF		2020
		IFRS	%	Gain from sale of properties	Costs for restructurings and reorganisation	Tax effects on one-time effects	without one-time effects/ adjusted	%
HVAC	EBITDA	59 182	11.2		426		59 608	11.3
	EBITA	33 253	6.3				33 679	6.4
	EBIT	29 607	5.6				30 033	5.7
Doors	EBITDA	66 140	13.0				66 140	13.0
	EBITA	46 407	9.1				46 407	9.1
	EBIT	35 138	6.9				35 138	6.9
Corporate Services	EBITDA	– 9 031		– 2 248			– 11 279
	EBITA	– 10 874					– 13 122
	EBIT	– 10 874					– 13 122
Group	Net revenues	1 038 421	100.0				1 038 421	100.0
	Other operating income	14 807	1.4	– 2 098			12 709	1.2
	Capitalised own services	6 369	0.6				6 369	0.6
	Changes in inventories of semi-finished and finished goods	3 333	0.3				3 333	0.3
	Cost of material and goods	– 454 017	– 43.7				– 454 017	– 43.7
	Personnel expenses	– 345 604	– 33.3		353		– 345 251	– 33.2
	Other operating expenses	– 147 017	– 14.2	– 150	72		– 147 095	– 14.2
	EBITDA	116 292	11.2				114 470	11.0
	Depreciation, amortisation and impairments	– 47 505	– 4.6				– 47 505	– 4.6
	EBITA	68 787	6.6				66 965	6.4
	Amortisation of intangible assets from acquisitions	– 14 915	– 1.4				– 14 915	– 1.4
	EBIT	53 872	5.2				52 050	5.0
	Financial income	469	0.0				469	0.0
	Financial expenses	– 13 401	– 1.3				– 13 401	– 1.3
	Group result before income tax	40 940	3.9				39 118	3.8
	Income tax expense	– 11 210	– 1.1			213	– 10 997	– 1.1
	Group result from continuing operations	29 730	2.9				28 121	2.7

Presentation of the respective one-time effects on the immediate result line without disclosure of the impact on the subsequent line items.

Acquisition and currency adjusted growth (organic growth)

Acquisition and currency adjusted growth excludes effects from acquisitions and disposals of companies and currency effects.

In the acquisition adjusted growth, revenues of the acquired companies are eliminated in the year of acquisition. For companies acquired in the previous year, revenues of the current year are included for the same period as in the previous year. Discontinued operations within the meaning of IFRS 5 are eliminated.

In the currency adjusted growth, revenues of the current year in the functional currency of the respective company are translated at the average exchange rates of the same previous year period.

Net debt

Current and non-current financial debts plus current and non-current lease liabilities minus cash and cash equivalents

Leverage ratio

Net debt divided by EBITDA

Free cash flow

Cash flow from operating and investing activities

Operational free cash flow

Cash flow from operating and investing activities without expansion capital expenditures

Capital expenditures

Maintenance and expansion capital expenditures

Accesskeys

Alternative Performance Measures

EBITDA without one-time effects/adjusted

EBITA without one-time effects/adjusted

EBIT without one-time effects/adjusted

Group result before income tax without one-time effects/adjusted

Group result after taxes without one-time effects/adjusted

Reconciliation Group and Divisions from IFRS-result to result without one-time effects / Adjusted

Reconciliation Group and Divisions from IFRS-result to result without one-time effects / Adjusted

Acquisition and currency adjusted growth (organic growth)

Net debt

Leverage ratio

Free cash flow

Operational free cash flow

Capital expenditures