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 sitesConsultancy and integration costs from acquisitions
Consultancy costs with greater cost implications for acquisitions that did not materialise
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

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 acquisitions / disposals of subsidiaries / financial assets and expansion capital expenditures

Capital expenditures

Maintenance and expansion capital expenditures

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

in 1 000 CHF		2022
		IFRS	%	Consultancy and integration costs from acquisitions	Costs for restructurings and reorganisation	Costs in connection with leave of absence in Division management	Consultancy costs from acquisitions that did not materialise	Various	Tax effects on one-time effects	without one-time effects / adjusted	%
HVAC	EBITDA	58 569	9.1	293		288				59 150	9.2
	EBITA	29 130	4.5							29 711	4.6
	EBIT	24 592	3.8							25 173	3.9
Doors	EBITDA	59 217	10.7	226	2 865			– 100		62 208	11.3
	EBITA	35 404	6.4		262					38 658	7.0
	EBIT	23 984	4.3							27 238	4.9
Corporate Services	EBITDA	– 9 488			– 75		628			– 8 935
	EBITA	– 11 567								– 11 014
	EBIT	– 11 567								– 11 014
Group	Net revenues	1 202 097	100.0							1 202 097	100.0
	Other operating income	16 255	1.4							16 255	1.4
	Capitalised own services	8 887	0.7							8 887	0.7
	Changes in inventories of semi-finished and finished goods	11 142	0.9							11 142	0.9
	Cost of material and goods	– 593 659	– 49.4							– 593 659	– 49.4
	Personnel expenses	– 355 497	– 29.6		2 664	288				– 352 545	– 29.3
	Other operating expenses	– 180 922	– 15.1	519	127		628	– 100		– 179 748	– 15.0
	EBITDA	108 303	9.0							112 430	9.4
	Depreciation, amortisation and impairments	– 55 331	– 4.6		262					– 55 069	– 4.6
	EBITA	52 972	4.4							57 361	4.8
	Amortisation of intangible assets from acquisitions	– 15 958	– 1.3							– 15 958	– 1.3
	EBIT	37 014	3.1							41 403	3.4
	Financial income	2 674	0.2							2 674	0.2
	Financial expenses	– 9 870	– 0.8		16					– 9 854	– 0.8
	Group result before income tax	29 818	2.5							34 223	2.8
	Income tax expense	– 9 146	– 0.8						– 1 219	– 10 365	– 0.9
	Group result from continuing operations	20 672	1.7							23 858	2.0

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		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	– 372 892	– 31.4		7 914				– 364 978	– 30.8
	Other operating expenses	– 174 801	– 14.7		1 061	635	100		– 173 005	– 14.6
	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.

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

Acquisition and currency adjusted growth (organic growth)

Net debt

Leverage ratio

Free cash flow

Operational free cash flow

Capital expenditures

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