Aeris Annual Report 2022
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FINANCIAL REVIEW<br />
During the financial year, <strong>Aeris</strong>’ two operational assets were the<br />
Tritton Copper Operations (Tritton) in New South Wales and the<br />
Cracow Gold Operations (Cracow) in Queensland.<br />
RECONCILIATION OF PROFIT BEFORE INCOME<br />
TAX TO EBITDA AND ADJUSTED EBITDA:<br />
<strong>2022</strong> 2021<br />
$’000 $’000<br />
Profit before income tax expense 6,010 61,240<br />
Depreciation and amortisation 74,334 86,200<br />
Finance costs 5,987 11,631<br />
EBITDA 86,331 159,071<br />
Impairment of assets 4,349 -<br />
Transaction expense 1,951 4,068<br />
Loss on disposal of subsidiary - 2,238<br />
Net foreign exchange losses (418) (1,166)<br />
Movement in financial assets at fair value through profit or loss 1,439 444<br />
Adjusted EBITDA 93,652 164,655<br />
EBITDA and adjusted EBITDA are non-IFRS earnings measures that do not have any standardised meaning prescribed<br />
by IFRS, and therefore may not be comparable to EBITDA presented by other companies. These measures, which are<br />
unaudited, are important to management as an additional way to evaluate the consolidated entity’s performance.<br />
ADVANCING AERIS<br />
49
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