EX-99.6 7 v440429_ex99-6.htm EXHIBIT 99.6

 

Exhibit 99.6

 

Reconciliation of Lauro 57 Reported EBITDA to Euticals Adjusted EBITDA

 

(in € thousands)

 

   2013   2014   2015 
             
As Reported EBITDA (IFRS) - Lauro 57  21,383   21,627   29,564 
+ Severance Charges   2,547    400      
+ Consulting & Acquisition Costs   1,016           
+ Prior Year Extraordinary Items   294    1,000      
+ Bank Commissions   793    909    692 
+ Change in Environmental Provision   795    (543)     
+ Provision Allocation   1,080    124      
+ Provision for Receivables   2,450    192      
+ R&D Write-off   1,043           
+ Non-Cash Employee Benefits Impact   (236)   (141)     
Adjusted EBITDA (IFRS) - Lauro 57  31,164   23,567   30,256 
+ Holding Company Costs   168    60    220 
Adjusted EBITDA (IFRS) - Euticals  31,333   23,627   30,476 
- Capitalized R&D Costs   (3,072)   (4,957)   (4,664)
- Bank Commissions   (793)   (909)   (692)
Adjusted EBITDA - Euticals   27,467   17,761   25,120 
Euro to USD FX Translation Rate   1.130    1.130    1.130 
Adjusted EBITDA - Euticals   $31,038   $20,070   $28,386