Pro Forma Net Debt (including Lease Liabilities) 2,3 / Pro Forma Normalized Adjusted EBITDA (inclusive of IFRS 16 impacts) 2 of approximately 2.8x Pro Forma Total Debt (including Lease Liabilities) 2,3 / Pro Forma Normalized Adjusted EBITDA (inclusive of IFRS 16 impacts) 2 of approximately 3.2x Pro Forma Net Debt 2,3 / Pro Forma Normalized Adjusted EBITDA (Pre-IFRS 16) 2 of approximately 1.1x Pro Forma Total Debt 2,3 / Pro Forma Normalized Adjusted EBITDA (Pre-IFRS 16) 2 of approximately 1.6x Pro Forma Secured Debt 2,3 / Pro Forma Normalized Adjusted EBITDA (Pre-IFRS 16) 2 of approximately 0.3x Management estimates that if the Acquisitions had been completed on the first day of the 12 month period ending September 30, 2021, and providing for assumptions on debt associated with such Acquisitions, it would have resulted in the following select credit metrics as of September 30, 2021: Management further estimates that if the Acquisitions had occurred on the first day of the 12 month period ending September 30, 2021, AutoCanada would have had sales of over 94,000 new and used vehicles in that period, as compared to over 71,000 in the 12 month period ending September 30, 2019, and Pro Forma Revenues 2 of $4.9 billion in the 12 month period ending Septemas compared to $3.4 billion in the 12 month period ending September 30, 2019. Management estimates that if the Acquisitions had occurred on the first day of the 12 month period ending September 30, 2021, the Company would have reported approximately $194 million in Pro Forma Normalized Adjusted EBITDA (Pre-IFRS 16) 2 and approximately $242 million of Pro Forma Normalized Adjusted EBITDA (inclusive of IFRS 16 impacts) 2 for that period. This strong operational and financial performance enables us to continue to develop organically while executing on our disciplined acquisition and innovation strategy."Įstimated Financial Impact of the Acquisitionsįor the 12 month period ending September 30, 2021, AutoCanada's reported net income was $122 million and it had Normalized Adjusted EBITDA (Pre-IFRS 16) 2 of $172 million and Normalized Adjusted EBITDA (inclusive of IFRS 16 impacts) 2 of $215 million. Paul Antony, Executive Chairman of the Company, stated, "We are on track for another record fourth quarter, reflecting the ongoing positive momentum across our business and the fundamental strength and resiliency of our operating platform and balance sheet. The increase includes debt incurred in connection with the acquisition of 11 dealerships from the Autopoint Group, the acquisitions of Airdrie Autobody in Canada and Crystal Lake Stellantis in the U.S., and the purchase of dealership real estate under development in Maple Ridge, BC, which represented a total cash outflow of approximately $191 million during the quarter. Same store 1 total retail unit sales growth of approximately 13% as compared to 3.9% in Q4 2020 Īn increase in AutoCanada's same store 1 used-to-new vehicles sold ratio to approximately 1.30 in Q4 2021 from 0.91 in Q4 2020 andĪn increase in net debt by approximately $170 to $190 million in the quarter, from $29.8 million as at September 30, 2021, to approximately $200 to $220 million as at December 31, 2021. Q4 2021 revenue of approximately $1,130 to $1,170 million, representing growth of approximately 30% over the same period in 2020 ("Q4 2020") Preliminary Unaudited Fourth Quarter 2021 Operating Resultsįor the three month period ended Decem("Q4 2021"), on a preliminary unaudited basis (as discussed in further detail below), management expects to report the following highlights:
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