EBITDA

H-58

DEFINITION:

Earnings before interest, tax, depreciation and amortisation (EBITDA).

GUIDANCE:

This indicator captures the value of the investee companies net income before interest, taxes, depreciation and amortization during the reporting period according to the international accounting standards (EBITDA= Revenue − Expenses (excluding tax and interest, depreciation, and amortization))

Note:

• EBITDA should be expressed in terms of the agreed reporting currency (typically USD, EUR, or local currency). Ideally, currencies should be complemented by exchange rates as used at the time of computation to allow for future use.

Applicability: Fund investment, not intermediated finance

Unit: # currency