Alternative performance measures
In reporting financial information, the Group presents alternative performance measures (APMs) which are not defined or specified under the requirements of IFRS. The Group believes that these APMs, which are not considered to be a substitute for or superior to IFRS measures, provide stakeholders with additional useful information on the underlying trends, performance and position of the Group and are consistent with how business performance is measured internally. The alternative performance measures are not defined by IFRS and therefore may not be directly comparable with other companies’ alternative performance measures. The key APMs that the Group uses are outlined below.
APM | Closest equivalent IFRS measure | Reconciling items to IFRS measure | Definition and purpose |
---|---|---|---|
Income statement measures | |||
Adjusted earnings before interest, tax, depreciation and amortiaztion (Adjusted EBITDA) | Profit/(loss) before income tax | Finance costs, income tax expense, depreciation and amortization, remeasurement of provisions, other income and expenses. | Used to help assess current operational performance excluding the impacts of non-cash sunk costs (i.e. depreciation and amortization from initial investment in tangible and intangible assets). It is a measure that management uses internally to assess the performance of the Group’s segments and make decisions on the allocation of resources. |
Adjusted earnings before interest, tax, depreciation and amortization and research and development (Adjusted EBITDAR) | Profit/(loss) before income tax | Finance costs, income tax expense, depreciation and amortization, remeasurement of provisions, other income and expenses and costs associated with product development activities. | Used to assess the Group's performance excluding non-operating expenditure, finance costs, depreciation and amortization, taxation expense and product development activities. Included as a metric for LTVR targets in 2023 and 2024. |
Adjusted earnings before interest, tax, research and development (Adjusted EBITRD) | Profit/(loss) before income tax | Finance costs, income tax expense, remeasurement of provisions, other income and expenses and costs associated with product development activities. | Used to assess the Group's performance excluding non-operating expenditure, finance costs, taxation expense and product development activities. Included as a metric for LTVR targets in 2022. |
Balance sheet measures | |||
Net tangible asset per share | None | Net assets excluding intangible assets, deferred tax assets and right-of-use assets divided by the Group's weighted average number of ordinary shares on issue. | Disclosed in the Group's Appendix 4E as required by Rule 4.3A of the ASX listing rules. |
Abbreviations used in Annual Report
We have outlined below the meaning of various abbreviations or acronyms used in the Annual Report.
Abbreviations
Abbreviation | Term |
---|---|
AASB | Australian Accounting Standards Board |
ADR | American Depositary Receipts |
AI | Artificial intelligence |
AML | Acute myeloid leukemia |
ARC | Audit and Risk Committee |
ASIC | Australian Securities and Investments Commission |
ASX | Australian Securities Exchange |
BBB | Blood-brain barrier |
BLA | Biologics License Application |
BMC | Bone marrow conditioning |
CAIX | Carbonic anhydrase IX |
ccRCC | Clear cell renal cell carcinoma |
CD66 | Cluster of differentiation 66 |
CE | Conformité Européenne Mark |
CMS | Centers for Medicare & Medicaid Services |
CNS | Central nervous system |
DNA-PK | DNA-dependent protein kinase |
EAP | Early or expanded access program |
EBRT | External beam radiation therapy |
EEA | European Economic Area |
ERMF | Enterprise Risk Management Framework |
ESG | Environment, Social and Governance |
FANC | Belgian Federal Agency for Nuclear Control |
FAP | Fibroblast activation protein |
FDA | United States Food and Drug Administration |
GBM | Glioblastoma |
GCP | Good Clinical Practice |
GDP | Good Distribution Practice |
GDPR | General Data Protection Regulation |
GET | Group Executive Team |
GHG | Greenhouse gas |
GLF | Global Leadership Forum |
GLP | Good Laboratories Practice |
GMP | Good Manufacturing Practice |
GSRC | Global Safety Review Committee |
HSCT | Hematopoietic stem cell transplant |
HSWE | Health, safety, wellbeing and environment |
IASB | International Accounting Standards Board |
IFRS | International Financial Reporting Standard |
IIT | Investigator initiated trial |
IND | Investigational new drug |
IPO | Initial Public Offering |
IRM | Indeterminate renal mass |
ISMS | Information Security Management System |
ISSB | International Sustainability Standards Board |
KMP | Key management personnel |
LAT1 & 2 | L-type amino acid transporters 1 & 2 |
MBS | Medicare Benefits Schedule |
mCRPC | Metastatic castration-resistant prostate cancer |
MM | Multiple myeloma |
MOA | Mechanism of action |
MRI | Magnetic resonance imaging |
NDA | New Drug Application |
NED | Non-Executive Director |
NPP | Named patient program |
ODD | Orphan drug designation |
PCNRC | People, Culture, Nomination and Remuneration Committee |
PDGFRα | Platelet-derived growth factor receptor alpha |
PDUFA | Prescription Drug User Fee Act |
PoC | Proof-of-concept |
PSA | Prostate-specific antigen |
PSMA | Prostate-specific membrane antigen |
PSMA-PET | Prostate-specific membrane antigen imaging with positron emission tomography |
QMS | Quality Management System |
QSEB | Quality and Safety Evaluation Board |
R&D | Research and development |
R&I | Research and Innovation |
rADC | Radio antibody-drug conjugate |
REACH | Registration, Evaluation and Authorisation of Chemicals |
RGS | Radio-guided surgery |
rPFS | Radiographic progression-free survival |
SALA | Systemic amyloid light chain amyloidosis |
SoC | Standard of care |
SOP | Standard operating procedure |
SOX | Sarbanes–Oxley Act |
SPECT | Single photon emission computed tomography |
STS | Soft tissue sarcoma |
TAT | Targeted alpha therapy |
TGA | Therapeutic Goods Administration (Australia) |
TMS | Telix Manufacturing Solutions |
TNBC | Triple-negative breast cancer |