(*): 2017 has been restated following the final accounting of the ACTech business combination and the adjustment to the ACTech inventories valuation.

Reconciliation of Net Profit (Loss) to EBITDA and Adjusted EBITDA (Unaudited)

				For the three months ended December 31								For the twelve months ended December 31
(in 000)				2018				2017*				2018				2017*
				€				€				€				€
Net profit (loss) for the period				525				1,067				3,027				(2,117)
Income taxes				(348)				(303)				425				522
Financial expenses				1,308				1,434				4,864				4,728
Financial income				(888)				(1,078)				(3,627)				(3,210)
Share in loss of joint venture				184				(127)				475				469
Depreciation and amortization				4,753				4,434				17,287				12,576
EBITDA				5,534				5,427				22,451				12,968
Non-cash stock-based compensation expense (1)				518				36				1,075				1,033
Acquisition-related expenses of business combinations				-				343				-				609
ADJUSTED EBITDA				6,052				5,806				23,526				14,610

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