Federal Court - Christian Aboriginal Infrastructure Developments ...

Page: 334
[1259] Mr. Van Leeuwen noted in his report that he had produced two pro formas. His two pro
formas addressed financial projections for SYFC over a 10 year period from 2001 up to and
including 2010.
[1260] The Plaintiffs seek recovery of damages in the amount set out in pro forma no. 1 of the
report tendered by Mr. Van Leeuwen. Pro forma no. 1 was based upon the further assumption that
2010 FC 495 (CanLII)
the Plaintiff SYFC would have invested approximately $3 to $4 million to make a number of
improvements to the mill in mid-1999, during the construction stage of Phase 2. On the basis of the
assumptions that he made, Mr. Van Leeuwen projected earnings before interest, taxes, depreciation
and allowances (“EBITDA”) over 10 years from 2001 to 2010, inclusive, as $48,906,893. He
projected the earnings of the Plaintiff SYFC, over the same time frame, on the basis of earnings
before taxes and after depreciation and interest (“EBT”) as $35,906,893.
[1261] His summary for pro forma no. 1 is as follows:
• Summary of Financial Project #1:
• Projected 10 year unrealized Earnings Before Interest,
Taxes, Depreciation and Amortization (EBITDA) from
2001 to 2010 equal $35.5 million. Projected 10 year
unrealized Earnings Before Taxes (EBT) equals $28.6
million;
• Projected 10 year unrealized EBITDA for the 2 megawatt
co-generation facility from 2001 to 2010 equals $13.4
million. Projected 10 year unrealized EBT equals $7.34
million, and
• Total SYFC unrealized EBITDA for 2001 to 2010 equals
$48.9 million.
Projected unrealized 10 year EBT equals $35.9 million.