Restructuring Services Meaningful Change. Measurable Results.TM Create Value for Companies in Stressed and Distressed Situations

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Restructuring services Meaningful Change. Measurable results.TM Create value for companies in stressed and distressed situations

Throughout our work in a wide range of Whether the goal is to enhance performance industries, we understand what lies behind or guide stakeholders through complex numbers and we can quickly identify key reorganisations, our team works closely business issues. with our clients to quickly understand the business, identify the most pressing issues Deloitte’s restructuring team supports and provide hands on support on how to organisations to turnaround in periods of move ahead with confidence. difficulties. We create substantial value for all As part of Deloitte’s financial advisory team stakeholders in a stressed or distressed our experienced restructuring team is able environment. In case of underperforming to act swiftly to stabilise and find the most activities, we are not only recommending ways appropriate solution for your challenges. to improve the situation, but we also take ownership alongside management for the Having led large multinational organisations required actions. and mid-market companies through periods of difficulties, we apply our experience to We turn your challenges into opportunities, achieve successful outcomes for our clients, if needed with the assistance of our M&A, the creditors and shareholders. valuation, tax and legal teams or our broad international restructuring network.

Healthy Stressed Distressed/Crisis Insolvent

Financial restructuring Turnaround business plan Reporting and forecasting

Performance improvement Insolvency advisory Liquidation support Consulting Cash and working capital management Wind down execution Strategy Pensions Debt advisory and restructuring IT systems Review capital structure Funding alternatives

CRO Services Operational and business restructuring Operational redesign Integration/Carve out Creditor advisory IBR

Corporate Finance Advisory, M&A, Valuations and Real Estate

Tax and Legal Financial restructuring Creditor advisory Together with management, we prepare We support banks and lenders with interests and review your turnaround business plans, in distressed companies to maximise highlight its sensitivities and determine the recovery. Our professionals advise credit cash needs. We assist you in the preparation committees. We prepare Independent of rolling forward forecasts and set-up Business reviews (IBR) to assess complex comprehensive reporting that allows to assess situations and advise all stakeholders on key cash generation of your activities and sectors. issues and opportunities.

Performance improvement Operational and business restructuring Deloitte analyses your business performance We drive potential gains in operating against your market competitors, we identify performance, execute strategic reviews, profit improvements and synergy potential perform operational due diligences and in your businesses and translate your cost highlight growth drivers across the value cutting plans into action chain. We prepare blueprints and lead the program management of carve-outs and Cash and working capital management business integrations, allowing you to realise We install daily cash reporting, assist in the planned benefits. implementation of cash pool structures and support in the preparation of adequate CRO short and long term cash flow forecasts. We We take the role of Chief Restructuring are experts in the identification of working Officer (CRO), support senior management capital improvements - both from a financial and board of directors in implementation and operational viewpoint - and after a quick of restructuring actions including cost scan design, implement and monitor the rationalisations, corporate simplifications optimisation process. and integration projects. In cases of crisis, our team restores confidence and ensures Debt advisory and restructuring business continuity. We prepare debt restructuring plans and advice on optimal capital structures for Insolvency advisory your business. We assess serviceable debt We analyse with you the alternatives under and covenants setting. We support you to continuity (WCO) laws, support in wind negotiate with financing parties and to obtain down and insolvency execution of failed new debt funding or optimise capex. activities. Our experience allows us to define roles, responsibilities and timelines in these circumstances. We have an experienced team of restructuring professionals

Kris Geysels Eric Baart Partner, Restructuring Services Partner [email protected] [email protected] +32 (0)477 58 28 22 +32 (0)477 38 08 21

Kris is Partner at Deloitte’s Restructuring Eric is a Partner at Deloitte’s restructuring department, specialised in financial and Consulting practice in matters of strategy restructuring, debt and recovery advisory, and growth, operational turnaround as well as CRO services and distressed M&A support. cost optimisation.

Kris has 25 years of experience as CFO and Eric held several international management CEO in complex corporate restructurings positions in Roland Berger Strategy of large international groups in various Consultants, IBM Business Services, PwC sectors including logistics, airport activities, Consulting and Cargill. construction and retail.

Stephan Brouwers Sebastiaan Preckler Director, Financial and Director, Debt advisory and operational restructuring restructuring [email protected] [email protected] +32 (0) 472 90 19 38 +32 (0) 477 07 55 51

Tim Houben Carol Struyf Director, Operational restructuring Director, Financial restructuring [email protected] [email protected] +32 (0) 474 87 05 36 +32 (0) 475 55 59 02