Adamsmith Eugin

• Built a fully integrated 3-statement financial model and DCF valuation for Air Arabia, incorporating revenue drivers,
WACC computation, and multi-scenario sensitivity analysis.
• Conducted simulated Financial Due Diligence (FDD) including EBITDA normalisation, working capital analysis, and
identification of deal risks.
• Identified non-recurring items and revenue adjustments under IFRS 15 to assess true earnings quality and
sustainable revenue streams.

• Built a fully integrated 3-statement financial model and DCF valuation for Air Arabia, incorporating revenue drivers,
WACC computation, and multi-scenario sensitivity analysis.
• Conducted simulated Financial Due Diligence (FDD) including EBITDA normalisation, working capital analysis, and
identification of deal risks.
• Identified non-recurring items and revenue adjustments under IFRS 15 to assess true earnings quality and
sustainable revenue streams.