1) Before open!
2) So the IER low value of $0.30 post recap, post consol assumes annual:
Revenue: $205m assumed vs $192.6m actual (1H 18 result annualised, -6% short)
EBITDA: $28.7m assumed vs -$21.2m - a loss and for only 1H
As EBITDA is still negative you can't even generate a positive EV based on the valuation methodology employed by KPMG. E.g. 4.75 x -21.2 = -$101m.
Low: $0
High: $0.30 is still generous.
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