The sale price will be around 4 to 5 times profit. Any goodwill...

The sale price will be around 4 to 5 times profit. Any goodwill that Vocus has on its books for NZ will be written down to zero at time of sale.

The goodwill on our Balance Sheet will be progressively written down to zero as profits are earned. Remember that Goodwill is created when you pay an excess for a business. Goodwill has absolutely no value as an asset other than to identify that you think that business has excess worth of the value of its assets.
The extent of Goodwill on our Balance Sheet is frighteningly high given the profit that is being generated. At some point (say 1-5, maybe 7 years) , there is no conceivable reason to have any goodwill. That then becomes a direct hit against profit. Vocus has already written down a significant amount of goodwill and the rest will follow. Profit outlook is not looking that good unfortunately.
I'm really mad at the volume of acquisitions and madder at myself for being caught up in the once "darling" of the tech world. Anyway, I would now be happy for an SP of $3 but that may be a stretch now. Only if we can get a sucker price for the NZ assets.

Bug, I appreciate your workings. Please explain the purpose of showing debt to ebit ratio? Debt should always be compared against assets. It shows what you actually own and more importantly don't own. You may make super profits for example but if your assets have a high maintenance or you have to spend large on growing your assets, then your "ownership" will highlight. debt to ebit maybe brilliant but it doesn't mean much.