"@@madamswer Think it was defined as pro-forma EBITDA ... before tech costs.
Not sure how much of that tech costs is in the investing bucket vs the operating bucket."
"EBITDA .... but before tech costs"?
So they've taken an already-rubbery non-AIFRS financial measure (which has become even more rubbery as a metric in recent years following the adoption of AASB16) and they've added their own personalised touch to make the metric even less reliable.
Not too many steps away from EBE (Earnings Before Everything)
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"@@madamswer Think it was defined as pro-forma EBITDA ... before...
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