ONT 1300 smiles limited

Full year Results, page-22

  1. 1,070 Posts.
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    Cammeray & BOH were acquired for a combined $10.556m. PBT in FY14 was $7.373m, of which Cammeray & BOH contributed $278k, so without those acquisitions PBT would've been $7.095m. If those acquisitions were done on 1 July 2013, PBT would have been $9.542m. We can therefore deduce that ONT paid $10.556m for two businesses which in FY14 earned (9.542-7.095) = $2.447m, or that they paid 10.556/2.447 = 4.3x EBIT multiple.

    Entirely consistent with ONT's ~4x EBIT multiple paid. Or 25% return on purchase price.

    But i'm sure you've got a different interpretation?
 
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