Great stuff mate. ARPU is extremely important to the valuation. I probably wouldn’t approach it in a bottom up way like you have as we will likely get the number in the 2021 presentation pack.
When I have some time I might run some sensitivities on ARPU to earnings and a DCF.
I guess we’re expecting a NZ market announcement any day now?
Ann: Quarterly Update - Strong Q4 & Large Increase in FY21 Sales, page-22
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