FY23, revenue 27.2 EBITDA 9.8 - Cost 17.4M
FY22, revenue 21.5 EBITDA 4.3 - Cost 17.2M
So looks like the cost will be around 17.3M, considering that, FY24 will have EBITDA around 23.7M, FY25 will be around 6.7M. But by looking at FY23 EBITDA, I believe FY25 EBITDA will be higher than this estimation, which will be well over 6.7M, should be seating somewhere close to 8M.
Just very rough estimation. Happy to collect your thoughts.
Ann: Update - Kobe Auction June 2024, page-21
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