I think, it’s because they really just started the production phase not too long ago, the cost of new facilities and equipment are included which greatly reduced the operation income for the first few years.
One of the best part in the announcement is that they has break even. Which I think is earlier then expected.
Just my own opinion
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- Ann: Quarterly Activity Report & Appendix 4C - 30 June 2020
Ann: Quarterly Activity Report & Appendix 4C - 30 June 2020, page-46
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