Ann: Energy Action FY20 Financial Results, page-2

As expected and well flagged a very disappointing result (particularly the ongoing loss of AAR contracts - likely accelerated under prior management, shoots of slowing under current). Some upbeat remarks are positive, but real Revenue is now half of 3-4 years ago, Debt reduction appears to be as a result of Covid one off?
Remember EBITDA is no longer a proxy for profit due to the new accounting standards.
Note that EBITDA forecast is $2m +10% for this year, real EBITDA (old fashioned pre AASB16) is (say) $1m
Current price 22c (M Cap is $5.7 + Debt $6.xm - real cash $1? = $12m EV) 12x EBITDA - feels very high for a company with declining Revenue.
Wishing them all the best - but I am not a buyer.. DYOR