Generated free cash is terrible for the year:
Generated EBITDA of $280m but only $9m of that fell into the bank account. Balance was consumed by:
Tax paid $86m (including a $59m "tax balancing payment")
Working capital $24m
Finance costs $32m
Purchase of PPE $32m
Lease payments $12m
Onerous contracts $42m
Project Code 7+ $22m
Share buyback $15m
Other items $8m
It is no wonder that the share buy-back was anemic through FY23 as all the generated cash was being gobbled up elsewhere and they did not want to increase debt for a buy back. It is also not surprising that they have not paid a dividend (again borrowing to pay a div makes no sense).
Ann: 2023 Annual Report, page-8
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Last
17.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $269.3M | |||
| Open | High | Low | Value | Volume |
| 18.0¢ | 18.0¢ | 17.5¢ | $69.79K | 396.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 66612 | 17.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.0¢ | 589545 | 14 |
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