Ann: FY23 Results, page-9

Looking at the FY24 cost guidance they are talking about taking cost/sales from 88% to 80% next year.

If I understand this correctly this would then result in EBITDA margin moving from 25% in FY23 to 33% in FY24.

Even if we had no revenue growth this would equate to a little over 30% in EBITDA growth in FY24.

And then if they can land the majority of the disclosed pipeline then there is potential for an even better result than this.