Ann: Update and FY24 Guidance, page-24

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    DDH Depreciation went from $20M in FY21 to $30M to $50M in FY23.

    If depreciation for DDH for 2024 was anywhere over $60M then the update appears to be an upgrade: better EBIT(A) for the combined entity and lower capex and better revenue overall because the combined entity exists from early October (which is only three quarters of the financial year).
 
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