Ann: A$106 Million Fully Underwritten Equity Raise, page-134

I understood how you calculated
However, even with your "extremely stripped back basic calculations" it does not in any way result or equal a 'profit' calculation like what you have stated. Your "extremely stripped back basic calculations" is a revenue calculation or essentially one of the first lines on a financial statement
Obviously, there are many more calculations to be had and made before you can conclude a profit ... hence why I said:
"You need to re-check the figures you are using
PEN will NOT be making ~$69m profit for 2025"