Hi All,The 1H21 results will be released on 18 of February 2021....

Hi All,

The 1H21 results will be released on 18 of February 2021. I have checked the results from the last year in conjunction with the 2H20.

I was very surprised to find in the 2H20 (January 2020 - July 2020, please be aware during this time the COVD-19 started) they made more revenue and EBITDA compared with 1H20 (July 2019 - December 2019).

Any thoughts?

Please see below my notes

A. GroupFY20 revenue A$274.2m – full year (July 2019 - July 2020)

For 1H20 revenue increased 6% to A$135.1m

By making the subtract between full-year results and 1H20 revenue that means during 2H20 – January 2020 – June 2020 they made 139.1 m (274.2-135.1) compared with 135.1 (1H20)

My Revenue estimation for 1H21
139.1 m - estimation 1H21 as the previous half-year (2H20)

or
137.1 – same as last year –estimation 1H21 based on full-year results.

or

109.68– just 80 % as advised – estimation 1H21 based on full-year results.

B. GroupFY20 EBITDA A$57.8m.

For 1H20 EBITDA increased 7% to A$25.5m.

By making the subtract between full-year results and 1H20 EBITDA that means during 2H20 – January 2020 – June 2020 they made 32.3 m (57.8-25.5) compared with 25.5 (1H20)

My EBITDA estimation for 1H21
32.3 m - estimation 1H21 as the previous half-year (2H20)

or

28.9 – same as last year–estimation 1H21 based on full-year results.

or

23.12– just 80 % as advised - estimation 1H21 based on full-year results.

C. GroupFY20 NPAT A$40.1m.

For 1H20 NPAT increased 21% 2 to A$19.8m.

By making the subtract between full-year results and 1H20 NPAT that means during 2H20 – January 2020 – June 2020 they made 20.3 m (40.1-19.8) compared with 19.8 (1H20)

My NPAT estimation for 1H21
20.3 m - estimation 1H21 as the previous half-year (2H20)

or

20.05 – same as last year - estimation 1H21 based on full-year results.

or

16.04– just 80 % as advised