absolutely shameful

a kick in the guts today for shareholders. mgt is a complete disgrace. covenants will be breached, or will come within a whisker of being breached.

so revenue will be 45% lower than 2008 = 0.55*1839 = 1011m

and EBITDA margin will be 11% = 0.11*1011 = $111m

which is a whopping 68% decline on 2008

imo this dog deserves to be trading at these levels.

analysts were forecasting up to 40% ebitda drop this year but this is unbelievable. sack management imo.

also, what happened to paying off $150m of debt this year?

now that figure is more like $97m if they achieve that at all.

also looks like it will take 7 months to refinance the debt. and they need external advisors? LMAO. so that's another $20-30m that will be blown on investment bank "advisory" fees.

she will be stuck at these levels until the end of the year