More Ducks and Drakes from TPI .... Operating Cash Flow pre landill remediation = $190m in FY15 which is likely to improve to ~$215m next year as "margin improvement" from the Boral deal for Melbourne Landfill feeds though. However Stay in Business Cap Ex is now running at $165-190m per annum (because the costs associated with the Melbourne Landfill Deal are not going to be expensed in the P&L, they will be taken through the Cap Ex line .... what a joke!!!) plus they are now going to spend $50m pa on landfill remediation through to 2020 (well in excess of previous expectations).
So FCF is going to be breakeven at best for the next 5 years?
No wonder they have a DRP in place now.
Who knows, another capital raise perhaps?
Ann: 30 June 2015 Results Presentation, page-2
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