There seems to be a bit of confusion around the Mocka earn-out payments.
The ~$45m is due to be paid in Sep. It has been provisioned and sits in the balance sheet at 30 June, you can see this in the balance sheet reconciliation in Mark’s pres.
It increased by ~$10m from Dec 20 to Jun 21 due to the performance and the pull forward negotiation, in order that Mark & Ash could make the management and IT platform investment that is necessary to sustain Mocka’s trajectory.
This ~$10m was expensed thru the P&L this period, which accounts for the difference in stat EBIT and “Underlying EBIT”
This is very good news for shareholders, even though at a simple read it might seem that some of the gloss had come off.
There seems to be a bit of confusion around the Mocka earn-out...
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Last
$1.88 |
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-0.015(0.79%) |
Mkt cap ! $328.4M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| ADH (ASX) Chart |