Ann: AGM Presentation and 2021 Financial Guidance, page-48

Based on the posts above I think several of you need to rethink your investment thesis regarding EOS if you're expecting profitability and dividends in anything under five years.

Space and Comms will swallow any and all profits from Defence until at least 2024. And beyond that Space is likely to devour the combined proceeds of Defence and Comms at least until 2026, and possibly beyond depending on how global and technology conditions develop. Instead of profit the company will be focused on its physical and intellectual assets. I expect my return on investment to come in the form of capital growth.

The only way around this would be for EOS to carve out Comms and Space and float them independently. But doing this would create the risk of losing control of one or both, and the synergies between all three business domains are too valuable for that risk to be acceptable.

So if that doesn't look like a suitable investment for you money it might pay you to look at other options. Otherwise I think you're going to be venting your spleens on HotCopper four times a year because every report will fail to meet your expectations.