The optimistic scenario : dividend distribution in FY 24 (3c or...

The optimistic scenario : dividend distribution in FY 24 (3c or 2.8 m$) corresponds to their normal policy of a 33 % pay-out.
That would mean a NPAT of 8.4 m$ and an EBITDA of around 10 m$ (as the company will probably not pay any tax in FY 25).
Or an increase of 43 %* for their EBITDA in FY 25.
Also corresponding to a free cash flow yield of 13 %.

Unlike the previous year, the company has not given any indication at its AGM.
So, it is difficult to know how its business is doing.
Only indications :
- the company doubled its final dividend for FY 24, while it knew that their FY 24 results were not good,
- unlike H2 24, there was no significant share disposal by their major shareholders during H1 25 (reminder : Amteal sold 700,000 shares at 0.80 $ in May 24).

* + 28 % for EBITDA 25 if we consider that H2 EBITDA was a one off.