Net debt is 66.8 million after the recent capital distribution. 42.8 mill is at year end so no they won’t generate sufficient cashflow to pay it off (unless they can convert a large chunk of inventory into cash). Having said that, debt is very comfortable, at just over 2X EBIT.
Avg still have 26 million worth of tax losses to utilise, so they won’t be paying any tax expense for a good part of 3 or so years, another buffer to assist their cashflow generation.
Ann: AVL FY21 Results Presentation, page-7
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