They disclose Zoleo Inc's summarised financial position in the annual report. This is 2021 and 2022 breakdown from "Note 12. Interest in joint venture" on Page 35 if you want to look it up yourself:
At the very least there is a strong indication or plausible pathway to operational profitability in the JV vehicle for FY23, and the commentary from Beam in the 4C saying that Zoleo Inc's performance is now material to the group seems to further suggest so.
This table below are my assumptions for what 2023 could look like, assuming only modest increases to operational costs. The revenue figures are known quantities, but not the op expenses.
If there is a positive contribution from Zoleo Inc it is not included in BCC's profit result as it is not a controlled entity (BCC only owns precisely 50%), although it is very real value for BCC shareholders if it is operationally profitable in itself.
BCC Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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