these results include the disastrous spacelink venture through as well as the effects of COVID which significantly impacted the ability to deliver goods in 2020 and 2021 as well as having production run at capacity.
for instance in fy21 21m of spacelink costs expensed in Fy21 and Fy20 when eos were providing positive EBIT guidance for that year. 60m of spacelink costs in fy22.
new management team said they would strip out 20m in annual costs and made 100 roles redundant.
let’s see if they deliver this year as they also said they are looking to a 15-20% EBITDA margin in line with global peers. If they get eos back on track in the 2018/19 profit trajectory then we should be able to justify a higher market cap from here.
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