One of the surprising element for me was the breakdown of published EBIT.
As indicated above, all the EBIT from Bedshed (5 m$) is offset by the loss of the other activities.
Looking into more details, it is explained by a loss of 1.2 m$ for Crave (start up cost), but also a loss of 4.6 m for others.
The only explanation I can find for this loss of 4.6 m$ : probably the high level of remuneration for their key management personnel, which was 4.5 m$ in FY 23 vs 4.1 m$ in FY 22 (fixed remuneration was 2.4 m$ in FY 23 vs 2.2 m$ in FY 22).
Some of this may be included in the EBIT of KWB and Bedshed, but I don't have more details about it.
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