Ann: FY24 Guidance and Company update, page-30

Obviously, that's interesting to find a defence-related stock at such a low valuation.
At 22 c, the stock has an EV/EBITDA 24 of only 4.1 x if we annualise H2 24 EBITDA (H2 24 EBITDA annualised of 4 m$)
It is even much cheaper if we look at the EBITDA reached in FY 22 and FY 23, when it was around 10 m$.
I need to look at these 2 years to better understand if we can expect rapidly a return to this kind of results.

Also good to see that this EBITDA improvement during H2 has also led to a significant improvement for their cash position, even if they benefited from some one offs (cash improvement during H2 was much higher than EBITDA).