Agreed its very complicated..Consider this thou, from the above...

Agreed its very complicated..

Consider this thou, from the above preso...

CAPEX in FY24 was $1B, and they only added 32MW in capacity..

Ahh, you say, but some of that capex will deliver MW in future years!

But equally, some capex from prior years contributed to the 32MW that was delivered in FY24......

In any case, I feel its a lot more than most people think.

Look at this line from the preso, where they claim total assets of 5.2B, and and only 2.4B in land and buildings... So less than half...

The fit out, and costs around adding capacity within existing land and buildings shouldn't be underestimated...