Ann: H1 FY21 Results Presentation, page-21

G'day S.

H1 FY'19 Operating cashflow was -$342m on receipts of $4.117b thats a loss of 8.3 cents in the dollar.

H1 FY'20 Operating cashflow is -$527m on receipts of $8.444b a loss of 6.2 cents in the dollar.

So at what point does operating cashflow break even?
Perhaps it is receipts between $15b - $20b

Margin pressure is coming which will make the break even point on Op Cashflow even higher.

APT is going to consume so much more capital and it is hard to see big investors being patient forever.