These guys are ridiculous.
Had to dig through the notes to the financial report to understand the impact of adopting the revised lease accounting rules on EBITDA. It turns out EBITDA got a $3M boost from this accounting change (see extract below).
The previous results are not restated, so on a comparable basis to previous periods EBITDA was actually $1.1M.
Good luck finding any disclosure of this in the results presentation.
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- Ann: H1FY20 Results Presentation
Ann: H1FY20 Results Presentation, page-32
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