Ann: Half Year Accounts, page-49

James, thanks a million for that explanation, at long last it all makes sense.

The devaluation of the local currencies in Venezuela and Argentina would possibly be hitting the sub contractors hard, particularly where they have to source some material in USD.
However for Fluence the recent major expansion of their factory in Argentina could be a very good move
and allow manufacture of Nirobox, Aspiral, etc, at very competitive prices.

Looking at the broader picture the large majority of revenue for FLC is priced in USD or Euro and with the US currency going from strength to strength FLC should be very well positioned.
In a way it's a shame the accounts when they reach profitability in future will not be shown in AUD.
A$ at 0.60 would throw up pretty good numbers.

regards, EB