They have got some expenses down but have a long way to go to become profitable.
Surely you have also seen the +170.1m$ OBL-only FV PBIT shown on slide 12 of today's presentation. Don't you think the real value generation lies somewhere in between, especially given that the current run rate of FV conversion is above 100%?
Take also into account that the statutory -32.6m$ loss is driven by NCIs in vehicles that have now been monetised, i.e. they will no longer contribute to P&L.
OBL Price at posting:
$1.26 Sentiment: Buy Disclosure: Held
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(20min delay)