Amusing to see DCG get a run in today's AFR cover story.
Decmil presented adjusted EBITDA of $8.1 million when it had a statutory loss of $1.5 million. Craig Amos, chief financial officer, says the company does not take a view that one is more appropriate than the other. Decmil experienced what Amos describes as "extraordinary industrial relations issues and also significant weather events" during the half, as well as discontinued operations and restructuring costs. Those issues were "extraordinary" in the context of the company's 40-year project history.
"We have presented the above items separately to give analysts and investors transparency to form their own view on the ongoing or normalised EBITDA position of the company," he says.
Perhaps next week they'll do a similar story but focus on cashflow instead of EBITDA...in which case DCG should get another mention, given their cashflows were bumped up by about $14m for reasons including Hastings (as noted by @Crumbed Cutlet above).
DCG Price at posting:
91.5¢ Sentiment: Sell Disclosure: Not Held
