If you go back before then it gets really messy. They don't talk in "operating EBITDA", and it's a different management and presentation team. but yes there was only losses before that point too, and even (failed?) acquisitions. I basically just pretend they come into the chart with a loss making TNT SOC entity, which is about all they had.
If you go back before then it gets really messy. They don't talk...
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