Ann: HEALTHIA ANNOUNCES NEW QLD AND VIC GROWTH ACQUISITIONS, page-2

I like the level of detail with this disclosure, however it is still a little hard to piece together what FY20 might look like.

Are they saying that this ~$3.25m additional EBITDA acquired is on top of the ~$9.0m FY19 forecast in the prospectus (attributable to shareholders)?

If so and assuming they meet their baseline forecasts, then some rough calcs:

FY20 EBITDA (attributable to shareholders) = $11.6m ($9.0 forecast + $3.25m*0.8 allowing for shareholder class)

NPAT is a little harder to figure out without knowing their debt levels etc.

Based on a market cap of $51m, this would be an EBITDA trading multiple of ~4.4x

Have I missed something here?

All IMO and DYOR