Anyone explain why the energy segment on slide 11 has EBITDA at...

Anyone explain why the energy segment on slide 11 has EBITDA at $14.4m for the 12 months to June 2017 yet the summary financial slide 16 has underlying EBITDA at $2-3m . Even after taking out the underlying opex, there is still a few million different.

All hinging on how this NBN plays out in my view .. going to be tough, given they are effectively competing with TPG in terms of their price point and offering. With TPG having all the infrastructure, support etc ready to go.

I find the foray into mobile handsets interesting as well, given the reasons they historically hadn't gone that route.

Still buying the brand here in my view, is it worth half a billion a year or so will tell.