What good are earnings if you never see any of it as a...

What good are earnings if you never see any of it as a shareholder?

	Column 1	Column 2	Column 3	Column 4	Column 5
0		2013	2014	2015	SUM
1	EBITDA	28	34	44	106
2	NI	18	22	30	70
3	FCF	2	10	7	19
4	% EBITDA	7%	29%	16%	18%
5	% NI	11%	45%	23%	27%
6
7	Capital Raised	16		34	50
8	Dividends Paid	2	5	6	13

Table highlights extremely poor cash conversion