well some of their cost base is in USD.....their production facility in the US (fixed costs & wages) and you can assume that a decent share of the raw materials are also not sourced from Aus (and/or in AUD)
Having said that, if their margin is constant YoY and they generated $USD10 last year vs this year than yes certainly FX will be a benefit, but realistically the business has done nothing to generate this and it could easily reverse very quickly in the current period
Ann: XTEK Group CEO - Henslow Investor Presentation 27 Jul 23, page-16
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