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ChickenNuggets

1,096 Posts.

44

17/05/21

18:20

Post #: 53230171
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Originally posted by KKLL: ↑

This is my take on the FY21 Q3 Appendix 4C and the Bid Cost Analysis (p13) in the presentation.

The FY20 Q3 costs ($000s) total $7,354 :
R and D = $1,137
Adv/Mark = $134
Staff = $3,106
Admin/Corp = $2,977

The breakdown of the cost base from Dec20 to Mar21 (4 months) is shown in the pie chart (p13):
Offshore Support = 14%
Fixed Costs =63%
Sales/Mark = 23%

The actual FY21 Q3 cost base can be estimated using the above distribution:
Offshore Support = $1,030 (14% of $7,356)
Fixed Costs = $4,634 (63% of $7,356)
Sales/Mark = $1,692 (23% of $7,356)

The presentation suggests that Automation acceleration will directly impact 65% of Offshore Costs ie 65% of $1,030 or $670 and indirectly impact the remaining 35% ($360) of Offshore Costs.

My reading of the presentation is that BID expects ongoing Fixed Costs ($4,634 in Q3) to be 'covered' by Revenue (although there was a shortfall in FY21 Q3 as Receipts were only $3,986).

The FY21 Q4 report will be interesting!

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Does this mean that their gross margin is currently flat/negative?
BID Price at posting: 56.0¢ Sentiment: Buy Disclosure: Held
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