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198 Posts.
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23/08/17
16:22
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That would be the tiniest amount. Lets run a hypotethical scenario to see what would happen to cash flow if working capital remained the same.
If EBITDA improves from $366m FY17 to $390m in FY18 that adds $24m in cashflow with no change in working capital as you say. ASC costs more than $24m.
Lets say EBITDA is $370m then, improvement to cashflow is $370m - $366 = $4m with all other variables remaining constant.
In either scenario, still not enough cash for the ASC. Do you honestly believe this company is a cash cow? It's not adding up.
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