Yes the NTA is sensative to the debt and I think while the business generates an EBITDA above $20m it will be paying down debt.
I am not quite sure what happend to the $8.7m and whether this has already been included in the EBITDA for last year and/or the first half of this year.
Having said that The NTA could be $1,000/share but with the continual issues with Ausgrid the SP will always trade well below the NTA.
AEJ seem to have a win and then another set back!
If they can just get a free run Im sure the board could lock in funding better than the current 8.05% on a longer term basis and we should then see the SP start to move significantly in the right direction!
AEJ Price at posting:
$7.20 Sentiment: Hold Disclosure: Held
