EML Chart, page-992

you had the q1 revenue increase ~30% pcp and that was with the headwind of delayed program implementation.

i don’t think there will be any jaws in ebitda this half as business has taken a step up in the cost base which I am expect to be equivalent to the increase in revenue.

really need the company to explain the headwinds and tailwinds for
gross profit - interest rates, in house processing synergies, Launching on the NPP and maybe non scheme payment rails

cost of doing business expenses: cost of Cbi remediation, increase of compliance roles, insurance and legal fees for class action ( and what is the exposure since I believe we are covered for this in the insurance)

as we return to a COVID normal world, I would really like to know what contribution the ‘COVID induced programs’ are having on the revenue line. Tom mention at the eml con that most of the presenting companies had been pushed to eml because of the COVID disruption. If somehow we could categories these programs compared to other programs in the normal course of business that would be interesting.

the cash balance will also take a hit. I expect op cash inflow of maybe $20-40m (in-line with editda) to be offset with the payment for nuapay (60m?) and the upfront funding for rhe residual card balances (30m?) + any new &unexpected investment into project accelerator.

speaking of project accelerator given we are nearly 2 years into the 3 year plan, need to work out how this is unfolding - ie rhe fin tech investments, 10-15 capex on software + nuapay