The press often reports a2 has 1 billion dollars in the bank to play with.
Looking at page 91 of the 2024 Annual Report (Consolidated Statement of Financial Position) it reports cash at $968,943,000.
But page 91 also reports trade and other payables at 347,569,000 (current liability)
I think most companies would want to have cash available to pay current liabilities in case cash cash flow is interrupted.
Thus I think a2 has 968 million less 347 million i.e. 621 million as "free" capital to spend. Which is less than $ 1 per share.
So any acquisition has to be a very good one and meet two needs:
1. Improve earnings per share
2. improve supply chain.
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