There will be 3 key metrics to look out for amongst the noise that Mota and team will try to hose (hide) down.
1. Average / EOP FUMA - which is significantly lower YOY 2. Cost savings run rate. 3. Resulting EPS
The average consensus FY23 EPS is 29.3cents, first half was 14.4cents so to beat expectations IFL need to make 15cents in the 2nd half.
Given FY23 2nd half FUMA is higher than 1st half then this should be enough to get there.
Any additional EBITDA from cost synergies (which i am expecting BIG TIme in the 2nd half) should help it a long - basically the annualisation of all the synergies till H1'23 (assuming what they say is legit)
what could also do is some clarity around its balance sheet.
i'm currently in AMP but looking to pivot into IFL in the next few weeks - but imagine a combined AMP / IFL - what a dinner date.
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