Cheers and thanks for keeping this topic / conversation open...

Cheers and thanks for keeping this topic / conversation open @Ferginator.

This very informative and insightful video on Elysia might change your mind

The Elysia platform/product will be available to a whole range of different people/companies in a whole range of different ways. From automakers, fleet operators as well as packaging it to the individual. Have a watch. Let me know what you think.



You wrote;

The move to the USA is interesting. Gross Profit at 28% last year is not great although an improvement on the previous year which suggests some semi-variable costs - so as scale increases so might GP.

Correct, scale is what they're working towards and it will have a huge impact on GP.

I also see in the last FMG HY report that deferred revenues increased to $183m from $99m for FY23. It could be the soft revenues for WAE in H1 are due to timing of project completions.

Yes, possibly. Not clear at this stage.

BUT such intercompany transactions are (quite rightly) eliminated on consolidation so the level of activity within WAE is likely much higher than we are seeing in the FMG financial reports.

Yes, yes yes! I don't think we're seeing the complete picture here.

Visibility on WAE financials is limited

100% agree. I wish they would break each sub-sub-segment down to give us a clearer analysis.

Let's see what this looks like by the end of FY.

Tony