ripper results, page-9

Free cash flow will be higher
due to
- 1 costs being lower including financing costs
-2 the repricing of contracts has occurred progressively and is still is ongoing. A contract repriced in Oct 23 for example will only have a Nov/Dec impact in the results but the full impact going forward
-3 they mentioned the exit of a few remaining marginal and loss making contracts - that will improve cash flow
-4 new style contracts have strong cost escalation so no more margin and cash flow slippage


I attended the webinar and also had post webinar chat

Very comfortable where things area at, as they are. They see opportunities and they see the risks they have to mitigate

Growing assets ( NTA)

Interestingly. recent asset sales resulted in a profit which reflects NTA as previously flagged may be on the conservative end

Personally, i don't think we can underestimate the change of treating labor as a cost and profit centre is a stepped change in how the business is run

They are good outfit, and the MD is switched on, not a natural presenter but a smart operator. CFO is also great

Relative to the old team, these guys ae 1000% better