I don't disagree with anything but the year LOL
TLS aren't actually charging anything until June 30th so FY 2021 will be the first a single cent is derived from 5G.
I certainly don't disagree with the numbers you've provided and think the assumptions/ projections used seem quite reasonable, I'm definitely looking forward to FY 2021 being very positive, FY 2020 I think will mark the bottom of the earnings cycle for TLS for several years, certainly the market seems to have woken up to this fact looking at the PE multiple TLS is trading at currently.
I'm expecting some more clarity around future earnings from TLS in the upcoming results now that so much of the heavy lifting is done in the efforts to restructure and prepare for a post NBN completion market which is fast approaching.
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