Valuation, page-166

Yes, my question to them on JobKeeper was mainly because they do not mention it anywhere.
Other companies which have this kind of profit recovery are happy to mention that they have done it without the help of JobKeeper.
Let's see what they say.

If H1 results are representative of what they can achieve in the future, the stock is really cheap, in particular their free cash flow yield.
Fully agree on your point about diversification. Nice to see that their new businesses now represent 34 % of their sales vs 5 % 3 years ago.
Their development both in the US and Singapore look also interesting.

Thanks for mentioning the CEO speech at the AGM.
Need to have a look at it.