How do you work that out?
Their reported gross profit per customer is average $8.01/month.
On a different topic, I wonder if some debt is on the cards.
For 1H16 they reported $690k of operating cashflow but claim that it was impacted to the tune of $9m by early payment of suppliers to make use of discounts.
So let's assume their half yearly cashflow is ~$9.5m pre-Vaya.
They need to pay Vaya's vendors $5m, plus $11m in Feb 16 to Optus for Vaya's debts, and $39m in 23 monthly instalments thereafter.
So for 2H16:
+ $11.6m in the bank at 31 December
+ $9.5m in operating cash (plus some contribution from Vaya)
- $5m payment to Vaya vendors
- $11m to Optus for Vaya debt
- $6.8m (4 x $39m/23 monthly instalments to Optus for Vaya debt)
- $5.3m dividends (3c/share dividend declared today)
Total of -$7m.
It's hard to imagine that Vaya could make up that shortfall given that Amaysim is 5x larger customer wise.
Can someone figure out where I've miscalculated?
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