Quote Originally Posted by J R Ewing View Post
I am having some difficulty reconciling the $60 mil EBITDA with the $8 mil profit. There is $20.9 mil debt servicing on a debt of $187 mil, but where is the other $32 mil of EBITDA?
The 08 accounts had EBITDA at $37.9m - less D and A of $4.3m less I of $21.0m less tax of $4.6m gave NPAT of $8.0m

It was quoted above that F09 EBITDA would be $42m which sort of implies maybe NPAT around $11-$12m

Where did you $60m EBITDA come from JR?

They had better do a magic -- say EV of 6 times EBITDA would give a valuation of $250m but heck last accounts said about $200m of debt ... which doesn't leave much for equity does it

Better make it 10 times EBITDA then to make it respectable ... easy as