I think the 7.2m is not included in what they call ebitda
No worries then
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Not sure I would use the term "all good" in the context of Rakon, but yes, they said that they will magically maintain their forecasted EBITDA despite the outcome of the unexpected revaluation.
Will be interesting to find out what financial acrobatic they have to go through to achieve this.
Banking tax credits seems to be the flavour of the month (but I don't know, this is just what some other companies did recently).
Of course - how could I miss that.
EBITDA is per definition without revaluation gains or losses, so yes, all good for EBITDA. :t_up:
No question though that the amount will be sadly missed on the bottom line :scared: : NPAT will look less healthy (assuming they write these days a profit, do they?).
Results tomorrow...
As usual my gut feel would be no dividends for this year too..
Also read an article in NBR about their goof up with regards to the Thinxtra NPAT reversal... when NBR asked them about it, the answer was "No comments"... How convenient eh?
NPAT down.
"Rakon Limited (‘Rakon’ or the ‘Group’) posted a net profit after tax of $3.4m (FY18: $10.0m), and Underlying EBITDA of $13.3m (FY18: $12.1m) for the year ended 31 March 2019. The Group’s Underlying EBITDA was in line with earlier guidance provided of between $12m to $14m.
The prior year’s $10m net profit after tax included $8.8m of gains recognised in relation to the sale of property in Argenteuil France. It also included the dilution gain and sale of shares in Thinxtra Pty Limited."
Here's the link.
Disc - don't hold, just watching.
no surprises here - LOL.
Funny thing is that people called me a cynic when I eluded to their misvaluation impacting on the bottom line, but I guess this is probably just the impact of the endowment effect.
Some more material for winners behavioural economics friends :p;
https://www.nzx.com/announcements/337956
Spending spree continues...