Hey BP, you have actually done a good job on here warning STrs about ERD. Called it a long time ago too, nice work.
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Chief Technecial Officer has gone to Datacom (BusinessDesk reports)
Doesn't seem any end in sight for the share price declne
Close today 123 ..... ouch ...seems to be an all time low
And 123 is a long way down from last years highh of about 670
Must come right one day? or a gone burger?
Today - Guidance for FY 23 is Revenue $154m - $164m (was $150m - $170m), and normalized EBIT $0 - $- 5m (unchanged)
Got to get my eyes checked …first quick read didn’t take in the significance if - in front of the 4 …..thought ebit going to breakeven to $5m and lising $5m to breakeven.
Reading between lines seems H1 pretty bad but cost savings in H2 will reduce FY loss
http://nzx-prod-s7fsd7f98s.s3-websit...842/382732.pdf
And F22 ebit was +ve (normalised) so F23 loss not goingbto be a good year in spite of all the big wins and contract retentions
ERD is gone burger
The good news is that Rev increased from 115m fy22 to 158m, 37% up, taking midpoint of forecasts.
The bad news is that normalised EBIT went from -0.9m FY22 to -2.5m. Getting different numbers from you winner, but still the same story.
Normalised EDITDA FY22 was 27.3m (EBITDA 21m). No forecast for EBITDA FY23 yet
It’ll be interesting to see how they’ve turned a 43m increase in revenue to a 1.5m increase in -ve EBIT.