Ann: Swift Buys Digital-Out-Of-Home Media Network, Medical Media, page-11

Re GP and EBITDA metrics, have a look at page 30 of the presentation. “Implied multiple is not more than 6x earnings for every milestone and significanty lower than recent M&A activity in Digital out of Home sector”
So I read that as follows: at $10 mill revenue their acquisition cost is $10 mill and their earnings are $1.6 mill. At $13 mill revenue their acquisition cost is $25 mill and their earnings are $4.5 mill (not sure if their use of the word earnings means EBITDA or NPAT)