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clock Created with Sketch. 30/08/16
22:55
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Originally posted by bensterz
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By rummaging through the notes to the accounts there is, on a pro-rata basis, about $60m in revenue from FY16 acquisitions which are not in the FY16 results but would flow through in FY17. So $320m sales revenue at 14% EBITDA margin (with no growth in underlying revenue) gets you to $45m pro-forma EBITDA. Income outside of sales revenue ($2m in FY16) would get you to about $47m. Potentially synergies as the acquisitions are bedded in could get EBITDA to $50m+.
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Should also have mentioned the SP calculated above also assumes no net increase in the number of shares on issue (which might be a more realistic assumption now that a proper debt facility is in place).
