Ann: FY18 Full Year Results - Investor Presentation, page-38

	Column 1	Column 2	Column 3	Column 4
0		FY18	FY19 (Target)	Comments/Assumptions
1	Revenue	$878.70	$949.00	Assume 8% increase in revenue
2	Underlying EBITDA	$97.60	$105.43	Assume same underlying EBITDA Margin
3	Underlying EBITDA Margin	11.11%	11.11%
4	Interest	$14.20	14.19	4.7% interest rate on $302M debt. Assume no increase in further debt as cash flow from operations is enough to cover capex requirements.
5	Depreciation & Amortisation	$27.90	$29	Assume slight increase in D&A.
6	Net Cash from Ops	$65.6		Assume CFO is enough to cover capex ($74M capex in FY18 but will reduce to $50M).
7	Capex	$70	$50
8	Profit Before Tax		$62
9	Tax		$19	Assume 30% (should be less than 30% in FY19)
10	NPAT		$44	This has not taken into account the $10-$13M cost reduction, which will then increase the EBITDA Margin.

The news that will appear next August is: Greencross has increased profit by 112% for FY19!