Ann: VMX Appendix 4E and Financial Report, page-10

A bit amateurish not including a presentation today that explains the gap between EBITDA and Operating cash, and true comparison to PCP.
The $2.6m acquisition reversal is an abnormal non-cash item and should have called out when guidance was announced. This contributes to the cash gap. I suspect the other portion of the gap is EBITDA booked on John Holland project, but cash not received.
Hope we see more detail on this tomorrow.