consumer 4yr leases, page-2

This is still the key to TGA.
Updated info was that the 4yr leases started in FY14, so they should start rolling into this year.

The key to a turn around in TGA will be evidenced by the turn around in installation volumes.

Installation volumes heavily impact immediate profit and their profit impact tapers downwards as the contract continues. Cash flow on the other hand is more even.

Thats why curently we are still seeing cash flow looking good. But future cash flow will still require current installations to start ticking up.

FY17 installations 122k
FY18 installations 82K

I will be closely watching 1HFY19 installations when they present in 2 months time.

Until then as mentioned in a previous post, I have offloaded most of my position. I don't want to be caught in a value trap.