I agree balance sheet is not the best. Debt/Equity now around...

I agree balance sheet is not the best. Debt/Equity now around 90%, however interest coverage at 5.7x provides some comfort. Intangibles are at a worrying level ($254M). They comprise 74% of total assets and 154% of equity. Notes accompanying the balance sheet indicate most of the intangibles are in the form of Goodwill. This is initially measured at cost and reviewed annually for impairments. There were no impairments recorded FY18.
Good question on 'what do they do other than basics'. Their business model has clearly changed in recent years.