Summary of Historical Financial Performance and Directors’Forecast Financial Performance
Set out below is the Historical Financial Information and the Directors’ Forecast Financial Information for Treyo.
Forecast (3)
Forecast (3)
Historical (1)
Historical (2)
Forecast (4)
CY2007
1HCY2008
2HCY2008
CY2008
CY2009
($’000)
($’000)
($’000)
($’000)
($’000)
Sales revenue
66,170
31,430
46,805
78,235
134,230
Cost of sales
(54,275)
(24,751)
(37,000)
(61,751)
(105,386)
Gross margin
11,895
6,679
9,805
16,484
28,844
Gross margin %
18.0%
21.3%
20.9%
21.1%
21.5%
Other revenue
3,245
649
77
726
667
Overhead expenditure
(8,983)
(3,802)
(5,537)
(9,339)
(16,867)
Share based payments
-
-
(50)
(50)
(95)
EBIT
6,157
3,526
4,295
7,821
12,549
EBIT margin %
9.3%
11.2%
9.2%
10.0%
9.3%
Net interest expense
(415)
(254)
(338)
(592)
116
Net profit before tax
5,742
3,272
3,957
7,229
12,665
Income tax expense
-
(282)
(421)
(703)
(1,598)
Net profit after tax
5,742
2,990
3,536
6,526
11,067
Basic earnings per share (5)
n/a
n/a
n/a
$0.02
$0.03
Fully diluted earnings per share (5)
n/a
n/a
n/a
$0.02
$0.03
1. CY2007 represents the audited financial information for the year ended 31 December 2007.
2. 1HCY2008 represents the audited financial information for the 6 months ended 30 June 2008.
3. The Directors’ Forecast for 2HCY2008 and CY2009 is derived from the Directors’ Forecast Financial Information for the Forecast Period. A description of the key assumptions underlying the Directors’ Forecasts are set out in section 6.7 and section 6.8. The Directors’ Forecast Financial Information presented above has been translated into AUD from RMB using an exchange rate of 1RMB = 0.2222 AUD.
4. CY2008 represents the audited financial information for 1HCY2008 and the Directors’ Forecast Financial Information for 2HCY2008.
5. Basic and diluted earnings per share are not shown for historical periods as the earnings and capital structure are not indicative of a publicly traded company. Basic and diluted earnings per share have been calculated on the assumption that the maximum subscription is achieved. Options approved by the Directors for issue during the Forecast Period have exercise prices $0.35 to $0.85 relative to listing price $0.25 and have therefore been excluded as dilutive shares.
