The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Declan, can you hear me okay?
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Yes. Congratulations on solid results. I just thought I'd sort of unpack your outlook comments initially where you sort of talked to the volatility or
the impacts of COVID in New South Wales and Victoria being significantly mitigated. So is it correct -- should I interpret that mitigation to mean
that you'd expect your second half '21 EBITDA run rate, that sort of $17 million, sort of continuing on in this first half '22? Is that the correct way to
interpret that mitigation comment?
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Terrific. And can you maybe just talk to, I guess, where are some of the, I guess, growth you're seeing across the business at the start of the first half
'22 and just talk to, I guess, what are often the impacts being experienced in New South Wales and Victoria across various verticals?
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: And I guess given IT is sort of in a bit of a downturn in the initial lockdowns in Victoria, I guess you highlighted a very positive outlook for that
business again in FY '22. So you're not sort of concerned by the Melbourne lockdowns at this stage on the IT business.
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: And can you just sort of remind me, I think there's about $9 million of EBITDA you're expecting from the acquisitions you completed in FY '21. Is it
fair to assume that, I guess, that contribution would be reasonably evenly split first half, second half in FY '22?
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AUGUST 26, 2021 / 12:15AM, PPE.AX - Full Year 2021 People Infrastructure Ltd Earnings Call
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Yes. Understood. And maybe just a question on the cash flow. It looked like there was a significant increase in receivables in the year, and I think
you sort of flagged the impact of the Techforce acquisition there. I guess was that sort of the driver of the increased receivables? And have you
seen that sort of working capital build release in the first half of...
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Understood. And I guess your M&A comments too are pretty clear. I guess if these recent lockdowns are sort of slowing, I guess, your sort of intention
to pursue M&A in the near term.
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Terrific. And I guess you also made that comment too on the pack that you're sort of saying that there's no real -- I guess there's not a lot of increased
competition for acquisitions at the moment? Is that sort of what you're highlighting?
Question: Kurt Gelsomino - Morgans Financial Limited, Research Division - Analyst
: Yes, sort of a comment on the pack there, on the slide.
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AUGUST 26, 2021 / 12:15AM, PPE.AX - Full Year 2021 People Infrastructure Ltd Earnings Call
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