And Green Packet Says The Magic Word Once More

Guess what article I saw on the Star Biz? Green Packet on track to achieve EBITDA target

EBITDA target again???

Quote from today's papers:

• Green Packet Bhd is on track to achieve its EBITDA (earnings before interest, taxes, depreciation and amortisation) break-even target by this year-end, according to the group's managing director and chief executive officer Puan Chan Cheong.

New entry alert!!

LOLOLOLOL!

Flashback: (refer posting dated 17 feb 2011: Green Packet Makes More Promises.... again. )

• Feb 2008: we expect the WiMAX business to be ebitda (earnings before interest, taxes, depreciation and amortisation ) break-even this year,"


• May 2008: we are targeting EBITDA positive by end of next year.


• May 2009: P1 will be EBITDA will break-even from next year.


• Feb 2010: concurred that will be EBITDA positive in the second half of this year.


• May 10: the company remained optimistic that it will be able to achieve an Ebitda break even


• June 2010: Green Packet Bhd’s target to turn earnings before interest, tax, depreciation and amortisation (Ebitda) positive by year-end may be delayed to next year


• Sep 2010: Puan added that Green Packet is maintaining that its Ebitda (earnings before interest, tax, depreciation and amortisation) will break even by the end of this year.


• Nov 2010: "We're confident of breaking even no later than the first quarter. Ebitda (earnings before interest, tax depreciation and amortisation) turnaround is really at the corner," chief executive officer C.C. Puan said at a press conference in Petaling Jaya, Selangor, yesterday.


• Feb 2011: defers its target of being EBITDA (earnings before interest, taxation, depreciation and amortisation) positive to end-2011.


• May 2011: Green Packet Bhd is on track to achieve its EBITDA (earnings before interest, taxes, depreciation and amortisation) break-even target by this year-end, according to the group's managing director and chief executive officer Puan Chan Cheong.

So Green Packet announced its earnings last night.

On Feb 2011, I posted Green Packet: 12th Consecutive Quarters Of Losses, 36 Month Of Losses And ...

I shall re-use that same template. ( Lazy lah)

Some facts. (new comments in black bold)

Fact. It lost some 100.112 million for the quarter. (It lost some 37.893 million for the current quarter)

Fact. This is the 12th consecutive quarter of losses. 36 months of losses. (13th consecutive quarter of losses. 40 months of losses)

Fact. Green Packet's total losses for last 36 months equals some 439.924 million! (Green Packet's total losses for last 40 months equals some 477.817 million!)

Fact. Green Packet raised some 98 million via rights issue last Aug. 2009.

Fact, Jan 2010. Green Packet raised some 69.176 million from a share placement.

Fact, Green Packet recently raised 322.910 million from issuance of Convertible Preference Share to SK Telekoms. ( see Sep 2010 posting: Update on Green Packet )

Fact. After tonight's earnings, Green Packet said it had some 171.962 million and some 238.190 million in borrowings. (After tonight's earnings, Green Packet said it had some 90.462 million - wow! where the money went? money heaven? And borrowings soared to 367.888 million!!!!)