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So I have been trying to understand where this positive cash-flow might come from.

The financials 2014 to 2018 reveal the following (all compounded):

COG + 10%
Sales + 5%
CapEx (-16%)

Hence the losses and poor showing.

Now as the 2019 annual report is not in, some guess work has to be substituted:

Sales +23%
COG +6%
CapEx +2%

So if these figures (kinda/sorta) workout, then yes, SEA could show positive cash-flow. My concern would be: if the CapEx was where it should be, would SEA still remain cash-flow positive? Further, the underinvestment (if this is correct) would come back to haunt SEA at some point in the future.

Thoughts?

jog on
duc

[QUOTE="ducati916, post: 1040160, member: 2975"] So I have been trying to understand where this positive cash-flow might come from. The financials 2014 to 2018 reveal the following (all compounded): COG + 10% Sales + 5% CapEx (-16%) Hence the losses and poor showing. Now as the 2019 annual report is not in, some guess work has to be substituted: Sales +23% COG +6% CapEx +2% So if these figures (kinda/sorta) workout, then yes, SEA could show positive cash-flow. My concern would be: if the CapEx was where it should be, would SEA still remain cash-flow positive? Further, the underinvestment (if this is correct) would come back to haunt SEA at some point in the future. Thoughts? jog on duc [/QUOTE]

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