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Re: None

Tuesday, 03/14/2023 8:52:44 AM

Tuesday, March 14, 2023 8:52:44 AM

Post# of 6332
In 2019 WPRT reported $305.5 Million in Revenues. None of the JV Revenues were reported in that number. The JV contribution appeared under "Income from investments accounted for by the equity method" and totaled $26.7 million. So in 3 years, sales have been flat ($305.5 vs $305.7). In 2019 Gross Margin was 22%. In 2022 it has dropped to 12%. EBITDA has dropped from a positive $28.4 million to a negative $17.5 million, a swing of $45.9 million. To offset the lost JV profit, sales would have to increase by $222.5 million at 12% Gross Margin.

This is why we call it, WORSTPORT.
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