2e:null 2f:["$","title",null,{"children":"NBN Business Case - Financials - update Sept 2020 | Richard Ferrers | Observable"}] 34:T7c1,viewof pic3 = { const pl = DOM.element('div'); var layout = { showlegend: true, title: "NBN Financials 2016-2024, update 2021-24 Corp Plan", barmode: 'stack', xaxis: { title: 'Year', dtick: 1 }, // x-axis yaxis: { range: [0, 10], title: '$B / M', dtick: 1 } // y-axis } var trace1 = { x: years, y: revenue, name: 'Revenue est. 18 $B', type: 'line' }; // variables with 19 suffix indicate update info from Strat Plan 2019-22 var trace19 = { x: years, y: revenue19, name: 'Revenue est. 19 $B', type: 'line' }; var trace199 = { x: years, y: revenue20, name: 'Revenue est. 20 $B', type: 'line' }; var trace1999 = { x: years, y: revenue21, name: 'Revenue est. 21 $B', type: 'line' }; var trace7 = { x: years, y: usersMeoy, name: 'Activated USERS est. 18 (M)', type: 'line', color: 'yellow' }; var trace79 = { x: years, y: usersMeoy19, name: 'Activated USERS est. 19 (M)', type: 'line', color: 'yellow' }; var trace799 = { x: years, y: usersMeoy20, name: 'Activated USERS est. 20 (M)', type: 'line', color: 'black' }; var trace7999 = { x: years, y: usersMeoy21, name: 'Activated USERS est. 21 (M)', type: 'line', color: 'black' }; var trace9 = { x: years, y: ebitda21, name: 'EBITDA post subs. est 21 ($B)', type: 'line', color: 'black' }; var trace99 = { x: years, y: ebitda20, name: 'EBITDA post subs. est 20 ($B)', type: 'line', color: 'black' }; var trace999 = { x: years, y: ebitda19, name: 'EBITDA post subs. est 19 ($B)', type: 'line', color: 'black' }; plotly.newPlot(pl, [ trace1, trace19, trace199, trace1999, trace7, trace79, trace799, trace7999], layout) return pl }35:T860,viewof pic5 = { const pl = DOM.element('div'); var layout = { showlegend: true, title: "NBN Revenue vs EBITDA 2016-2024, update 2021-24 Corp Plan", barmode: 'stack', xaxis: { title: 'Year', dtick: 1 }, // x-axis yaxis: { range: [-4, 8], title: '$B / M', dtick: 1 } // y-axis } var trace1 = { x: years, y: revenue, name: 'Revenue est. 18 $B', type: 'line' }; // variables with 19 suffix indicate update info from Strat Plan 2019-22 var trace19 = { x: years, y: revenue19, name: 'Revenue est. 19 $B', type: 'line' }; var trace199 = { x: years, y: revenue20, name: 'Revenue est. 20 $B', type: 'line' }; var trace1999 = { x: years, y: revenue21, name: 'Revenue est. 21 $B', type: 'line' }; var trace7 = { x: years, y: usersMeoy, name: 'Activated USERS est. 18 (M)', type: 'line', color: 'yellow' }; var trace79 = { x: years, y: usersMeoy19, name: 'Activated USERS est. 19 (M)', type: 'line', color: 'yellow' }; var trace799 = { x: years, y: usersMeoy20, name: 'Activated USERS est. 20 (M)', type: 'line', color: 'black' }; var trace7999 = { x: years, y: usersMeoy21, name: 'Activated USERS est. 21 (M)', type: 'line', color: 'black' }; var trace9 = { x: years, y: ebitda21, name: 'EBITDA post subs. est 21 ($B)', type: 'line', color: 'black' }; var trace99 = { x: years, y: ebitda20, name: 'EBITDA post subs. est 20 ($B)', type: 'line', color: 'light green' }; var trace999 = { x: years, y: ebitda19, name: 'EBITDA post subs. est 19 ($B)', type: 'line', color: 'black' }; var trace9999 = { x: years, y: ebitda18, name: 'EBITDA post subs. est 18 ($B)', type: 'line', color: 'black' }; plotly.newPlot(pl, [ trace1, trace19, trace199, trace1999, trace9, trace99, trace999, trace9999], layout) return pl }36:T91c,viewof pic1 = { const pl = DOM.element('div'); var layout = { showlegend: true, title: "NBN Financials 2016-2021, update 2020", barmode: 'stack', xaxis: { title: 'Year', dtick: 1 }, // x-axis yaxis: { range: [0, 28 ], title: '$B / M', dtick: 4 } // y-axis } var trace2 = { x: years, y: subPays, name: 'Subscriber Payments', type: 'bar' }; var trace29 = { x: years, y: subPays19, name: 'Subscriber Payments 19', type: 'line' }; var trace3 = { x: years, y: opexVar, name: 'Variable - OPEX', type: 'bar' }; var trace4 = { x: years, y: opexFix, name: 'Fixed - OPEX', type: 'bar' }; var trace5 = { x: years, y: capex, name: 'CAPEX est.18', type: 'line', color: 'green' }; var trace59 = { x: years, y: capex19, name: 'CAPEX est. 19', type: 'line', color: 'green' }; var trace599 = { x: years, y: capex20, name: 'CAPEX est. 20', type: 'line', color: 'black' }; var trace5999 = { x: years, y: capex21, name: 'CAPEX est. 21', type: 'line', color: 'black' }; var trace6 = { x: years, y: cashOUT, name: 'Cash OUTFLOWS est. 18', type: 'line', color: 'green' }; var trace69 = { x: years, y: cashOUT19, name: 'Cash OUTFLOWS est. 19', type: 'line', color: 'green' }; var trace699 = { x: years, y: cashOUT20, name: 'Cash OUTFLOWS est. 20', type: 'line', color: 'black' }; var trace98 = { x: years, y: debt18, name: 'Debt est. 18', type: 'line', color: 'green' }; var trace99 = { x: years, y: debt19, name: 'Debt est. 19', type: 'line', color: 'green' }; var trace999 = { x: years, y: debt20, name: 'Debt est. 20', type: 'line', color: 'black' }; var trace9999 = { x: years, y: debt21, name: 'Debt est. 21', type: 'line', color: 'black' }; plotly.newPlot(pl, [ trace98, trace99, trace999, trace9999, trace6, trace69, trace699, trace5, trace59, trace599, trace5999], layout) return pl }37:T7d9,viewof pic2 = { const pl = DOM.element('div'); var layout = { showlegend: true, title: "NBN Financials - Costs - 2016-2022, update 2020", barmode: 'stack', xaxis: { title: 'Year', dtick: 1 }, // x-axis yaxis: { range: [0, 12], title: '$B / M', dtick: 1 } // y-axis } var trace2 = { x: years, y: subPays, name: 'Subscriber Payments est. 18', type: 'line' }; var trace29 = { x: years, y: subPays19, name: 'Subscriber Payments est. 19', type: 'line' }; var trace299 = { x: years, y: subPays20, name: 'Subscriber Payments est. 20', type: 'line' }; var trace2999 = { x: years, y: subPays21, name: 'Subscriber Payments est. 21', type: 'line' }; var trace2a = { x: years, y: accSubPays18, name: 'Acc Subscriber Payments est. 18', type: 'line' }; var trace29a = { x: years, y: accSubPays19, name: 'Acc Subscriber Payments est. 19', type: 'line' }; var trace29b = { x: years, y: accSubPays20, name: 'Acc Subscriber Payments est. 20', type: 'line' }; var trace29c = { x: years, y: accSubPays21, name: 'Acc Subscriber Payments est. 21', type: 'line' }; var trace3 = { x: years, y: opexVar, name: 'Variable - OPEX est. 18', type: 'bar' }; var trace4 = { x: years, y: opexFix, name: 'Fixed - OPEX est. 18', type: 'bar' }; var trace49 = { x: years, y: totExp19, name: 'Tot Exp est. 19 excl Subs', type: 'line' }; var trace499 = { x: years, y: totExp20, name: 'Tot Exp est. 20 excl Subs', type: 'line' }; plotly.newPlot(pl, [ trace49, trace499, trace2, trace29, trace299, trace2999, trace2a, trace29a, trace29b, trace29c, trace3, trace4 ], layout) return pl }38:[] 32:{"id":"c85f3aafc3f43abb","slug":"nbn-business-case-financials-update-sept-2020","title":"NBN Business Case - Financials - update Sept 2020","thumbnail":"c663887efa88d593adf9545f14726db427c25070684e63a3bb144cce8f8a0ba8","access_level":"public","create_time":"$D2020-09-24T08:36:51.893Z","update_time":"$D2021-07-27T04:29:25.242Z","view_time":null,"first_public_time":"$D2020-09-25T08:57:37.723Z","has_unpublished_edits":null,"fork":{"id":"f3dc9e1357930b41","slug":"nbn-business-case-financials-update-2020","title":"NBN Business Case - Financials - update 2020","owner":{"id":"0018576fb2fd42a8","login":"areff2000","name":"Richard Ferrers"}},"stars":0,"starred":false,"owner":{"type":"team","id":"0018576fb2fd42a8","login":"areff2000","name":"Richard Ferrers","avatar_url":"https://avatars-next.observableusercontent.com/bd016a1821a066a393fccf09562a2562008bedb29f8c0cd19a3b83fa5bf1a3dc","tier":"starter_2024","bio":"My Goals: 1.To bring my deep understanding of innovation, technology and industry transitions to improve local innovation practices and drive consumer value. "},"version":914,"publish_version":914,"role":null,"authored":false,"authors":[{"type":"individual","id":"aeee6da9848a4b1c","login":"areff2000","name":"Richard Ferrers","avatar_url":"https://avatars-next.observableusercontent.com/bd016a1821a066a393fccf09562a2562008bedb29f8c0cd19a3b83fa5bf1a3dc","tier":null,"bio":"My Goals: 1.To bring my deep understanding of innovation, technology and industry transitions to improve local innovation practices and drive consumer value. "}],"members":[{"type":"individual","id":"aeee6da9848a4b1c","login":"areff2000","name":"Richard Ferrers","avatar_url":"https://avatars-next.observableusercontent.com/bd016a1821a066a393fccf09562a2562008bedb29f8c0cd19a3b83fa5bf1a3dc","tier":null,"role":"editor"}],"comments":[],"custom_thumbnail":false,"trashed":false,"lapsed":null,"subscribed":null,"forks":0,"collection":null,"type":"notebook","body":{"titling":"auto","title":"NBN Business Case - Financials - update Sept 2020","cells":[{"id":0,"value":"md`# NBN Business Case - Financials - update Sept 2020`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":8,"value":"md`Prev (2019) in response to an Enquiry by Joint Standing Committee on the NBN for 2019 Submission update.\nSee [Enquiry Home.](https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/National_Broadband_Network)
\nThis update using new data from NBN Corporate Plan (2020-23).
\nThis analysis is licensed: [CC-BY](https://en.wikipedia.org/wiki/Creative_Commons_license).`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":502,"value":"md`See link to parallel [NBN Asset/ Earnings Overview - 2014-2021](https://beta.observablehq.com/@areff2000/nbn-business-case-assets-earnings-overview-2014-2021) | [Update 2019](https://observablehq.com/@areff2000/nbn-business-case-financials-update-2019) | [Assets 2019](https://beta.observablehq.com/@areff2000/nbn-business-case-assets-earnings-overview-2014-2021-reass) | PICKUP - update Asset overview for 2019.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":433,"value":"md`## Analysis - 2021 estimates tracking 6mths behind 2020 Corp Plan`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":565,"value":"md`[Link to NBN - Post 2021 Analysis](https://beta.observablehq.com/@areff2000/nbn-financials-from-2021-to-infinity-and-beyond)`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":673,"value":"$34","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":892,"value":"$35","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":34,"value":"$36","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":665,"value":"$37","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":739,"value":"md`Why is there a $2B less cash in 2021 in 2019 (vs 2018) figures?
Revenue same (in total by 2021). Subs same. Expenses the same. CAPEX? Difference is more CAPEX ($3.4B), but $2B less accumulated revenue. `","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":545,"value":"md`NB: EARNINGS (before DEPN, INT, TAX) is the gap between the REVENUE line and the EXPENSES bar (excluding DEPN, INT, TAX). A small EBITDA in 2020 and firstly cashflow positive in 2021. AFTER 2021 (ceteris paribus; all things staying the same) there is $2B Annual positive cashflow for TAX, INT repayment, further CAPEX eg upgrade of FTTN. On $25+11B CAPEX, about a 5.5% annual return.
\nTOTAL CASH OUTFLOWS 2016-21: $36B
\nTOTAL CAPEX 2016-21: $25B (pre2016 NBN CAPEX est. on Bal Sheet $11B)
\nTOTAL EBITDA 2016-21: $9B LOSS [(link)](https://beta.observablehq.com/@areff2000/nbn-business-case-assets-earnings-overview-2014-2021)
\nTOTAL CUST PAYS 2016-21; $11B - but there may be an argument to capitalise and match to revenue from these Customers?`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":39,"value":"md`SOURCE data: Updating for [NBN Strategic Plan 2021-24](https://www.nbnco.com.au/content/dam/nbnco2/2020/documents/media-centre/corporate-plan-2021/nbnco-corporate-plan-2021.pdf) ^5. Updated for [NBN Strategic Plan 2020-23](https://www.nbnco.com.au/content/dam/nbnco2/2019/documents/media-centre/corporate-plan-report-2020-2023.pdf) ^4; [NBN Strategic Plan 2019-22](https://www.nbnco.com.au/corporate-information/about-nbn-co/corporate-plan/corporate-plan.html) ^3.
\nPreviously NBN [Strategic Plan 2018-21](https://www.nbnco.com.au/corporate-information/about-nbn-co/corporate-plan/corporate-plan.html) ^1; NBN Annual Report 2016-17 ^2; of revenue, opex, ebitda, capex:\nNB: 2017 CAPEX not all cash: intangibles (finance lease) $1.5B`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":36,"value":"md`Pickup; next to do: Fix colours....`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":517,"value":"md`DEFINITIONS:
\nCAPEX: Capital Expenditure - ie cost to build NBN, includes leases of pits
\nEBITDA: EARNINGS before Interest, Tax, Depreciation, Amortisation
\nOPEX: Operating Expenditure
\n=variable; varies in proportion to revenue
\n=fixed; remains flat, regardless of revenue
\nSubscriber Payments: payments to Telstra / Optus for transferring customers to NBN.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":419,"value":"md`## Data 2016 - 2021, with update 2019`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":31,"value":"years = { return [2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":217,"value":"md`Years:`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":61,"value":"arpuAvg = { return [30, 35, 36.0, 42.0, 50.0, 52]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":608,"value":"arpuAvg19 = { return [30, 35, 42, 39.0, 43.0, 51.6]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":493,"value":"arpuEOY = { return [43, 43, , , , ,52 ]}","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":219,"value":"md`ARPU - average through year vs closing users = REV:
\nARPU: monthly average revenue per user`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":77,"value":"usersMeoy= { return [1.1, 2.4, 4.4, 6.9, 8.1, 8.6]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":602,"value":"usersMeoy19= { return [1.1, 2.4, 4.0, 5.5, 7.5, 8.4]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":758,"value":"usersMeoy20= { return [1.1, 2.4, 4.0, 5.5, 7.0, 8.1, 8.4, 8.6]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":824,"value":"usersMeoy21= { return [1.1, 2.4, 4.0, 5.5, 7.3, 8.2, 8.6, 8.8, 9.0]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":221,"value":"md`Users (M) end of yr: ^1 p.39; ^2 p.7; ^3 p.38; ^4 p.49. Where var name indicates first year of Corp Plan. ie Var21 = 2021 Corporate Plan, publsihed Sept 2020.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":126,"value":"opexVar = { return [0.4, 0.5, 0.4, 0.5, 0.8, 0.9]; } \n","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":223,"value":"md`OPEX variable ($B): ^1 p.54; ^2 p.36.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":146,"value":"opexFix = { return [1.0, 1.3, 2.0, 2.0, 1.9, 2.0]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":225,"value":"md`OPEX Fixed ($B): ^1 p.54; ^2 p.36.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":706,"value":"accExp18 = { return [1.4, 3.2, 5.6, 8.1, 10.8, 13.6];\n // excluding Subs\n // annual - 1.4, 1.8, 2.4, 2.5, 2.7, 2.9\n }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":151,"value":"subPays = { return [0.6, 1.6, 2.9, 3.4, 1.5, 0.3]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":699,"value":"accSubPays18 = { return [0.6, 2.2, 5.1, 8.5, 10.0, 10.3]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":639,"value":"subPays19 = { return [0.6, 1.6, 2.7, 1.7, 2.7, 1.1]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":796,"value":"subPays20 = { return [0.6, 1.6, 2.7, 1.9, 2.3, 1.3, 0.4]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":845,"value":"subPays21 = { return [0.6, 1.6, 2.7, 1.9, 2.4, 1.1, 0.3, 0.1]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":697,"value":"accSubPays19 = { return [0.6, 2.2, 4.9, 6.6, 9.3, 10.4]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":799,"value":"accSubPays20 = { return [0.6, 2.2, 4.9, 6.8, 9.1, 10.4, 10.8]; 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}\n","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":879,"value":"ebitda20 = { return [,-2.7,-2.3,-1.7, -1.4, 0.8, 2.4, 3.2]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":888,"value":"ebitda19 = { return [,-2.7,-2.3,-1.7, -1.4, 1.3, 2.5]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":902,"value":"ebitda18 = { return [,-2.7,-3.4,-2.4, 0.7, 2.2]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":160,"value":"cashOUT = { return [6.8, 6.9, 11, 7.9, 2.4, -0.1]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":722,"value":"debt18 = { return [0, 0, 9.0, 16.9, 19.3, 19.2]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":868,"value":"md`Cashflows Out ($B): ^1 p.34; ^2 p.101; ^4 p.48.`","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":658,"value":"cashOUT19 = { return [6.8, 6.9, 7.6, 7.9, 5.8, 2.2]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":780,"value":"cashOUT20 = { return [6.8, 6.9, 7.6, 7.5, 6.1, 2.1, 0.2]; 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}","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":723,"value":"md`Debt funding ($B): ^1 p.34; ^3 p.56; ^4 p.48.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":681,"value":"totExp19 = { return [1.4, 1.8, 2.4, 2.6, 2.8, 2.7];\n // fixed + var \n }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":788,"value":"totExp20 = { return [1.4, 1.8, 2.4, 2.6, 2.9, 2.9];\n // fixed + var \n }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":703,"value":"accExp19 = { return [1.4, 3.2, 5.6, 8.2, 10.8, 13.6];\n // excluding Subs\n // annual - 1.4, 1.8, 2.4, 2.6, 2.6, 2.8\n }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":790,"value":"accExp20 = { return [1.4, 3.2, 5.6, 8.2, 11.1, 14.0];\n // excluding Subs\n // annual - 1.4, 1.8, 2.4, 2.6, 2.6, 2.8\n }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":688,"value":"md`Opex ($B): ^3 p.56; 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Includes Operating Expenses plus Subscriber Payments.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":229,"value":"md`Cashflows Out ($B): ^1 p.34; ^2 p.101; ^4 p.48.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":155,"value":"capex = { return [4.7, 5.8, 7.0, 4.2, 1.6, 0.6]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":631,"value":"capex19 = { return [4.7, 5.8, 5.7, 6.0, 3.6, 1.5]; }","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":774,"value":"capex20 = { return [4.7, 5.8, 5.7, 5.9, 4.3, 1.7, 1.4, 1.4]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":854,"value":"capex21 = { return [4.7, 5.8, 5.7, 5.9, 5.0, 3.4, 3.8, 2.4, 2.2]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":89,"value":"md`CAPEX ($B): ^1 p.32; ^2 p.41; ^3 p.38; ^4 p.48.
\nCAPEX IS Capital Expenditure, later depreciated over assets useful life.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":66,"value":"revenue = {\nvar values = [];\n for (let i = 0; i <= arpuAvg.length-1; ++i) \n { values.push(myRound(arpuAvg[i] * 12 * usersMeoy[i] /1000));\n }\n \n return (values); \n// pickup add other additions.\n}","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":606,"value":"revenue19 = {\nvar values19 = [];\n for (let i = 0; i <= arpuAvg.length-1; ++i) \n { values19.push(myRound(arpuAvg19[i] * 12 * usersMeoy19[i] /1000));\n }\n \n return (values19); \n// pickup add other additions.\n}","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":762,"value":"revenue20 = { return [0.4, 1.01, 2.02, 2.8, 3.7, 4.9, 5.6, 5.9]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":832,"value":"revenue21 = { return [0.4, 1.01, 2.02, 2.8, 3.8, 4.5, 5.4, 5.8, 6.2]; }","pinned":true,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":233,"value":"md`Revenue ($B): ^1 p.34; ^2 p.7; ^3 p.38; ^4 p.50; ^6 p.54.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":164,"value":" yr = myInt(sliderValue / 20 + 0.5 ) - 1\n// EBITDA \n// return (revenue[yr] - opexVar[yr] - opexFix[yr] - subPays[yr])","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":197,"value":"html`In YR ${yr} (${yr+2016}) the EBITDA IS $B ${parseFloat(ebitda).toFixed(2)}`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":171,"value":"ebitda = parseFloat(revenue[yr] - opexVar[yr] - opexFix[yr] - subPays[yr]).toFixed(2)\n// ebitda","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":272,"value":"html`In YR ${yr} (${yr+2016})
(REV: ${myRound(revenue[yr])})
(OpexVar: ${myRound(opexVar[yr])})
(OpexFix: ${myRound(opexFix[yr])})
(SUBS: ${myRound(subPays[yr])}) :
( => EBITDA: (${(ebitda)})REV - OPEX - SUBS
\nEBITDA is EARNINGS BEFORE INTEREST, TAX, DEPECIATION AND AMORTISATION.`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":184,"value":"slider = html``","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":300,"value":"html`Select Year (2016 - 2020)`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":192,"value":"sliderValue = Generators.input(slider)","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":470,"value":"2 / 36\n\n","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":12,"value":"md`**Reference**: [Code](https://beta.observablehq.com/@mbostock/introduction-to-code) | [Html](https://beta.observablehq.com/@mbostock/introduction-to-html) | [5 min intro](https://beta.observablehq.com/@mbostock/five-minute-introduction) | [@Maegul](https://beta.observablehq.com/@maegul) | [Javascript Cheatsheet](https://www.codementor.io/johnnyb/javascript-cheatsheet-fb54lz08k) | [Obs Inputs](https://beta.observablehq.com/@jashkenas/inputs)|[Named Colours](https://beta.observablehq.com/@jashkenas/all-the-named-colors) (in Markdown)`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":431,"value":"md`### Nuts and Bolts - under the hood`","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":132,"value":"function myRound(name) {\n return parseFloat(name).toFixed(2);\n}","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":263,"value":"function myInt(name) {\n return parseFloat(name).toFixed(0);\n}","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":312,"value":"plotly = require('https://cdn.plot.ly/plotly-latest.min.js')","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"},{"id":314,"value":"d3 = require(\"https://d3js.org/d3.v5.min.js\")","pinned":false,"hidden":false,"mode":"ojs","author":"$undefined","summary":"$undefined","tool":"$undefined","providerMetadata":"$undefined","attachments":"$undefined","output":"$undefined","database":"$undefined"}],"files":"$W38","stdlib":"1"}} 33:"$32:body"