ERG incurred an overall operating loss totalling $124.9 million for the half-year to 31 December 2002, compared to $199.4 million in the previous corresponding period.ERG recorded an EBITDA loss of $19.6 million (compared to a loss of $17.0 million in the previous year), before one-off write-downs and significant items -- Anonymous

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Subject: ERG incurred an overall operating loss totalling $124.9 million for the half-year to 31 December 2002, compared to $199.4 million in the previous corresponding period.ERG recorded an EBITDA loss of $19.6 million (compared to a loss of $17.0 million in the previous year), before one-off write-downs and significant items

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representing the initial benefits of the aggressive cost-cutting program initiated last year.
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Date Posted: Thursday, March 06, 01:50:13am
In reply to: 6/3/2003 's message, "2003 Half Year Review" on Thursday, March 06, 01:17:03am

Half-Year Results
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ERG incurred an overall operating loss totalling $124.9 million for the half-year to 31 December 2002, compared to $199.4 million in the previous corresponding period. ERG recorded an EBITDA loss of $19.6 million (compared to a loss of $17.0 million in the previous year), before one-off write-downs and significant items, representing the initial benefits of the aggressive cost-cutting program initiated last year.

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The half-year result includes a provision of $52.4 million taken in contemplation of the PW sale, as compared to its book value at 31 December 2002.An amount of e22.5 million (A$40.9 million), representing payments due to ERG on a milestone earn-out basis under the proposed PW salehas not been accounted for in determining the provision and will be brought to account as it is earned.As part of the proposed sale , ERG will retain access to the Proton technology by taking a 20 year global licence of the Proton technology. Thursday, March 06, 01:57:51am

Subject	Author	Date
The half-year result includes a provision of $52.4 million taken in contemplation of the PW sale, as compared to its book value at 31 December 2002.An amount of e22.5 million (A$40.9 million), representing payments due to ERG on a milestone earn-out basis under the proposed PW salehas not been accounted for in determining the provision and will be brought to account as it is earned.As part of the proposed sale	, ERG will retain access to the Proton technology by taking a 20 year global licence of the Proton technology.	Thursday, March 06, 01:57:51am