Why are labour costs so high/increasing?

Never been a fan but harder to be negative when the price has fallen as far as it has.

Looking at the medium term targets (have assumed they get there by FY28) - I cant see how they can get to 13-18% EBITDA margins unless the cost base stays static from here onwards?

Revs $1.25bn

Gross margins 40%

marketing costs - 16% of sales in line with current levels

EBITDA $130m / 10% margins at best

OR....

Revs $1.25bn, GM 37%, marketing costs increase to 20% of sales to stay relevant... EBITDA $65m / 5% margins