Bega Cheese reported a strong increase in profitability in the first half of the fiscal year, citing the continued effective implementation of its brand-focused strategy plan and a rebound in the bulk foods segment.
According to the brand, revenue of $1.8 billion was up 3 per cent from the previous year, with the recovery of the bulk business a crucial driver.
The normalised 1H FY2025 EBITDA of $110.3 million increased by $33.8 million, or 44 per cent, year on year.
Normalised items in the current period include the October sale of the Leeton juice processing site, as well as the impairment of selective equipment related to the manufacturing footprint and portfolio simplification.
The Bulk segment’s statutory EBITDA was $24.4 million, up from a $5.6 million loss the previous year, as the misalignment between global dairy commodities and Australian farmgate milk reduced.
According to the brand, the sustained focus on cash optimisation and leveraging the advantages of innovation and cost-cutting measures is expected to offset inflationary impacts and boost profitability and leverage in FY2025.
