A2 Milk Company has a 13.5 per cent rise in its group revenue to $1.9 billion, up from $1.67 billion, for this financial year.
The company’s EBITDA grew 17.1 per cent to $274.3 million, year-on-year, with its net profit after tax seeing a 21.1 per cent increase to $202.9 million in the same period.
In China, the company’s revenue grew 18.9 per cent to $1.3 billion, with its EBITDA growing 14.6 per cent to $332.4 million.
The company reached a top-four brand position in China’s infant formula market.
Overall, the brand’s infant formula business grew 10 per cent, driven by its English label business, which was up 17 per cent.
A2 Milk Company’s Australia and New Zealand (ANZ) segment saw a slight decline of 0.4 per cent in its revenue to $316 million, with its EBITDA falling by 8.7 per cent to $57.5 million.
In the US, the company’s revenue grew by 22.5 per cent to $139.3 million, and its EBITDA saw losses, reduced to $9.3 million, down from $15.5 million in the previous financial year.
“I’m proud of what our team has achieved this year, reporting record sales of $1.9 billion and double-digit earnings growth in our 25th year since The A2 Milk Company was formed,” said CEO David Bortolussi.
“Our board was pleased to declare the company’s first-ever dividends this year with a 71 per cent payout ratio, marking a significant milestone for our shareholders.”
The company has acquired Yashili New Zealand’s fully integrated nutritional manufacturing facility located in Pokeno, New Zealand, with two existing China Label product registrations.
“The acquisition of the Pokeno manufacturing facility and related products represents a pivotal moment for The A2 Milk Company and the execution of our supply chain transformation strategy,” said Bortolussi.
“The transactions enable the company to build a better, higher growth, lower risk, end-to-end business and deliver substantial benefits to shareholders.”
Moving forward, the company expects to see single-digit revenue growth in the next financial year, and EBIDTA margin between 15 and 16 per cent, and a similar net profit after tax as this financial year.
