Ann: WOA agrees to acquire assets of Prolupin GmbH, page-33

Look how far away substantial revenue from Prolupin is after the acquisition




WOA previously guided $9-13k/t as potential sales price for Buntein (in the April "Letter from CEO" that caused the suspension lol)
They refer above to upper end of anticipated range and premium to pea and soy, so say $12k/t sale price

Prolupin revenue based on the chart
FY24 $1.2m
FY25 $6m
FY26 $18m (? - no date on the bars outside of the box so open to interpretation, as is the mention of fibre. I'll be generous and call it 1500tpa at $12k/t in FY26)
FY27 $24m

Margin unknown, but given current cash burn that kind of revenue won't provide a profit until end FY26 at best

At least the volumes above are somewhat realistic. A long way from the 10,000tpa and a $100m pa opportunity the April CEO letter alluded to. How long to ramp up to that? About 6 years based on that trajectory.

The positive is that they are now forecasting revenue from lupins within the next 9 months, and if FY24 & FY25 targets are met (or exceeded) then it will re-ignite WOA being a growth story. About time there was some under-promising and over-delivering.