- Mad Paws (ASX:MPA) acheives its first month of positive group operating EBITDA for September 2023
- The company recorded a positive Group EBITDA of $0.1 million after all corporate costs in September 2023
- It represents an increase of $1.2 million over the pcp
- Mad Paws is Australia’s leading online pet ecosystem, that connects pet owners with high-quality services and products
- MPA shares are up 7.23 per cent, trading at 8.9 cents at 1:59 pm AEDT
Mad Paws (ASX:MPA) has achieved its first month of positive group operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) for September 2023.
Mad Paws is Australia’s leading online pet ecosystem, that connects pet owners with high-quality services and products.
The company recorded a positive Group EBITDA of $0.1 million after all corporate costs in September 2023.
This was an increase of $1.2 million over the prior corresponding period.
The positive outcome can be attributed to the increased demand for Mad Paw services and a series of operational measures put in place during the previous fiscal year.
“We are extremely happy with the Mad Paws September result, as for the first time we have been able to achieve positive Group Operating EBITDA which includes all our operations and corporate costs.” Mad Paws Holdings Co-Founder & CEO Justus Hammer said.
“This represents another key milestone in the Mad Paws journey to cash flow break-even, first outlined 12 months ago, and validates our decisions to pursue sustainable growth strategies.”
Mad Paws’ strong start to FY24 is expected to continue, building on momentum visible in its last quarterly report, and heading into Q2, the busiest time of year for the company.
“To achieve this result in the current economic climate is a testament to the Mad Paws platform and its increasingly prominent position in the Australian pet market,” Mr Hammer said.
The company is confident that this milestone will establish the group further as it plans to expand its presence in the Australian pet market.
MPA shares were up 7.23 per cent, trading at 8.9 cents at 1:59 pm AEDT.