News: BGA Bega Cheese Sees Normalised EBITDA In Range Of A$123 Mln To A$130 Mln For FY2019

Dec 19 (Reuters) - Bega Cheese Ltd (BGA) :

• UPDATES ON OVERALL BUSINESS PERFORMANCE AND ACQUISITION OF KOROIT
• SEES OVERALL MILK INTAKE IN FY2019 WILL BE BETWEEN 1.0-1.1 BILLION LITRES OF MILK COMPARED TO A TOTAL INTAKE OF 750 MILLION LITRES IN FY2018.
• OUTLOOK FOR BEGA CHEESE'S FINANCIAL PERFORMANCE IN FY2019 IS EXPECTED TO BE IMPACTED BY COMPETITIVE PRESSURE
• SEES NORMALISED EBITDA IN RANGE OF $123 TO $130 MILLION FOR FY2019
• INCREASED DEPRECIATION CHARGES ON KOROIT INFRASTRUCTURE HAVE BEEN REFLECTED IN FORECAST NORMALISED PROFIT AFTER TAX
• CURRENT FORECASTS INDICATE A NORMALISED PROFIT AFTER TAX RANGE OF $44 AND $48 MILLION.
• OVERALL REDUCTION IN AUSTRALIAN MILK SUPPLY POOL HAS CREATED SIGNIFICANT COMPETITIVE FARM GATE MILK PRICING PRESSURE