My first impression from the call was that all analysts were...

My first impression from the call was that all analysts were caught with their pants down. (I think citi wasn't even on the call unless I missed it somehow). My understanding from what DB was saying Shanghai lockdown actually was rather positive for the company in contrary to what analysts were predicted predicting but he did not go in much details.
Some info already was shared on forum but anyway... In short,
seems like some further capital allocation toward share holders is possible but priority is still growth.
China birth rate is problem but not as scary as headlines painting it. In China premium and ultra premium market is growing 9% and this is where a2 is playing.
Current focus in China to expand into BCD cities where birth rates are higher
a2 segment grew more than 100% and company is still a leader in this segment.
There is nothing concrete but looks like some m&a are on the cards in NZ or/and China, this is where capital might be useful.
US is expecting decent improvement next year.
Current products refreshment is just small incremental upgrade, new different products will be introduced in the next 12-18 months.
In general everything going to the plan and good vibe feeling