Media Updates, page-15167

Excerpt from NZ Herald

A2 Milk has upped its first half net profit by 7.6% to $91.7 million, beating market expectations.

The company, which listed on the NZX in 2004, announced its first ever dividend, 8.5 cents a share.

Market expectations were for a net profit of about $83m.

A2 Milk’s revenue grew by 10.1% to $893.8 million compared to a market consensus of $870m.

Earnings before interest, tax, depreciation and amortisation (Ebitda) were up 5.0% to $118.9 million with an Ebitda margin of 13.3%.

A2 Milk ended the first half with a net cash position of $1.01 billion.

The company’s full year 2025 revenue forecast increased from mid to high single-digit, to low to mid double-digit percent on the prior year.

Ebitda margin, as a percentage of revenue, was expected to be slightly up on 2024.

Chief executive and managing director David Bortolussi said it had been a strong operational and financial performance.

“Our strong first half results and momentum going into the second half have resulted in an upgrade to our FY25 revenue and earnings guidance,” he said.

“In our infant milk formula business in China, we are a top-five player and one of the best performing brands, growing sales by 7% in a market that declined 6%,” he said.