Half Year 2024 Noumi Ltd Earnings Call Transcript
Key Points
- EBITDA increased by 35.2% to $23.1 million, indicating strong financial performance.
- Plant-based milks segment achieved record EBITDA of $23.1 million, showcasing robust growth.
- Milklab brand revenue grew by 6.8%, reflecting successful brand expansion.
- Dairy and nutritionals segment turned around with a positive EBITDA of $2.2 million, compared to a loss in the previous period.
- Net revenue increased by $16.9 million to $296.7 million, demonstrating overall business growth.
- Net loss after tax was $27.7 million, including a $32.3 million adjustment for convertible notes.
- Global dairy market conditions negatively impacted bulk cream prices, reducing EBITDA by $4 million.
- Lactoferrin production disruptions led to a 37% decrease in sales, affecting profitability.
- Export revenues declined by 3%, highlighting challenges in international markets.
- Higher inventories at the end of December due to supply chain disruptions, indicating inefficiencies.
I'd like to welcome you to the presentation for the first-half results for FY24 for Noumi Limited. And it's a pleasure to be here with you today, and thank you for joining. The results will be presented today by myself and Pete Myers, the Group CFO, who will go through the financial results of the company. We've already uploaded the presentation, and you can navigate to the slide as you choose, or you can follow on the screen. We'll talk to each of the slides and refer to the page numbers as we progress.
Slide 3 is the agenda for today's call. We'll focus on the call-outs from the results and discuss the key elements of the company's evolution. Pete will present the financial performance for the period. I will then talk to the strategy of the company followed by closing remarks.
The key messages for today's call. We are proud of the progress that we are making as we execute our plans. The results for the first half of FY24 represent another period of solid progress against our plan to reset, transform, and grow the company with all key
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