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The a2 Milk Company Limited: 3Q20 Revenue Above Expectations and Update on FY20 Outlook

  • April 22, 2020 12:32 PM AEST
  • Team Kalkine

The a2 Milk Company Limited (ASX:A2M) notified the market about its FY 2020 outlook update and trading performance. Key highlights are as follows

Gold MTF non-AMP

  • For 3Q FY 2020 ending 31 March 2020, A2M’s revenue was above expectations driven by the increase in pantry stocking of its products during COVID-19.
  • Also, A2M’s China segment revenue and earnings were positively impacted by USD:NZD exchange rate movement.
  • For FY 2020, A2M expects its revenue to lie in between $1700 million to $1750 million.
  • EBITDA margin for FY 2020 is likely to be in the range of 31 percent to 32 percent, which is higher than February estimates.

 


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