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

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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