Business
Interim Results
Interim Results.
About this update from Applied Nutrition Plc
[{"type":"text","content":"\n\nFor release 7:00am Monday 7 April 2025\nApplied Nutrition plc\n(the \"Company\" or the \"Group\")\nInterim results for the six months ended 31 January 2025\nSTRONG FIRST HALF PERFORMANCE, CONTINUED MOMENTUM INTO H2 WITH RECORD MONTHLY REVENUE DELIVERED IN MARCH\n \nApplied Nutrition plc, a leading sports nutrition, health, and wellness brand, today announces its interim results for the half year ended 31 January 2025 (\"H1 FY25\").\nGroup financial highlights\n\n\n\n\n· \n\n\nH1 FY25 revenue of £47.6 million, comfortably ahead of guidance provided at the time of IPO of £46.0 million, providing a strong underpin for the full year guidance of £100 million \n\n\n\n\n· \n\n\nThe UK delivered exceptionally strong year-on-year growth of c.34% driven by further penetration of existing customers and winning new customers\n\n\n\n\n· \n\n\nEurope also saw exceptionally strong year-on-year growth of c.39%, driven by broader distribution with existing partners particularly in countries in Central and Eastern Europe such as Romania and Albania\n\n\n\n\n· \n\n\nInternational declined year-on-year, primarily due to the £5.5 million of orders brought forward by customers in the Middle East into H1 FY24, as outlined at the IPO. International excluding Middle East delivered strong growth in H1 FY25\n\n\n\n\n· \n\n\nAdjusting for the brought forward revenue in H1 FY24 and comparing on a normalised basis implies year-on-year revenue growth of c.19.0% for the Group\n\n\n\n\n· \n\n\nRobust gross margin of c.47% despite whey prices rising throughout the period, highlighting the benefit of the Group's diverse product range and low exposure to whey protein products\n\n\n\n\n· \n\n\nAdjusted EBITDA of £13.8m resulted in an adjusted EBITDA margin of c.29%, which was in line with market expectations. H1 FY24 EBITDA margin was higher than usual primarily as a result of the operational leverage caused by the brought forward orders\n\n\n\n\n· \n\n\nStrong free cash flow conversion (after tax) of 64.5% was ahead of market expectations, resulting in free cash flow generation of £8.9m and net cash at period end of £10.9 ...