Bubs Australia Ltd. · ASX:BUB
Bubs Australia — FY2026 Earnings Presentation
21 slides from Bubs Australia's earnings presentation, Aug 27, 2026
Slide 1: FY26 Results Presentation
FY26 Results Presentation BUBS AUSTRALIA LIMITED 27 August 2026
Slide 2: Disclaimer
This presentation is in summary form and is not necessarily complete. It should be read together with the Company’s other announcements lodged with the Australian Securities Exchange. This presentation contains information that is based on projected and/or estimated expectations, assumptions or ou
Slide 3: Acknowledgement of Country
Acknowledgement of Country Bubs acknowledges the Traditional Custodians of the Lands on which we operate. We pay our respects to Elders past, present and emerging. 3
Slide 4: Agenda
Agenda 01 FY26 Results Summary 02 Financial Overview 03 Regional Performance 04 Strategy 05 Outlook Joe Coote, CEO Chris Rowe, CFO 06 Q&A 4
Slide 5: Our Purpose
Our Purpose To provide clean nutrition products that offer peace of mind for parents and lifelong wellbeing for their bubs 5
Slide 6: Revenue momentum sustained through macro headwinds, with inventory built to support future growth
Revenue momentum sustained through macro headwinds, with inventory built to support future growth Grew revenue – Group +9%; USA +24% $111.9M 39.8% Navigated disruption – Managed USA tariffs (total H1 $0.3m vs H2 $2.3m) and regulatory reset (H1 nil vs H2 REVENUE GROSS PROFIT MARGIN $3.9m) while ratio
Slide 7: Financial Overview
Financial Overview
Slide 8: Group revenue growth driven by USA, with earnings impacted by H2 cost
Group revenue growth driven by USA, with earnings impacted by H2 cost Income Statement $AUDm FY26 FY25 Revenue 111.9 102.5 Revenue Gross profit 44.5 49.1 • Up 9.2% to $111.9m, driven by 24% increase in USA Gross profit (%) 39.8% 47.8% revenue on FY25, offset by weaker performance in Operating expens
Slide 9: Invested in restocking inventory to normalise levels
Invested in restocking inventory to normalise levels Balance Sheet $AUDm Jun-26 Jun-25 Inventory Current assets excl. inventories 24.2 30.8 • Increased to $36.3m (+$16.2m), driven by a Current inventories 36.3 20.1 targeted inventory restocking program to ensure Non-current assets 11.8 6.3 continuit
Slide 10: Net working capital reflects normalised inventory levels for a global IMF supply chain
Net working capital reflects normalised inventory levels for a global IMF supply chain • Net working capital increased by $12.3m to $35.5m, reflecting investment in inventory to ensure supply continuity and growth • Inventory restock is now complete Net Working Capital Bridge Net Working Capital / S
Slide 11: Regional Performance
Regional Performance
Slide 12: USA – sales growth driven by expanding national accessibility of Bubs products
USA – sales growth driven by expanding national accessibility of Bubs products to meet growing demand for premium IMF Market conditions Walmart Target • Premiumisation and differentiated formulations continue to drive consumer demand1 Sales revenue Giant Eagle Sprouts • Held total IMF market share a
Slide 13: China – Healthy customer demand with inventory levels normalised
China – Healthy customer demand with inventory levels normalised Market conditions • China IMF market remains stable in value, with premiumisation offsetting volume Sales revenue declines3 $21.4m • Marriages up 11% (CY25) while birth rates down 17% (CY25)4 • Regulatory reset concluding, product flow
Slide 14: Australia – consumer spending pressures, temporary supply constraints, refocused marketing
Australia – consumer spending pressures, temporary supply constraints, with refocused marketing driving renewed momentum Sales revenue $18.3m Market conditions • Modest category value growth (3.5%) driven by premiumisation, while retail sales down 7% vs pcp volumes face structural pressure from shri
Slide 15: ROW – regulatory changes and inventory availability impacted financial performance
ROW – regulatory changes and inventory availability impacted financial performance Market conditions Sales revenue • Attractive long-term demographics and premium formula opportunities remain $6.4m • Regulatory reset impacted product availability down 25% vs pcp Build a winning portfolio • Product a
Slide 16: Strategy
Strategy
Slide 17: Growth strategy coming to life
Growth strategy coming to life, translating our purpose and strategic pillars into actions and outcomes Strategic pillars Activate Brand and Build a Winning Portfolio Connect Farm to Consumer Formula Our Purpose Enablers To provide clean nutrition Business transformation | Innovation | Strategic Par
Slide 18: Increasing transformation momentum with disciplined investment and focus
Increasing transformation momentum with disciplined investment and focus Activate Build a Connect Enablers Brand & Consumer Winning Portfolio Farm to Formula Reweighted digital Expanded market presence via Streamlined and optimised Strengthened operating marketing to increase brand new and broader r
Slide 19: H127 Outlook
H127 Outlook • Improved momentum expected through H1 as the business adapts to the new regulatory and tariff environment • Positive revenue growth outlook, with regional performance to remain mixed - USA – continued strong growth momentum - China – growth supported by expanded distribution and marke
Slide 20: Appendix
Slide 21: Appendix: Group definitions and non-IFRS measures
Appendix Group definitions and non-IFRS measures Earnings Before Interest and Tax (EBIT), Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), Underlying EBITDA and Underlying gross profit are non-IFRS measures, not been subject to audit or review. Underlying EBITDA: excludes one-o