Bubs Australia Ltd. · ASX:BUB
Bubs Australia — FY2025 Earnings Presentation
23 slides from Bubs Australia's earnings presentation, Aug 29, 2025
Slide 1: Bubs Australia Limited FY25 Results Presentation
Bubs Australia Limited FY25 Results Presentation 29 August 2025
Slide 2: Disclaimer
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, assumpti
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 and present. Image: Bunurong Marine National Park of Victoria 3
Slide 4: Joe Coote, Chief Executive Officer
Joe Coote Chief Executive Officer Over 30 years in FMCG, dairy and retail sectors. Most recently CEO of Darigold, the fourth-largest dairy cooperative in the USA, overseeing over $US2B in global sales. 12 years at Fonterra leading commercial operations across USA, Asia, and ANZ culminating in Presid
Slide 5: Naomi Verloop, Chief Financial Officer
Naomi Verloop Chief Financial Officer Experienced CFO and company director. Previously CFO for Barenbrug Australia, wholly owned subsidiary of the Royal Barenbrug Group 6 years at Nufarm Australia leading Finance and Supply Chain for their wholly owned subsidiary Nuseed Listed and non-listed experie
Slide 6: Contents
Contents FY25 Financial Results Update by Market Strategy Update
Slide 7: Bubs delivered on its FY25 commitments
In a challenging operating environment, Bubs delivered on its FY25 commitments Positive Target Revenue > Gross profit %> Underlying Positive operating $100M than 40% EBITDA1 cash flow $102.5M 48% $0.6M $6.1M Forward • Assessing business performance and dynamic global environment • focus • El
Slide 8: Revenue growth of 29% to $102.5M
Strong demand in key markets delivering revenue growth of 29% to $102.5M Income statement $’M FY25 FY24 Revenue up 29%, with USA being the biggest revenue driver (up 52%) Revenue 102.5 79.7 Gross Profit up 27% reflecting Bubs focus on volume, mix and margin in Gross Profit 49.1 38.7 our core marke
Slide 9: Delivered $42.5M Net Assets due to strong operating result and tight working capital management
Delivered $42.5M Net Assets due to strong operating result and tight working capital management Balance Sheet $’M Jun-25 Jun-24 Cash and cash equivalents of $17.4M at Jun-25 reflecting continued focus on cash generation for the Group Cash and cash equivalents 17.4 17.5 Trade and other receivables
Slide 10: Delivered $6.1M in positive operating cash flow
Delivered $6.1M in positive operating cash flow Cash Flow $’M FY25 FY24 Net cash from operating activities increased to $6.1M, a significant improvement of $32.4M over prior year Cash flows from operating activities Receipts from customers 103.7 77.7 Receipts from customers increased $26.0M from p
Slide 11: Delivered growth across all key markets, with USA the highlight
Delivered growth across all key markets, with USA the highlight with strong volume and value growth across online and retail outlets Group Revenue • 81% of sales driven by overseas markets, Australia now represents 19% CAGR $102.5M • USA fastest growing market at 52% of total at $53.1M 30.6% • 3-y
Slide 12: Improved underlying Gross Profit Margin to 48%
Improved underlying Gross Profit Margin to 48% Underlying Gross Profit1 48% 41%2 • Strong management of margin, mix and market; $49 USA performance a key driver of the uplift to 48% 30%3 • Prior year comparatives have been normalized for $33 inventory provisions and loss-making bulk product and in
Slide 13: Delivered positive cash flow over 3 consecutive quarters
Delivered positive cash flow over 3 consecutive quarters • Positive operating cash flow (OCF) for last three quarters of FY25 • Disciplined approach to working capital to ensure sufficient increasing to $6.1M by end Q4 FY25 funds available to meet short term business obligations • OCF impacted in
Slide 14: Update by Market
eget Bh A NE See ete tet et as a Update by Market
Slide 15: USA has grown to become our leading market in volume and value
USA has grown to become our leading market in volume and value with sales of $53.1M 5,725 stores across USA • 5,725 stores and No.1 position for Amazon Goat IMF • Total IMF powder market $8B, growing at 5% YoY o Premium Natural IMF market size is $770M, growing 47% YoY; Bubs grew $23M (43%) to 9% sh
Slide 16: Submitted New Infant Formula Submission with USA FDA for permanent market access
Submitted New Infant Formula Submission with USA FDA for permanent market access FDA Transition Guidance & Regulatory Pathway Growth Study Satisfaction Survey May FDA exercised Enforcement • Ongoing engagement with FDA 2022 Discretion for all 6 Bubs Formulas since May 2022. July FDA announces Bubs c
Slide 17: China growth has focused on Goat IMF within O2O and CBEC
China growth has focused on Goat IMF within O2O and CBEC with strong growth in CBEC of 15% against category decline of 22% • A diversified brand portfolio - Goat, Supreme and CapriLac • Bubs Goat IMF CBEC category share increased from 14% to 20% Ecommerce General Trade on major Ecommerce retailers1
Slide 18: We have maintained our leadership position in Australian goat IMF
We have maintained our leadership position in Australian goat IMF with 53.5% share • Australia’s No.1 Goat IMF with 53.5%2 of sub-category • Competitive home market where we offer a balanced IMF product portfolio of Goat, Organic and Essential • Launch of Bubs Essentials marks strategic expansion in
Slide 19: Japan and Vietnam are our leading growth markets within Rest of World
Japan and Vietnam are our leading growth markets within our Rest of World segment • Bubs Supreme, Goat & Organic SKUs key growth drivers • Japan - Contributes $4.3M equal to 50% • Vietnam – Contributes $2.4M equal 28%. Total Milk Formula market is $1.7B1 and grew 5.6% YoY, highlighting significant o
Slide 20: Strategy Update
Strategy Strategy update Update
Slide 21: We are tracking well against our 5-point strategy
We are tracking well against our 5-point strategy USA Growth China Reset Portfolio Sweat the Working Engine Optimisation Assets Capital 52% YoY Revenue 22% YoY revenue Focused Portfolio – Deloraine facility well FY25 positive growth growth Infant (Goat & Bovine) positioned to support operating cash
Slide 22: Our strategy update will focus on elevating our ambition and aligning execution
Our strategy update will focus on elevating our ambition and aligning execution to deliver our full potential Purpose, Vision, Values Customer trust Go to market Supply chain Stakeholders Market mapping, Digital activation, Service, Quality, High performing teams, Brand marketing, Targeted geographi
Slide 23: Q&A
Q&A investors@bubsaustralia.com