The A2 Milk Company Limited (ACOPY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us today for the A2 Milk Company's interim results presentation, the first half of FY25. My name is David Bortolussi. I'm the Managing Director and CEO, and today I'm joined on the call by our CFO, Dave Musket, and leaders from our regions, Li Zhao, Johan Sinaratnan, and Eleanor Corr. The team and I will present the results and outlook, and as always, there will be time at the end for questions. Starting on slide four, I'm very pleased to share the results of our team's execution of our growth strategy, which has delivered another period of strong operational and financial performance. We experienced significant supply constraints during the period, which we've overcome, and continue to focus on driving growth in China and other markets within and outside of the infant category. Our ongoing focus on brand investment, product innovation and supply chain transformation have enabled us to continue to grow in challenging market conditions. Our solid first half results and positive momentum going into the second half have resulted in us upgrading our FY25 full year guidance, which I'll cover in more detail later. In our infant milk formula business, which I'll refer to as IMF, we delivered double-digit revenue growth in English Label and achieved record market share in China Label. We launched new products targeting all life stages from infants to seniors, and today we are pleased to declare our first-ever dividend following the announcement of our dividend policy at our annual meeting last year. Moving to slide five, which summarises our financial results, We delivered 10% revenue growth, which was at the top end of our guidance range. EBITDA was up a lesser 5% due to significant air freight costs incurred to mitigate sup...