The A2 Milk Company Limited (ACOPY) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.824 -- 00:00:03.147 Good morning everyone and thank you for joining us today. 00:00:03.147 -- 00:00:07.333 My name is David Bortoglisi. I'm the Managing Director and CEO of the Atu Milk Company. 00:00:07.333 -- 00:00:11.999 Today I'm joined on a call by our CFO, Dave Muscat, and our business unit leaders, Lu 00:00:11.999 -- 00:00:17.066 Xiao, Yohan Sanaratna and Eleanor Kaur. The team and I will present the results from 00:00:17.066 -- 00:00:20.471 Outlook and as always there will be time at the end for questions. 00:00:20.471 -- 00:00:24.396 During the presentation we'll focus on continuing operations which excludes MBM that 00:00:24.396 -- 00:00:28.722 we divested during the half and occasionally refer to underlying results which excludes 00:00:28.722 -- 00:00:33.772 Atu Pocono. We've excluded A2 Pocono from underlying earnings, given that the 00:00:33.772 -- 00:00:37.636 site is currently underutilised and incurring manufacturing losses and transformation 00:00:37.636 -- 00:00:40.518 costs which are short-term in nature. 00:00:40.518 -- 00:00:45.003 Starting on slide four, we've had a very positive first half of the year, reporting significant 00:00:45.003 -- 00:00:49.147 revenue in EBITDA growth and underlying EBITDA margin improvement. 00:00:49.147 -- 00:00:53.290 In our IMF business, we achieved revenue growth of 13.6%, 00:00:53.290 -- 00:00:58.418 which was well ahead of category growth. We grew English label IMF by 21%, 00:00:58.418 -- 00:01:02.806 with strong performance in the CVEC and O2O channels, supported by growth in our new 00:01:02.806 -- 00:01:06.012 A2 Genesis products and from Vietnam. 00:01:06.012 -- 00:01:11.041 In China Label we delivered 6.5% revenue growth and achieved record market share in both 00:01:11.041 -- 00:01:14.183 t...