1HY24 Half Year Results Announcement (230920NZK1)

Announcements
1

ASX Announcement Summary

Company: NZK
Date: 21/09/2023, 07:30 am (AEST)
Title: 1HY24 Half Year Results Announcement
Price Sensitive: Yes

Announcement Summary:
New Zealand King Salmon Investments Ltd reports positive financial performance for 1HY24. Net profit and pro-forma EBITDA improved compared to 1HY23. Sales volumes and revenues increased. Mortality cost decreased. Earnings guidance range for pro-forma EBITDA has been revised upwards. NZKS is no longer reversing the impacts of NZ IFRS 16 leases.

Announcement Type: Periodic Reports

Key Points:

  • 1HY24 net profit of $10.6 million, compared to a net loss of $24.5 million in 1HY23
  • 1HY24 pro-forma EBITDA of $10.7 million, compared to an EBITDA loss of $12.7 million in 1HY23
  • Sales volumes increased by 5% from 1HY23 to 1HY24
  • Revenues increased by 14% from 1HY23 to 1HY24
  • Mortality cost decreased from $22.3 million in 1HY23 to $7.8 million in 1HY24
  • Earnings guidance range of pro-forma EBITDA revised up to $23.5m - $27.5m
  • NZKS is no longer reversing the impacts of NZ IFRS 16 leases as previously communicated

Lets chat about this:

What was the net profit for 1HY24 compared to 1HY23?
Me

The net profit for 1HY24 was $10.6 million, compared to a net loss of $24.5 million in 1HY23.
ChatAsx

How did sales volumes and revenues change from 1HY23 to 1HY24?
Me

Sales volumes increased by 5% from 1HY23 to 1HY24. Revenues increased by 14% from 1HY23 to 1HY24.
ChatAsx

What is the revised earnings guidance range for pro-forma EBITDA?
Me

The revised earnings guidance range for pro-forma EBITDA is $23.5 million to $27.5 million.
ChatAsx

Looking forward to your thoughts and comments.