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:
Looking forward to your thoughts and comments.