Order Confirmed
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Pacific/Auckland
Click HERE to see our FY24 Half Year INVESTOR PRESENTATION
Click HERE to see our FY23 ANNUAL REPORT
“I am absolutely delighted with the progress we are making in so many areas. In particular, to deliver record revenue of $234M, double digit growth in all market segments and an operating profit growth of 18.7%, despite material impacts outside our direct control, gives me real confidence in our future prospects.
We remain on track to deliver our 2025 plan of c$50M EBITDA (20%).”
Resilient in the face of a tough year
Many of the goals we set for ourselves back in 2020 are ticked off – in particular, the crucial middle stage of our transformation programme.
This year, revenue growth was strong and earnings were in line with our guidance and our plan. Net debt reduced in our second half, and we delivered positive operating cashflow for the year. In fact, our second half cashflow was $29M. We are excited to be undertaking clinical trials on Mānuka honey for gut health and see this as an important stage for the company.
To read more, click HERE (see page 10.)
Geographic top-line summary
Strong business performance in our key growth market of China was matched by the continuing rise of our ecommerce channel. It’s been exciting to watch our customers embrace Comvita as a premium natural health and wellness brand, enabling us to carefully target range expansion and product premiumisation and grow market share as a result.
To read more, click HERE (see page 32.)
Sustainability, ESG, TFCD
Comvita is driven by a profound purpose: working in harmony with bees and nature in Aotearoa New Zealand to heal and protect the world. Our Harmony Plan is both a roadmap and a commitment to perpetuate positive impact for people, bees and planet. For us, it captures our determination to leave the world in a better place. We were delighted to receive B Corp certification this year, confirming Comvita as a purpose-driven organisation committed to the highest standards of transparency and accountability for social and environmental impact. At the same time, we have continued to invest in our forest strategy and to push towards our goal of being carbon neutral by 2025 and net positive by 2030.
To read more, click HERE (see page 52.)
Comvita (NZX:CVT) was founded in 1974, with a purpose to heal and protect the world through the natural power of the hive. With a team of 600+ people globally, united with more than 1.6 billion bees, we are the global market leader in Mānuka honey and bee consumer goods. Seeking to understand, but never to alter, we test and verify all our bee-product ingredients are of the highest quality in our own government-recognised and accredited laboratory. We are growing industry scientific knowledge on bee welfare, Mānuka trees and the many benefits of Mānuka honey and propolis. We have pledged to be carbon neutral by 2025 and carbon positive by 2030, and we are planting 1-2million native trees every year. Comvita has operations in Australia, China, North America, South East Asia, and Europe – and of course, Aotearoa New Zealand, where our bees are thriving.
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For further information visit NZX.COM
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