Timeline of Events:
19 August 2020:
a2 Milk Annual Report 30 June 2020
FY21 Outlook – the company anticipated strong revenue growth with an expected EBITA margin between 30% and 31%
28 September 2020: Updated FY21 Outlook
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Acknowledgement that the contraction in the daigou channel is beyond the Company’s previous expectations with ANZ revenue anticipated to be materially below plan for the first half of FY21.
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Outlook for FY21 revenue was $1.8b and $1.9b with an EBITDA margin for FY21 will be 31%
18 December 2020: Updated 1H21 & FY21 guidance
The company announced a downgrade to its revenue forecast and announces EBITDA margin for FY21 is now expected to be between 26% and 29%
25 February 2021: 1H21 Results and Interim Report
The company announced that it expected FY21 group revenue to be around $1.4b with group EBITDA margin of 24% to 26%.
10 May 2021:
Trading update and revised FY21 outlook
The company announced a significant downgrade to revenue for FY21: $1.2b - $1.25b; EBITDA margin expected to be between 11% and 12%.
Share Price Movement:
Share price of ATM in NZ$ as per NZX Price History
Announcement Date:
Closing Share Price $NZ
19 August 2020
28 September 2020
$16.65
18 December 2020
$11.00
25 February 2021
$9.34
10 May 2021
$6.62
$20.35