Brief: Australian Vintage Says FY23 Results To Be Broadly In Line With Market Expectations

Australian Vintage

15/06/2023 02:16

June 15 (Reuters) - Australian Vintage Ltd  AVG.AX :
    * FY23 RESULTS TO BE BROADLY IN LINE WITH MARKET
EXPECTATIONS
    * MARKET ENVIRONMENT IS EXPECTED TO REMAIN CHALLENGING INTO
FY24
    * FOR FY23, PILLAR BRAND REVENUE CONTRIBUTION IS EXPECTED TO
BE
IN-LINE WITH 78% CONTRIBUTION ACHIEVED IN FY22
    * SEES  FY23 GROUP REVENUES OF A$255 MILLION - A$260 MILLION
    * EXPECTS FY23 UNDERLYING EBITDAS OF A$26 MILLION - A$28
MILLION
    * SEES  FY23 UNDERLYING EBITS OF A$18 MILLION - A$20MLN
    * AVERAGE EXPECTS UNDERLYING EBITDAS AND NPATS TO IMPROVE
INTO
FY24 FROM EXPECTED FY23 PERFORMANCE
    * AVERAGE ALSO EXPECTS NET DEBT TO REDUCE FROM CURRENT
LEVELS TO
THOSE PRIOR TO CAPITAL RETURN IN 2021
    * IMPLEMENTING TO SUSPEND ANY POTENTIAL FINAL DIVIDEND FOR
FY23
UNTIL NET DEBT/ EBITDAS, ON A PRE AASB BASIS, IS BELOW 2 TIMES

Source text for Eikon:  ID:nASX2DCBNt 
Further company coverage:  AVG.AX 

 ((Reuters.Briefs@thomsonreuters.com;))