Brief: Comvita Sees Lower Revenue And Adjusted EBITDA For Fy24

Comvita

20/05/2024 24:10

May 20 (Reuters) - Comvita Ltd  CVT.NZ :
    * SEES LOWER REVENUE AND ADJUSTED EBITDA FOR FY24
    * EXPECTED FY24 ADJUSTED EBITDA NZ$23M - NZ$28M
    * SEES  FY24 REVENUE OF NZ$211M - NZ$218M
    * FY24 GROSS MARGIN IS EXPECTED TO BE C60%
    * NZ$50M EBITDA TARGET WITHIN FY25 STRATEGIC PLAN, IS NOW
CONSIDERED TO BE UNACHIEVABLE IN FY25
    * COST-OUT PROGRAMME FOR FY25 INITIATED, OVER-AND-ABOVE FY24
PROGRAMME, TARGETED TO DELIVER INCREMENTAL SAVINGS OF NZ$10M
(COGS AND OPEX)


Further company coverage:  CVT.NZ 

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