Bellamy's Australia Limited Reports Group Earnings Results for the Fiscal Year 2018; Provides Earnings Guidance for Fiscal 2019
Given the timing uncertainty for SAMR determination, the company is providing an outlook for revenue growth for its Australian label business only; expecting more moderate sales growth for Australian label business in fiscal 2019 due to a: recent slow-down in Chinese cross-border market growth for infant formula; change in the availability and ecommerce pricing of Australian and New Zealand competitors. On this basis and subject to market conditions, the company gives the following fiscal 2019 outlook: up to 10% revenue growth for fiscal 2019 Australian-label business with growth expected to be predominantly achieved in second half 2019 upon the launch of key revenue initiatives; additional revenue opportunity for Chinese-label business when SAMR registration is achieved; Group EBITDA margin expected to continue at second half 2018 normalised levels of 22%-25%.