The A2 Milk Company: FY22 Result — Baby Steps
The a2 Milk Company (ATM) reported a solid FY22 result, modestly ahead of our and consensus expectations, highlighting ongoing solid execution...
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The A2 Milk Company (ATM): FY22 Result – Initial Impressions
The a2 Milk Company (ATM) reported a solid FY22 result with EBITDA of NZ$196.2m and NPAT of NZ$122.6m and the result was slightly ahead of our and...
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Pullback Continues; Japan & India Remain Attractive
Stick with Japan & India. $ACWI bounce at $86 would be ideal for the bullish case (i.e., establishing a higher low), but we could easily see a test...
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The A2 Milk Company: FY22 Preview — All Eyes on FY23
After a solid 1H22 result, we forecast a 2H22 sequential EBITDA decline (to NZ$87.3m from NZ$97.6m in 1H22) given lower margins as marketing and...
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The A2 Milk Company: A New Normal; Down to UNDERPERFORM
The a2 Milk CompanyA New Normal; Down to UNDERPERFORM UNDERPERFORM The China Infant Formula (IF) market has changed. Over recent years it has...
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