Australian Oilseeds Announces Fiscal 2024 Financial Results
Australian Oilseeds Holdings (NASDAQ: COOT) reported its fiscal 2024 financial results, showing a 16.1% increase in sales revenue to A$33.7 million, driven by strong demand for cold-pressed canola oil. The company's gross margin improved by 40 basis points to 17.5%, while Adjusted EBITDA grew 15.6% to A$4.1 million.
However, the company recorded a net loss of A$21.3 million compared to prior year's net income of A$1.8 million, primarily due to A$23.2 million in recapitalization expenses. The company sources a significant portion of its Canola seed from regenerative farming practices, with contracted farmers reducing greenhouse gas emissions by minimum 50% from baseline.
Australian Oilseeds Holdings (NASDAQ: COOT) ha riportato i risultati finanziari per l'anno fiscale 2024, registrando un aumento del 16,1% nei ricavi delle vendite a 33,7 milioni di dollari australiani, sostenuto da una forte domanda di olio di canola spremuto a freddo. Il margine lordo dell'azienda è migliorato di 40 punti base, raggiungendo il 17,5%, mentre l'EBITDA rettificato è cresciuto del 15,6% a 4,1 milioni di dollari australiani.
Tuttavia, l'azienda ha registrato una perdita netta di 21,3 milioni di dollari australiani rispetto all'utile netto dell'anno precedente di 1,8 milioni di dollari australiani, principalmente a causa di 23,2 milioni di dollari australiani in spese di ricapitalizzazione. L'azienda ottiene una parte significativa dei suoi semi di canola da pratiche agricole rigenerative, con agricoltori contrattati che riducono le emissioni di gas serra di almeno il 50% rispetto al livello di base.
Australian Oilseeds Holdings (NASDAQ: COOT) informó sobre sus resultados financieros para el año fiscal 2024, mostrando un aumento del 16.1% en los ingresos por ventas a 33.7 millones de dólares australianos, impulsado por una fuerte demanda de aceite de canola prensado en frío. El margen bruto de la compañía mejoró en 40 puntos base, alcanzando el 17.5%, mientras que el EBITDA ajustado creció un 15.6% a 4.1 millones de dólares australianos.
Sin embargo, la compañía registró una pérdida neta de 21.3 millones de dólares australianos en comparación con los ingresos netos del año anterior de 1.8 millones de dólares australianos, principalmente debido a 23.2 millones de dólares australianos en gastos de recapitalización. La empresa obtiene una parte significativa de sus semillas de canola de prácticas agrícolas regenerativas, con agricultores contratados que reducen las emisiones de gases de efecto invernadero en al menos un 50% desde la línea base.
오스트레일리아 오일시드 홀딩스 (NASDAQ: COOT)는 2024 회계연도의 재무 결과를 보고하며, 매출이 16.1% 증가한 3,370만 호주 달러를 기록했다고 발표했습니다. 이는 압착 가는 기름에 대한 수요 증가에 힘입은 것입니다. 회사의 총 매출 이익률은 40bp 개선되어 17.5%를 기록하였으며, 조정된 EBITDA는 15.6% 증가하여 410만 호주 달러에 이르렀습니다.
하지만 회사는 이전 회계연도의 순이익 180만 호주 달러와 비교하여 순손실 2,130만 호주 달러를 기록했습니다. 이는 주로 2,320만 호주 달러의 재자본화 비용 때문입니다. 이 회사는 재생 농업 관행을 통해 상당량의 기름유 우유콩 씨앗을 공급받고 있으며, 계약 농부들은 기준선보다 최소 50%의 온실가스 배출량을 줄였습니다.
Australian Oilseeds Holdings (NASDAQ: COOT) a publié ses résultats financiers pour l'exercice 2024, affichant une augmentation de 16,1% du chiffre d'affaires à 33,7 millions de dollars australiens, soutenue par une forte demande pour l'huile de canola pressée à froid. La marge brute de l'entreprise s'est améliorée de 40 points de base pour atteindre 17,5%, tandis que l'EBITDA ajusté a progressé de 15,6% à 4,1 millions de dollars australiens.
Cependant, l'entreprise a enregistré une perte nette de 21,3 millions de dollars australiens par rapport à un bénéfice net de 1,8 million de dollars australiens l'année précédente, principalement en raison de 23,2 millions de dollars australiens de dépenses de recapitalisation. L'entreprise obtient une part significative de ses semences de canola grâce à des pratiques agricoles régénératrices, les agriculteurs sous contrat réduisant les émissions de gaz à effet de serre d'au moins 50% par rapport à la ligne de base.
Australian Oilseeds Holdings (NASDAQ: COOT) hat seine finanziellen Ergebnisse für das Geschäftsjahr 2024 veröffentlicht und einen Umsatzanstieg von 16,1% auf 33,7 Millionen Australische Dollar festgestellt, was auf die starke Nachfrage nach kaltgepresstem Rapsöl zurückzuführen ist. Die Bruttomarge des Unternehmens verbesserte sich um 40 Basispunkte auf 17,5%, während das bereinigte EBITDA um 15,6% auf 4,1 Millionen Australische Dollar wuchs.
Allerdings verzeichnete das Unternehmen einen Nettoverlust von 21,3 Millionen Australischen Dollar im Vergleich zum Nettogewinn des Vorjahres von 1,8 Millionen Australischen Dollar, primär aufgrund von 23,2 Millionen Australischen Dollar an Rekapitalisierungskosten. Das Unternehmen bezieht einen signifikanten Teil seiner Raps-Samen aus regenerativen Anbaumethoden, wobei die vertraglich gebundenen Landwirte die Treibhausgasemissionen um mindestens 50% im Vergleich zur Basislinie reduzieren.
- Revenue growth of 16.1% to A$33.7 million
- Gross margin improvement of 40 basis points to 17.5%
- Adjusted EBITDA increase of 15.6% to A$4.1 million
- Net loss of A$21.3 million compared to prior year's profit of A$1.8 million
- Significant recapitalization expense of A$23.2 million
Insights
COOTAMUNDRA, Australia, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Australian Oilseeds Holdings Limited, a Cayman Islands exempted company (the “Company”) (NASDAQ: COOT) today announced financial results for its fiscal year ended June 30, 2024.
Fiscal 2024 Financial Highlights Compared to Prior Year
- Sales revenue increased
16.1% to A$33.7 million due to strong demand for the Company’s cold-pressed canola oil. - Gross margin of
17.5% improved 40 basis points reflecting lower relative production costs partially offset by brand investments along with higher freight and storage. - Net loss of A
$21.3 million compared to net income of A$1.8 million , mostly due to A$23.2 million of recapitalization expense. - Adjusted EBITDA increased
15.6% to A$4.1 million .
“We are pleased to report strong fiscal 2024 results, reflecting steady progress with our key strategic initiatives,” said Gary Seaton, Chief Executive Officer. “Revenues increased by more than
About Australian Oilseeds Investments Pty Ltd. Australian Oilseeds Investments Pty Ltd. is an Australian proprietary company that, directly and indirectly through its subsidiaries, is focused on the manufacture and sale of sustainable oilseeds (e.g., seeds grown primarily for the production of edible oils) and is committed to working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. The Company engages in the business of processing, manufacture and sale of non-GMO oilseeds and organic and non-organic food-grade oils, for the rapidly growing oilseeds market, through sourcing materials from suppliers focused on reducing the use of chemicals in consumables in order to supply healthier food ingredients, vegetable oils, proteins and other products to customers globally. Over the past 20 years, the Company’s cold pressing oil plant has grown to become the largest in Australia, pressing strictly GMO-free conventional and organic oilseeds.
Non-GAAP Financial Measures: This press release makes reference to certain non-GAAP measures. These measures are not recognized or defined measures under IFRS Accounting Standards, do not have standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional financial information to complement those IFRS Accounting Standards measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. The non-GAAP financial measures, adjustments, and reasons for adjustments should be carefully evaluated as these measures have limitations as analytical tools and should not be used in substitution for an analysis of the Company’s results under IFRS Accounting Standards.
In addition to providing financial measurements based on IFRS, we provide an additional financial metric that is not prepared in accordance with IFRS, or non-IFRS financial measure. We use this non-IFRS financial measure, in addition to IFRS financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes, to measure executive compensation, and to evaluate our financial performance. This non-IFRS financial measure is Adjusted EBITDA, as discussed below.
We believe that this non-IFRS financial measure reflects our ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as it facilitates comparing financial results across accounting periods and to those of peer companies. We also believe that this non-IFRS financial measure enables investors to evaluate our operating results and future prospects in the same manner as we do. This non-IFRS financial measure may exclude expenses and gains that may be unusual in nature, infrequent, or not reflective of our ongoing operating results.
The non-IFRS financial measure does not replace the presentation of our IFRS financial measures and should only be used as a supplement to, not as a substitute for, our financial results presented in accordance with IFRS.
We consider Adjusted EBITDA to be an important indicator of the operational strength and performance of our business and a good measure of our historical operating trends. Adjusted EBITDA eliminates items that we do not consider to be part of our core operations. We define Adjusted EBITDA as IFRS net loss excluding the following items: interest income; income taxes; depreciation and amortization of tangible and intangible assets; unit and stock-based compensation; Business Combination transaction expenses; and other non-recurring items that may arise from time to time.
The non-IFRS adjustments, and our basis for excluding them from our non-IFRS financial measure, are outlined below:
| ● | Unit and Stock-based compensation – Although unit and stock-based compensation is an important aspect of the compensation paid to our employees, the grant date fair value varies based on the derived stock price at the time of grant, varying valuation methodologies, subjective assumptions, and the variety of award types. This makes the comparison of our current financial results to previous and future periods difficult to interpret; therefore, we believe it is useful to exclude unit and stock-based compensation from our non-IFRS financial measures to highlight the performance of our business and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies. | |
| ● | Business Combination transaction expenses – Business Combination transaction expenses represent the expenses incurred solely related to the Business Combination, which we completed on March 21, 2024. It primarily includes investment banker fees, legal fees, professional fees for accountants, transaction fees, advisory fees, due diligence costs, certain other professional fees, and other direct costs associated with strategic activities. These amounts are impacted by the timing of the Business Combination. We exclude Business Combination transaction expenses from our non-IFRS financial measures to provide a useful comparison of our operating results to prior periods and to our peer companies because such amounts vary significantly based on the magnitude of the Business Combination transaction and do not reflect our core operations. |
The following table reconciles IFRS net profit to Adjusted EBITDA during the periods presented (in thousands):
| Year Ended June 30, 2024 | Year Ended June 30, 2023 | |||||
| Net (Loss) Profit | $ | (21,230,681 | ) | $ | 1,844,970 | |
| Interest Expense | $ | 835,813 | $ | 612,735 | ||
| Depreciation and amortization | $ | 498,566 | $ | 571,899 | ||
| Recapitalization expense | $ | 23,210,293 | $ | - | ||
| Change in fair value of warrant liabilities | $ | (141,874 | ) | $ | - | |
| Income taxes | $ | 313,421 | $ | 109,878 | ||
| Business combination transaction expenses | $ | 611,109 | $ | 404,491 | ||
| Adjusted EBITDA | $ | 4,096,647 | $ | 3,543,973 | ||
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, global economic conditions could in the future reduce demand for our products; we could in the future experience cybersecurity incidents; we may be unable to manage or sustain the level of growth that our business has experienced in prior periods; our financial resources may not be sufficient to maintain or improve our competitive position; we may be unable to attract new customers, or retain or sell additional products to existing customers; we may experience challenges successfully expanding our marketing and sales capabilities, including further specializing our sales force; customer growth could decelerate in the future; we may not achieve expected synergies and efficiencies of operations from recent acquisitions or business combinations, and we may not be able to pay off our convertible notes when due. Further information on potential factors that could affect our financial results is included in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements.
SEC 10 K Filing link here:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1959994/000149315224048520/form10-k.htm
Contact
Australian Oilseeds Holdings Limited
126-142 Cowcumbla Street
Cootamundra New South Wales 2590
Attn: Bob Wu, CFO
Email: bob@energreennutrition.com.au
Investor Relations Contact
Reed Anderson
(646) 277-1260
reed.anderson@icrinc.com
FAQ
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