Overview
- The company forecasts a first-half EBITDA loss of NZ$28 million to NZ$33 million, compared with EBITDA of NZ$63.1 million a year earlier.
- Most production problems at the Dunsandel plant have been resolved, yet the operational fallout continues to weigh on performance.
- Rebuilding low inventories led to additional sales of low-margin raw milk, pressuring margins and lifting operating costs.
- Shares fell more than 18% in New Zealand and over 13% in Australia after the profit warning.
- Synlait plans to complete the sale of its North Island assets on 1 April to reduce debt and concentrate operations in Canterbury.