28-August-2020:  Half year results announcement   plus   Investor presentation - half year results   and   Appendix 4D

Costa (CGC) has had a pretty volatile year, at least their share price has.  But the market liked today's numbers, marking CGC up +11.82% today.  

Financial Headlines

• Revenue of $612.4m – growth of 6.8% on 1HCY19
• EBITDA – SL* - $93.7m compared to $82.4m 1HCY19. Improvement of +13.7%.
• NPAT –SL* - $45.8m increase of 12.0% on 1HCY19.
• Statutory NPAT of $43.4m.
• Net debt of $181.7m and leverage of 1.66x – ahead of plan.
• Dividend of 4.0 cents per share, fully franked (record date 17 September 2020, payment date 8 October 2020).

* Before SGARA, pre-IFRS16, material items & amortisation of acquired intangibles. Refer to the Appendix for further details on non-IFRS measures and details of material items & amortisation of acquired intangibles.

Quotes from Costa Group CEO, Harry Debney

“Our international segment performed strongly over the half, with significant improvement in EBITDASL, reflected in growth of 98% compared to the first half CY19. The major northern Morocco harvest cycle returned to normal timing and yield from all of our China farms was exceptional.”

“The continued impact of CY19 adverse weather and drought conditions affected our first half CY20 results for our Australian operations. However, these historical conditions should have no material impact in 2HCY20 or beyond and there is broad based forward momentum in demand and pricing over our Australian portfolio leading into the second half of CY20.”

“We have been impressed with the relative performance of our citrus orchards in terms of fruit size and yield, especially given the circumstances where industry harvest volumes have been impacted due to previous heat events. Also, strong export and domestic demand, together with improved pricing levels are expected to continue to season end”.

--- click on the links at the top for more, including - hopefully - whatever SL, SGARA and EBITDASL means ---