ATM - A2 Milk Corporation Limited

[Ggcc]

Coronavirus or not this looks promising

• 
  Given the essential nature of our products for many Chinese families, demand is strong, particularly through online and reseller channels, with revenue for the first two months of 2H20 above expectations.

[NZSilver]

Generating plenty of cash and growing strongly off a large base. On a PE of 32. Corona might knock them around in the next 12 months. Long-term very positive. Good US traction too

[dr_]

Well Aussies know Bull very well....on HC

"Kiwi down rampers out in force over here;c'mon you aussies,lets get the SP heading in the right direction today...up,up and away...
I think 'Bull' is their Leon !!"
https://www.sharetrader.co.nz/showth...mited/page1060"

[couta1]

A very good and pleasing result, just a shame about the Trolls.

[Oberon]

looks like they going to be spending some serious money soon on manufacturing. looks like revenue is a miss but ebitda for half good but the downgrade for the second half is a worry . would mean revenue could be lighter as well esp if virus disruption gets worse

Investor's update -- late 2019: "'For 1H20, we anticipate revenue in the range of $780 million to $800 million with growth demonstrating strong performance against strategy. EBITDA margin % in 1H20 is expected to be in the range of 31-32%.'"

Today's Interim report: "Revenue -- $806.7 million."

So, just to clarify - not a miss. Unless exceeding expectations qualifies as a miss.

[Balance]

A very good and pleasing result, just a shame about the Trolls.

Treat as an opportunity to buy more cheap stocks then, couta1.

Just as the shorters provided a lot of cheap stock in the last 6 months.

[bull....]

Investor's update -- late 2019: "'For 1H20, we anticipate revenue in the range of $780 million to $800 million with growth demonstrating strong performance against strategy. EBITDA margin % in 1H20 is expected to be in the range of 31-32%.'"

Today's Interim report: "Revenue -- $806.7 million."

So, just to clarify - not a miss. Unless exceeding expectations qualifies as a miss.

see the trolls are out in force led by there leader couta .

i didnt say they missed ist half ebitda read it properly they downgraded second half ebitda

[see weed]

It all sounds pretty good to me. As for the Corona virus, that is across the board for a lot of companies. Looking forward to meeting "bull" at the next sharetrader or shareholder meeting.

[Leftfield]

What does this mean -
Due to the increasing scale of our infant nutrition business, the Board considers it is now appropriate to assess participation in manufacturing capacity and capability to complement our existing supply chain relationships. Accordingly, we are presently evaluating opportunities to address this issue.

Great result.....I'm a happy long term holder. USA going great!!

Suspect that with SML and some USA/Aust/NZ producers available at discounted/distressed prices this is a good exercise.

A2 might stick to strategic stakes rather than full acquisitions. However I much prefer their capital light strategy.

[Gerald]

Thoughts on the results from a serious investor with a $1000 holding in a2:

Revenue looks solid. Profit is abit concerning (can anyone tell me why A2 tends to grow revenue in more in h1 and profit more in h2)?

Assuming professional service fees are consulting (20m)? Marketing expenses seem high compared to the same period for 2019, however still lower then H2 2019. Possible GB clamped down on both these?

Balance sheet looks as juicy as ever. Imo wasn't expecting any announcement on the 600m in the piggy bank, doubt we will hear anything untill we get a new CEO.

USA - Growth is good but would be good to see a reduction in the losses.

Won't be buying anymore at the present unless we get a nice big dip, but PE of around 30 isn't excessive at all. Can't see the SP going crazy anytime soon though.