You can work the numbers out for yourselves :
THIRD DOWNGRADE
Outlook FY21
Globally there continues to be unprecedented levels of uncertainty and volatility due to COVID-19.
The Company remains confident in the underlying fundamentals of the business and will continue to invest behind the brand and in its capability to drive long term growth.
However, the pace of recovery in the daigou/reseller channel and in the CBEC channel has been slower than previously anticipated and the Company now expects revenue to be at the lower end of the previous guidance range.
A lower EBITDA margin range is now expected due to lower revenue, higher brand investment, longer daigou/reseller support, movements in foreign currency and adverse channel mix relative to what was anticipated in December.
Accordingly, the Company’s FY21 outlook is now as follows:
• Group revenue for FY21 in the order of $1.4 billion
• Group EBITDA margin for FY21 of 24% to 26% (excluding MVM acquisition costs)
The outlook for FY21 assumes the actions being taken to re-activate the daigou/reseller channel deliver a significant improvement in quarter-on-quarter growth from 3Q21 to 4Q21.
Second Downgrade : 18 Dec 2020
Our FY21 guidance as follows:
• Group revenue for FY21 of $1.40 billion to $1.55 billion
• Group EBITDA margin for FY21 of between 26 per cent and 29 per cent.
First Downgrade : 28 Sept 2020
an update to our outlook to include our view of Group revenue as follows:
- Group revenue for 1H21 of $725 million to $775 million
- Group revenue for FY21 of $1.80 billion to $1.90 billion
- Group EBITDA margin for FY21 in the order of 31%.
27 August 2020 : Massive Sale of Shares By Directors & Management
https://www.nzx.com/announcements/358806
Results for F20 : 19 August 2020
Total revenue of $1.73 billion, an increase of 32.8%
• EBITDA4 of $549.7 million, an increase of 32.9%
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