Key points
- Restructured balance sheet, reduced debt, and introduced new working capital
- Reorganized EAT team, NEOLAST now running at capacity, deepened customer relationships
- Continued to lower operating costs, decision to sell Genetics business
Full summary
Ecofibre Limited reported its 1H25 results, highlighting meaningful progress toward delivering its Cash Positive Plan. The company restructured its balance sheet, reducing debt, extending debt terms, and introducing new working capital. It also reorganized the Ecofibre Advanced Technologies (EAT) team, with the NEOLAST line now running at capacity, and deepened relationships with all customers while building a pipeline of opportunities. Ecofibre continued to lower operating costs, with a 10% reduction in operating expenses. The company also made the decision to sell its Genetics business. Financially, revenue was up 3% to $12.4 million, while EBITDA improved 23% to -$3.9 million. The headline net loss after tax improved from -$45.7 million to -$18.0 million, with one-off items totaling -$11.6 million. Cash at the end of the period was $3.9 million, including $0.8 million for the separately funded EOF Bio business. Normalised EBITDA showed improvements across most business units, with Ananda Health and EAT moving closer to profitability, though the overall result was still negative.
Guidance
The company did not provide any high-importance, price-sensitive forward-looking financial metrics in the announcement.
Outlook
Ecofibre outlined key milestones for its 2H25 Cash Positive Plan, including a focus on core businesses, further debt reduction, realizing value in EOF Bio, delivering revenue growth in EAT, and completing the strategic review of the Genetics business. The company also plans to reduce corporate costs, optimize its Turf business, and commence clinical trials.