Key points
- Launch of Oli6® in Vietnam contributed $1.1m in sales YTD
- Group revenue up 215% to $5.6m in Q3 FY25, with bWellness delivering majority of increase
- Oli6® Nutritional sales up 94% to $3.5m in Q3 FY25
Full summary
Nuchev Limited reported a strong quarter, with the launch of Oli6® in the Vietnamese market in March delivering incremental sales of $0.6m in the quarter, adding to the $0.5m in the previous quarter. This new market has contributed sales of $1.1m YTD. Group revenue in Q3 FY25 was $5.6m, up $3.8m or 215% compared to the previous corresponding period, with the majority of this increase coming from the bWellness business, which contributed sales of $2.1m in the quarter. YTD Group revenue was $16.9m, up $8.4m or 99% compared to the previous corresponding period, with bWellness contributing $7.2m YTD and the Oli6 business delivering $1.2m or 14% year-over-year growth. Oli6® Nutritional sales in ANZ, China CBEC and Vietnam in Q3 FY25 were $3.5m, up $1.7m or 94% compared to the previous corresponding period. New product development also contributed, with Oli6® Grow launched in October to align with Double 11 in China delivering additional $0.3m sales in Q3 FY25 and YTD sales of $0.6m. The company remains focused on driving the business to achieve breakeven, with the expansion into Vietnam being another step forward in achieving this objective.
Guidance
The company did not provide any high-importance, price-sensitive forward-looking financial metrics.
Outlook
The company remains focused on driving the business to achieve breakeven, with the expansion into Vietnam being another step forward in achieving this objective. The company sees the Vietnamese market offering significant growth opportunities due to the Vietnamese consumers' demand for premium quality nutritional products and a strong preference for trusted international brands.