• Group revenue grew 13.5% to $1,902.0 million
• EBITDA increased 17.1% to $274.3 million, with EBITDA % margin at 14.4%
• China & Other Asia segment revenue grew 13.9% and achieved record China IMF market share

The a2 Milk Company ('the Company', 'a2MC') announced its financial results for the 12 months ended 30 June 2025. Group revenue grew 13.5% to $1,902.0 million, driven by continued growth in the China & Other Asia segment (up 13.9%), the USA segment (up 22.5%), and Mataura Valley Milk (up 42.7%), with the ANZ segment remaining flat. Total IMF sales grew 9.9%, led by English label which was up 17.2% driven by performance within the CBEC and O2O channels. China label sales were 3.3% higher, with the Company achieving record China label market share in FY25, despite ongoing market decline and supply constraints. Liquid milk sales grew 14.4%, with ANZ up 9.9% and USA up 22.1%. Other Nutritional sales continued to grow, up 23.1%, supported by new kids and seniors fortified milk powder products. EBITDA increased 17.1% to $274.3 million, with EBITDA % margin slightly higher at 14.4%. NPAT was $202.9 million, an increase of 21.1%. The balance sheet further strengthened during the year with closing net cash of $1,061.2 million.