• Record revenue, with new customers significantly increasing order numbers
• Existing infant formula customers expanded into adult, senior, and children's nutrition segments
• Appointment of distributors across North America, Asia and Europe improving access to markets

Clover Corporation Ltd held its FY25 Annual General Meeting, where the Chair and Managing Director provided an overview of the company's performance and strategic initiatives. FY25 delivered strong revenue growth of 38%, underpinned by expansion in Europe and Asia across the nutraceutical, food and beverage, and infant formula sectors. NPAT increased significantly, driven by new customer acquisitions and higher order volumes from existing clients. Margin improvements were supported by product innovation, cost efficiencies, and sourcing benefits from the Ecuador facility and Melody Dairies. The balance sheet was strengthened, with net assets up year-on-year, supported by increases in working capital and reduced borrowings. The company highlighted key operational achievements, including the application for a global patent for its CholineXcel technology, commencement of crude oil production, and the facility now supplying around 30% of Clover's tuna oil requirements. Looking ahead, the company sees continued momentum and growth with core human nutrition customers, is seeking regulatory approvals for its Premneo product, and expects 1H FY26 revenue to be in the range of $40-43 million, with the full year expected to outperform FY25.

Based on current sales and forecasted demand, the Board now expects 1H FY26 revenue to be in a range of $40m - $43m. Assuming demand momentum continues and supply chain remains stable, we expect that the full year revenue should outperform FY25.

Clover sees continued momentum and growth with core human nutrition customers, is seeking regulatory approvals for its Premneo product, and expects 1H FY26 revenue to be in the range of $40-43 million, with the full year expected to outperform FY25.