Key points
- Operating cashflows for the quarter were positive $0.2m
- Group revenue of $11.3m in H1 FY25, up 65% pcp
- Oli6® Nutritionals sales up 45% QoQ and 19% pcp
Full summary
Nuchev Limited delivered a strong Q2 FY25 performance, reporting positive operating cashflows of $0.2m, a first for the Group. This reflects building sales momentum, the benefits of the bWellness acquisition, higher customer receipts, inventory and cost control, and seasonality. Group revenue in H1 FY25 was $11.3m, up 65% pcp, driven by strong growth in ANZ Retail and China CBEC, with bWellness contributing $5.1m. Oli6® Nutritionals sales in Q2 FY25 were $3.7m, up 45% QoQ and 19% pcp, with the brand continuing to outperform the overall infant formula category. The launch of Oli6® Grow also contributed $0.3m in Q2 FY25 sales. Nuchev reduced inventory by 12.5% during the quarter, optimizing the supply chain and delivering working capital benefits. The Group ended the quarter with $5.0m cash and an additional $0.6m in financing facilities, maintaining a strong financial position.
Outlook
Nuchev remains focused on driving the business to achieve breakeven, and is excited by the opportunities for future growth in its Nutritionals and Wellness businesses, continuing to deliver high-quality, premium products for its consumers.