The a2 Milk Company Limited ASX:A2M Price, Chart, News & Insight

a2 Milk Company reported strong demand for its infant milk formula products in China but warned that supply chain disruptions will weigh on its FY2026 performance.

The company highlighted robust sales momentum across both China-label and English-label products, supported by marketing initiatives and competitor product recalls. However, temporary supply constraints—driven by freight disruptions, production backlogs, stricter quality testing, and customs delays—are expected to impact product availability, particularly in April and May.

As a result, a2 Milk downgraded its outlook, now expecting lower infant formula sales, reduced EBITDA margins of around 14.0%–14.5%, and weaker cash conversion. Despite near-term challenges, the company plans continued investment to support long-term growth and supply chain improvements.

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WS Investor 04-13-26

The The a2 Milk Company Limited (NZX: ATM, ASX: A2M) announced it has reached an in-principle agreement to settle a shareholder class action related to its FY21 disclosures and guidance.

The legal proceedings, initiated in 2021 and later consolidated in the Supreme Court of Victoria, represented investors who held shares between August 19, 2020, and May 9, 2021.

The company agreed to a settlement of AUD 62 million, covering interest and legal costs. The payment will be fully funded through insurance, meaning there will be no impact on FY26 earnings. The company also emphasized that the agreement does not constitute any admission of liability.

The settlement remains subject to formal documentation and court approval.

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The Investor 04-07-26

a2 Milk Upgrades FY26 Guidance After Strong First-Half Performance

The a2 Milk Company reported strong first-half FY26 results, driven by broad-based revenue growth across all segments and improved underlying profitability .

Revenue rose 18.8% year-on-year to NZ$993.5 million, supported by solid performance in Infant Milk Formula (IMF), Liquid Milk and Other Nutritionals. EBITDA increased 18.4% to NZ$155.0 million, while underlying EBITDA climbed 25.9%, lifting the underlying margin to 16.6%, up 0.9 percentage points .

Infant Milk Formula revenue grew 13.6%, with English label IMF up 20.9% and China label IMF up 6.5%, reaching record market share. Other Nutritionals surged 42.9% following new product launches in kids and seniors categories, while Liquid Milk revenue increased 18.5% .

Net profit after tax rose 9.4% to NZ$112.1 million, and the company declared an interim dividend of 11.5 cents per share .

Reflecting the strong performance, a2 Milk upgraded its FY26 revenue growth guidance from low double-digit to mid double-digit growth and expects an improved EBITDA margin range .

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The Investor 02-16-26

The a2 Milk Company will release its 1H26 financial results for the six months ended 31
December 2025 on Monday 16 February 2026.

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European Investor 01-19-26

The a2 Milk Company upgraded its FY26 revenue guidance, citing stronger-than-expected trading across Infant Milk Formula, Other Nutritionals and Liquid Milk, along with favourable currency movements due to NZD depreciation. While the weaker currency is expected to lift both sales and expenses, the net impact on EBITDA after hedge losses is not expected to be material.

On a continuing operations basis, the company now expects low double-digit revenue growth in FY26 compared with FY25, with first-half growth running ahead of the second half. English-label IMF sales are expected to grow significantly faster than China-label IMF.

EBITDA margin is forecast at approximately 15 to 16 percent. Depreciation and amortisation are expected to be 20 to 24 million dollars, while interest income will be lower due to reduced market rates and net cash outflows. NPAT is projected to be slightly higher than FY25, with cash conversion of about 80 to 90 percent and capital expenditure of 60 to 80 million dollars.

FY25 continuing operations revenue was 1.757 billion dollars and FY25 reported NPAT was 203 million dollars.

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The Investor 11-20-25

a2 Milk expands China partnership to include English label products

The a2 Milk Company announced an expansion of its long-term strategic cooperation with China State Farm Agribusiness Holding Shanghai (CSFA), a subsidiary of the state-owned China National Agriculture Development Group. The new agreement adds English label infant milk formula products, starting with a2 Genesis from early 2026, to the existing exclusive import and distribution partnership covering China label products.

CSFA has been a2 Milk’s distribution partner since 2013, helping grow its China label range to over 100 distributors and around 30,000 mother-and-baby stores nationwide. The extended deal will streamline logistics and warehousing, strengthen control over English label distribution, and enhance brand confidence through collaboration with a state-owned enterprise.

a2 Genesis, launched in the second half of 2025, targets the premium segment with human milk oligosaccharides supporting gut health and immunity. The agreement was formalized at the China International Import Expo in Shanghai, highlighting both companies’ ongoing cooperation in China’s dairy nutrition market.

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European Investor 11-10-25

a2 Milk senior leaders receive new long-term incentive grants

The a2 Milk Company Limited (NZX: ATM) disclosed that several members of its executive leadership team have been granted new performance rights under the company’s Long Term Incentive Plan on 9 October 2025. These rights entitle recipients to acquire fully paid ordinary shares in the company, subject to performance conditions and vesting dates aligned with FY2026 to FY2028 results.

Key executives receiving grants include Chief Executive for Greater China Xiao Li (178,568 performance rights), Managing Director – International Yohan Senaratne (72,383), Managing Director – USA Kevin Bush (65,195), Managing Director – ANZ and Strategy Eleanor Khor (66,967), Chief Financial Officer David Muscat (87,159), Chief Legal and Sustainability Officer & Company Secretary Jaron McVicar (48,603), Chief Marketing Officer Edith Bailey (44,612), Chief Supply Chain Officer Ping Zhang (54,614), and Chief People and Culture Officer Amanda Hart (39,102).

These grants are part of the company’s regular remuneration framework aimed at rewarding long-term value creation and aligning executive incentives with shareholder outcomes. No cash consideration was paid for the allocations.

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WS Investor 11-06-25

A2 Milk Company – Notification of Cessation of Securities

Date of Announcement: July 14, 2025
Security Affected: A2MAD – Performance Rights (Unquoted)
Number of Securities Ceased: 26,763

Reason for Cessation:
The conditional rights lapsed because the conditions were either not met or became incapable of being satisfied.

Date of Cessation: June 30, 2025
Remaining A2MAD Performance Rights: 7,200,635
Ordinary Shares on Issue (A2M): 724,019,118

No consideration was paid for the cessation, and there is no additional information provided by the company.

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Global Finance News 07-16-25

UBS Discloses Substantial Holding in The a2 Milk Company

UBS Group AG and its related entities disclosed to NZX Limited and The a2 Milk Company Limited that they have become a substantial holder of the company’s ordinary shares. The holding began on May 21, 2025. UBS and its related corporate entities now collectively own 36,286,808 shares, representing approximately 5.01% of the total 724,019,118 shares on issue.

This holding comprises various types of interests, including fund management control, prime brokerage rights, beneficial ownership, and derivative positions (such as cash-settled swaps and options). These interests are distributed across multiple UBS entities including UBS AG’s Australia and London branches, UBS Securities Australia Ltd, and UBS Asset Management divisions in several countries.

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European Investor 05-26-25

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