The a2 Milk Co remains on track to grow sales to $2 billion and improve EBITDA margins in the ‘teens’ over the medium term.
It expects China’s infant formula market conditions to be more challenging this year.
A2 Milk Co boss David Bortolussi has warned that China’s infant formula market is in a steep decline and will be a more challenging place to do business this year.
The dual-listed company is heavily reliant on the Chinese market, which fell by double-digits in 2023 due to fewer newborns and lower shelf prices.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
