Applied Nutrition plc, a leading sports nutrition, health, and wellness brand, announces its interim results for the six months ended January 31, 2025 ("H1 FY25"). The company reports strong financial performance with H1 FY25 revenue of ยฃ47.6 million, exceeding IPO guidance. The UK and Europe delivered exceptional year-on-year growth, while International sales declined due to brought forward orders in the Middle East. The company maintains a robust gross margin despite rising whey prices. Adjusted EBITDA was ยฃ13.8m with a margin of c.29%, and free cash flow conversion was strong at 64.5%.
The company highlights significant progress in delivering its global growth strategy, with new customer wins, expansion into new geographies, and successful new product launches. The factory extension completed in August increased revenue capacity to ยฃ160 million.
Current trading remains strong, with record revenues in March, and the company reiterates its full-year outlook. The relatively low exposure to whey protein and careful procurement are expected to mitigate the impact of higher whey prices on margins. The partnership with Holland & Barrett and new US retailer listings underpin more than half of FY26 forecast revenue growth.
The companys CEO, Thomas Ryder, expresses pride in the maiden results and highlights the companys ambition, growth, and strategic progress. He attributes the strong foundation set for the second half to the teams relentless enthusiasm, commitment, and delivery.
No specific debt figures were mentioned in the given text.