Noumi Limited's 1H FY24 Financial Report Overview

Noumi Limited (ASX: $NOU) has released its 1H FY24 Appendix 4D and Financial Report, revealing a loss after tax of $27.7m for the period ending 31 December 2023. The report also highlights the company's financial performance, audit qualification, litigation updates, and future financial outlook.

Executive Commentary on Financial Performance and Outlook

The company's financial results for the first half of FY24 reflect the challenges faced in the operating activities, with a loss after tax and net cash outflows. However, we are encouraged by the positive turnaround in the Dairy and Nutritionals segment and the record Adjusted operating EBITDA in the Plant-based Milks segment. While we acknowledge the uncertainties related to ongoing litigations and the material uncertainty concerning going concern highlighted by the independent auditor, we remain focused on leveraging our available cash, financing facilities, and forecast operating cash flows to ensure sufficient liquidity for the next 12 months based on current market conditions and expectations.

Noumi Limited's 1H FY24 Financial Report Summary

Noumi Limited's 1H FY24 Financial Report reflects a challenging period with a loss after tax and net cash outflows. The company's Plant-based Milks segment achieved record Adjusted operating EBITDA, while the Dairy and Nutritionals segment showed a positive turnaround. However, the company is facing uncertainties related to ongoing litigations and a material uncertainty concerning going concern. Despite these challenges, Noumi Limited aims to maintain sufficient liquidity for the next 12 months based on current market conditions and expectations.