Ausnutria Dairy sees strong profit rebound in first half 2025

For the six months ended June 30, 2025, Ausnutria Dairy Corporation Ltd. recorded total revenue of RMB3,886.8 million, a 5.6% increase from RMB3,681.1 million in the same period of 2024. Profit attributable to equity holders surged by 24.1% to RMB180.5 million, up from RMB145.4 million in the prior year. This growth was primarily attributed to the outstanding performance of its own-branded goat milk formulas in overseas markets, which saw a 65.7% year-on-year increase in sales to RMB483.4 million. Gross profit also rose by 1.9% to RMB1,627.7 million.

The company's EBITDA increased by 29.7% to RMB397.5 million, reflecting improved operational efficiency and cost control measures. A notable factor contributing to revenue growth was the strategic acquisition of the remaining 50% shares in Amalthea Group B.V. in October 2024, which added goat cheese to its product lines and generated approximately RMB478.7 million in related revenue. However, sales of own-branded cow milk formulas in the PRC experienced a 14.9% decline to RMB961.4 million.

The increase in net assets by RMB402.3 million was also influenced by a RMB329.2 million exchange difference on the translation of foreign operations due to the appreciation of EUR against RMB. The effective income tax rate rose from 12.7% in 2024 to 25.0% in 2025, mainly due to non-deductible expenses and the impact of Pillar Two rules.