Synlait FY21 guidance update
Synlait Milk Limited · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com
NZX: SML
ASX: SM1
21 December 2020
Synlait FY21 guidance update
Synlait Milk Limited (Synlait) has updated its full year 2021 (FY21) guidance. This is due to a revised
demand forecast received from The a2 Milk Company Limited following its 1H21 and FY21 guidance
update released on Friday 18 December 2020. The a2 Milk Company is a strategic customer and
cornerstone shareholder of Synlait.
The updated forecast from The a2 Milk Company has resulted in Synlait making the following adjustments
to its FY21 guidance:
• Synlait now expects total consumer-packaged infant formula volumes to be approximately 35%
lower than FY20.
• As a result of this change, initial estimates, on currently available information, indicate that the
overall FY21 NPAT result will be approximately half that of the FY20 NPAT result.
• Synlait will provide a further update on its FY21 NPAT performance at its 2021 half year result on
Monday 29 March 2021, or as material information becomes available.
Synlait’s Board and Management continue to actively pursue opportunities to mitigate the impact of this
development that include focusing on the execution of its diversification strategy, asset optimisation and
prudently managing costs. There has been no disruption to manufacturing or demand for Synlait’s
ingredient, lactoferrin or consumer-goods businesses, and Synlait remains confident that it can deliver on
its medium to long term objectives.
This updated guidance announcement reflects the impact that COVID-19 has had on Synlait’s strategic
customer. It also remains subject to the ongoing effects of COVID-19 , with consumer behaviour, channel
dynamics and supply chain disruptions all subject to change.
For more information please contact:
Hannah Lynch
Corporate Affairs Manager
P: +64 21 252 8990
E: hannah.lynch@synlait.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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