BGA provides trading update and FY2022 outlook update

On 20 April 2022, Bega Cheese Limited (ASX: BGA) provided the update on business performance and outlook for FY2022.

• In February and March 2022, floods in Central Australia, Northern NSW and Queensland impacted customer deliveries and also increased transport and logistics costs.
• Lockdowns in Shanghai are impacting BGA’s product delivery timetables into China.
• Competition for milk remains robust, farm gate milk prices increased reflecting improved commodity markets.
• BGA pointed that the demand for Global dairy demand and commodity prices remain strong
• Bega Cheese expects its leverage ratio to further reduce in FY2022 to ~2.0.
• The company is expecting a normalised EBITDA of AU$175 to AU$190 million.

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