Mighty Craft Limited announced FY22 results and FY23 outlook

Mighty Craft Limited (ASX: MCL) announced its FY22 results for the period ended 30 June 2022 and FY23 outlook:

• In FY22, the company reported revenue from continuing operations of AU$62.6 million, a 191% increase from the previous corresponding period, with Better Beer sales revenue of AU$9.0 million or 4.3 million liters from the launch in October 2021.
• It has reported an EBITDA loss from continuing operations of AU$11.6 million compared to an AU$12.1 million loss in FY21.
• At the end of FY22, Mighty Craft had a closing cash balance of AU$3.7 million with AU$5.7 million of the upsized debt facility with Pure Asset Management undrawn.
• For FY23, the company targets the sale of Beer / Cider / RTD volume of 14 million liters, Spirits sales totaling 400,000 bottles, and Whisky under maturation of 535,000 liters.

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