NTAW Holdings Limited (ASX: NTD) has withdrawn its FY25 guidance, previously forecasting an operating EBITDA of AU$47-AU$50 million (compared to FY24's AU$42.3 million). The revision reflects weaker-than-expected revenue growth in a challenging trading environment, with uncertainty about recovery for the remainder of FY25. In response, the company has implemented cost-cutting measures and scaled back growth strategies. Additionally, NTAW has announced a leadership change, with Warwick Hay set to replace Peter Ludemann as CEO effective 1 January 2025.
The company has also indicated the likelihood of not meeting financial covenants associated with its facilities from the Commonwealth Bank of Australia when tested on 31 December 2024. Discussions are underway with the bank to renegotiate covenant terms and address potential breaches. Further, NTAW is negotiating with Goodyear regarding the timing of the final Dunlop inventory payment. The company remains focused on closely managing its cash flow during these challenging times.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
