Costa Group Holdings Limited, Australia’s leading grower, packer and marketer of fresh fruit and vegetables today announced its financial results for the full year ended 26th December 2021 (CY21).
Financial Headlines
• Revenue of $1,220.6m.
• EBITDA – S $218.2m + 10.6% vs CY20.
• NPAT –S $64m +16.2% vs CY20.
• Statutory NPAT $41.4m.
• International revenue +30% vs CY20
• Net debt: $299.2m, leverage of 1.85x.
• Dividend of 5.0 cents per share, fully franked (record date 10th March 2022 payment date 7th April 2022).
Quotes from Costa Group CEO, Sean Hallahan
CY21 performance
“It was a record year for Costa’s international segment with 30% revenue growth. This supports our investment strategy to expand our production and supply footprint through utilising our world leading blueberry genetics. The current and projected growth of the middle class in China, the per capita growth in European berry consumption and the opportunities presented by emerging regions, such as India, means Costa is well positioned to benefit as we further invest in growing our international operations.”
“The acquisition of quality citrus assets over the year, including 2PH farms was transformative for our business, highlighted by the successful integration of these assets, and the opening up of further export market opportunities in which to sell our premium citrus offerings.”
“There was strong second half momentum across our domestic produce portfolio, with the only downside being the performance of the avocado category. Sales and earnings in our berry category improved significantly over the prior year and mushroom and tomato volumes were up over the second half, benefiting from solid demand and pricing.”
Outlook
“Early season China yields and demand have been above expectation, with our Moroccan berry harvest building against a strong demand backdrop. Our domestic segment has had a positive start to the year, with strong berry volumes and favourable pricing, tomato volumes are ahead of CY20, mushroom production volumes are significantly improved versus CY20, and the Citrus category will benefit from a full year contribution from 2PH.”
“The significant earnings growth drivers to deliver increased ROIC5 over CY22 includes the commencement of harvesting at our new 50 hectare berry farm in Baoshan, China; full year contributions from our 2PH citrus farms and new 10 hectares of tomato glasshouse; increased volumes of our premium quality blueberry varieties, Arana and Delight, and expected rebound in our Colignan, Sunraysia grape volumes.”
Click here to view the CY21 Key Highlights.
Click here to read the full press release.
For more information: 
Michael Toby
Costa Group Holdings Limited
Tel: +613 8363 9071
