• Bega Cheese chair Barry Irvin on the completion of the Lion Dairy & Drinks acquisition by Bega Cheese. Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
    Bega Cheese chair Barry Irvin on the completion of the Lion Dairy & Drinks acquisition by Bega Cheese. Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
  • Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
    Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
  • Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
    Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.
Close×

Bega Cheese generated normalised earnings before interest, depreciation and tax (EBITDA) of $141.7 million in FY2021, up 38 per cent on FY20.

Its $528 million acquisition of Lion Dairy & Drinks more than doubled the size of the company, both in annualised revenue (to around $3 billion) and employees (more than 4000). It also increased its range of branded products from around 59 per cent of the business to more than 80 per cent.

The year also saw long running legal disputes with Fonterra and Kraft-Heinz conclude, the termination of its Derrimut facility, and an operational review.

Bega had consolidated debt of $325 million as of 30 June 2021, compared to $231 million at 30 June 2020, an increase of $94 million. The movement in net debt arose mainly from $125 million of net proceeds from borrowings to partially fund the acquisition of Lion Dairy and Drinks, capital and software investment. The increase was offset by operating cash inflows of $111.4 million.

Bega Cheese announced a final fully franked dividend of 5.0 cents per share for FY21, taking the total dividend for the year to 10.0 cents per share amounting to $30.2 million which compares to 10.0 cents per share and $21.4 million for FY20.

Packaging News

Close the Loop Group is listing on the ASX today, following the completion of an over-subscribed $12 million capital raising, with strong support from institutional and cornerstone investors.

Amcor has opened a new ISO certified medical packaging facility for the APAC region, with co-extruders and flexo printing centre stage at the Singapore-based plant.

PKN’s Nov/Dec 2021 issue is once again packed with latest stories from the world of packaging, shining a light on the latest news, trends and developments in sustainability, e-commerce packaging, packaging innovation, and pack printing and decoration.