SPC Global has reconfirmed its FY25 guidance of $29 million in normalised earnings before interest, taxes, depreciation, and amortisation (EBITDA). The company said the four changes identified in its 1H25 results identified have been made and the executive team finalised.
Changes since 1H25
Channel Strategies: Developed across five core channels (Retail, Food Solutions & Industrial, International, On the Go and Healthcare) that will enable diversification of revenue across multiple channels and markets. Nature One Dairy international business division is driving growth in Asia Pacific region.
Customers and Consumers: Reactivation of an innovation pipeline, identifying products suitable for global expansion (starting in Asia) and utilising convenient pack formats, such as easy-to-use pouches for fruit purees and bag-in-box for Food Service market.
Demand Led Business: Started transition from a production led business to a demand led business, including the introduction of an integrated business planning process and changes to procurement and manufacturing practices.
Working capital improvements: Transitioned the group’s debt financing to Scottish Pacific and successfully concluded a corporate bond placement designed to fund the growth ambitions of the group and support working capital improvements.
The company’s Mill Park manufacturing facility will close and production will move to the group’s Shepparton site, consolidating operations and enhancing manufacturing capabilities.
SPC said, “The upgraded facility will support our growth and NPD goals through increased production capacity, improved automation, new pack formats and functional product lines. It is expected that the full annualised benefits from this proposal will be achieved in FY27and remains subject to funding.”
The SPC executive had also been finalised. John Harwood is CCO, Brant Clutterbuck is CFO, and Moataz Ahmad is chief supply chain officer for manufacturing procurement and customer supply chain.
Nature One Dairy founder, Nick Dimopoulos, is leading all international sales and Masie Ng is chief HR officer.
SPC Global MD, Robert Iervasi, said operations as a merged business have only been going for one quarter but he can see it makes sense and is delivering good outcomes.
“We have been able to address foundational matters and by doing so we have positioned SPC Global to deliver sustainable shareholder value. While this may take time, the foundations are solid, and early signs are very positive.
“The renewed executive leadership team has hit the ground running, and I look forward to sharing further updates as we bring our strategy to life,” Iervasi said.
Revenue is materially in line with the guidance, the company said, with the company “on track” to meeting its full-year goals.
