COOTAMUNDRA, Australia, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Australian Oilseeds Holdings Limited, a Cayman Islands exempted company (the "Company") (NASDAQ: COOT) today announced financial results for its fiscal year ended June 30, 2024.

Fiscal 2024 Financial Highlights Compared to Prior Year

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  Sales revenue increased 16.1% to AS33.7 million due to strong demand for the Company's cold-pressed canola oil.
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  Gross margin of 17.5% improved 40 basis points reflecting lower relative production costs partially offset by brand investments along with higher freight and storage.
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  Net loss of A$21.6 million compared to net income of A$1.8 million, mostly A$23.2 million of recapitalization expense.
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  Adjusted EBITDA increased 15.6% to A$4.1 million.

"We are pleased to report strong fiscal 2024 results, reflecting steady progress with our key strategic initiatives," said Gary Seaton, Chief Executive Officer. "Revenues increased by more than 16% driven by strong demand for our cold pressed canola oils and we delivered similar growth in Adjusted EBITDA. Our business momentum continues to build and we remain deeply committed to our mission of eliminating chemicals from the edible oil production and manufacturing systems to supply quality products such as non-GMO oilseeds, chemical free, and organic and non-organic food-grade oils to customers globally. More importantly, a large percentage of Canola seed that is processed by AOH is sourced from regenerative farming practices where contracted farmers are reducing their green house gas emissions for the production of Canola Seed by minimum 50% from the base line."

About Australian Oilseeds Investments Pty Ltd.

Australian Oilseeds Investments Pty Ltd. is an Australian proprietary company that, directly and indirectly through its subsidiaries, is focused on the manufacture and sale of sustainable oilseeds (e.g., seeds grown primarily for the production of edible oils) and is committed to working with all suppliers in the food supply chain to eliminate chemicals from the production and manufacturing systems to supply quality products to customers globally. The Company engages in the business of processing, manufacture and sale of non-GMO oilseeds and organic and non-organic food-grade oils, for the rapidly growing oilseeds market, through sourcing materials from suppliers focused on reducing the use of chemicals in consumables in order to supply healthier food ingredients, vegetable oils, proteins and other products to customers globally. Over the past 20 years, the Company's cold pressing oil plant has grown to become the largest in Australia, pressing strictly GMO-free conventional and organic oilseeds.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends and market size, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, global economic conditions could in the future reduce demand for our products; we could in the future experience cybersecurity incidents; we may be unable to manage or sustain the level of growth that our business has experienced in prior periods; our financial resources may not be sufficient to maintain or improve our competitive position; we may be unable to attract new customers, or retain or sell additional products to existing customers; we may experience challenges successfully expanding our marketing and sales capabilities, including further specializing our sales force; customer growth could deteriorate in the future; we may not achieve expected synergies and efficiencies of operations from recent acquisitions or business combinations, and we may not be able to pay off our convertible notes when due. Further information on potential factors that could affect our financial results is included in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. The forward-looking statements included in this press release represent our views only as of the date of this press release and we assume no obligation and do not intend to update these forward-looking statements.