Our Strategy

Winning the consumer drives growth

The strategy puts the consumer at the centre: more consumers, more consumption, more benefits, and products that are available, visible and affordable.

The consumerat the centre

  1. 01

    More consumers

    Bringing the brands to new households across modern, general and informal trade.

  2. 02

    More consumption

    More eating occasions for household names such as Willards and Sun Jam.

  3. 03

    More benefits

    New flavours, formats and variants in every category.

  4. 04

    Available, visible and affordable

    Being there, being seen and being picked, in pack sizes at affordable prices.

Growth priorities

Four priorities for the next five years

  1. 01

    Capacity

    New biscuit line, baked-beans plant and snacks plant.

    StatusCommissioning FY2026 to FY2028

  2. 02

    Energy

    Generators, grid supply and solar investment.

    StatusGenerators already installed

  3. 03

    Distribution

    Wider general-trade reach and deeper market penetration.

    StatusOptimised distribution

  4. 04

    Mix and inputs

    Product innovation, and strategic sourcing of inputs such as potatoes and fruit.

    StatusGross-margin opportunity

US$30.1m of growth capital expenditure from FY2026 to FY2030.

See the capex plan

Outlook

EBITDA forecast to rise to US$23.0m by FY2030

Near term · FY2026 forecast

Revenue
US$94.4mup 20% on FY2025
EBITDA
US$14.1m14.9% margin

Medium term · FY2030 forecast

Revenue
US$120.0mvolumes up 55% on FY2025
EBITDA
US$23.0m19.2% margin

Gross margin forecast to rise from 13.3% in FY2025 to 29.0% in FY2030 as new lines commission. Debt to be kept at or below about 0.5x EBITDA. Forecasts are the directors' projections.

Shareholder returns

Dividend policy

Target payout ratio
30–40%
The board intends to pay out 30% to 40% of earnings as dividends.
First dividend after Admission
30%
The first dividend after listing is intended at the 30% end of the range.
At the board's discretion
Board
Dividends depend on earnings, cash needs and the capex plan. They are not guaranteed.

Prospective yield at US$0.35

FY2026E
4.0%
FY2027E
4.6%

At the Offer Price of US$0.35, on the directors' projections. Approximate.

Risks

Key risks and how they are managed

Mitigation reduces exposure; it does not remove it. The Prospectus sets out the full risk factors in Section 9; read them before applying.

Key risks, how they are managed and what remains
RiskWhat could happenHow AB manages itWhat remains
Currency and policyChanges in currency or economic policy affect pricing, costs or the ability to transact.Over 95% of revenue is billed in US dollars.Policy changes remain a risk.
Inputs and competitionWeather affects potato and fruit supply; competitors put pressure on prices.Local sourcing of key inputs.Weather and pricing pressure remain.
Energy and projectsNew capacity is delayed, or power and water supply is unreliable.Investment in energy; generators already installed.Capacity depends on timely commissioning and reliable utilities.
Lobels contractCailogistics' contract with Lobels ends in September 2027, reducing revenue by US$13.4m in the forecast bridge.Redeploying the fleet, forecast to recover US$2.4m.The net reduction is built into the forecasts.

Read the risk factors in the Prospectus

Four of the seven directors on Admission are independent, including the Chair.

Meet the board