AVI (AVI) FY23 – Results Snapshot

Diluted HEPS of 551.8 cps (FY22: 529.2 cps).
Revenue growth of +7.8% y-y (FY22: 4.3%).
GPM increased by 40bps from 38.6% to 39.0%.
Operating margin marginally decreased by 10bps from 18.3% to 18.2%.
Dividend of 482cps (FY22: 462 cps).
Entyce beverages and I&J categories’ operating margin down, while Snackworks, Footwear & Apparel and Personal Care categories’ operating margin up from last year.
Load-shedding disrupted operations with direct costs of R58.5m.
I&J impacted by higher fuel prices, poor catch-rates, load-shedding and lockdown affected abalone sales mix in first half of the year.