Synlait Milk (ASX:SM1) announces full year results

Synlait Milk (ASX:SM1) announced financial results for the full-year ended 31 July 2022.

Revenue up 21% to $1.66 billion.

Net Profit After Tax (NPAT) up $67.0 million to $38.5 million.

Adjusted NPAT up $62.4 million to $34.0 million.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) up $91.8 million to $129.1 million.

Adjusted EBITDA up $79.8 million to $117.2 million.

Net debt down 29% to $341.9 million.

Operating cash flows up $214.5 million to $232.9 million.

Impairment charge of $12.2 million due to continued idling of Temuka cheese plant.

Gain on sale and leaseback of Auckland land and building of $11.9 million.

Following the announcement the company?s share price fell 4.100%.