Noumi lifts revenue and EBITDA as Milklab and dairy turnaround underpin H1 FY26

Noumi Limited ( (AU:NOU) ) has issued an announcement.

Noumi Limited reported an 11.2% rise in group revenue to $332.7 million and a 23.3% increase in adjusted operating EBITDA to $33.9 million for the first half of FY26, driven by record sales in Plant-based Milks and a strong turnaround in Dairy & Nutritionals. Despite a statutory net loss after tax of $24.2 million, largely due to non-cash fair value adjustments on Convertible Notes, underlying earnings were positive and management highlighted sufficient liquidity and continued exploration of options ahead of the notes’ 2027 maturity.

The Milklab-led Plant-based Milks segment delivered robust margins while absorbing higher brand and marketing spend, as retail sales surged and exports and HORECA sales grew, reinforcing Milklab’s push toward becoming an international brand. Dairy & Nutritionals more than doubled adjusted operating EBITDA on the back of higher export demand and improved bulk cream pricing, enabling Noumi to lift sales and marketing investment by 50% and signalling greater confidence in the company’s growth agenda and operational recovery.

The most recent analyst rating on (AU:NOU) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on Noumi Limited stock, see the AU:NOU Stock Forecast page.

More about Noumi Limited

Noumi Limited is an Australian food and beverage company specialising in plant-based and dairy milks, as well as nutritional products and ingredients. The group’s portfolio includes its flagship Milklab brand, which serves both plant-based and dairy segments across domestic retail, export, and HORECA channels, with a growing focus on South East Asia and other high-potential international markets.

Average Trading Volume: 42,328

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$33.25M

For detailed information about NOU stock, go to TipRanks’ Stock Analysis page.