Barramundi Group (BARRA) H2 2024 earnings summary

Executive summary

• Recorded a net loss from continuing operations of $8.6M for FY2024, with total comprehensive loss of $8.6M, an improvement from $13.1M loss in FY2023.

• Revenue from continuing operations was $13.9M, down from $16.6M year-over-year.

• Discontinued operations (Australia) were deconsolidated in 2023 after voluntary administration and liquidation.

• A Scheme of Arrangement was approved in July 2025 to restructure debts and recapitalize the business.

Financial highlights

• Revenue declined 16% year-over-year to $13.9M.

• Net loss from continuing operations was $8.6M, compared to $4.6M in 2023.

• Cash and cash equivalents at year-end were $1.8M, down from $3.6M.

• Gross margin impacted by higher raw material costs and fish mortalities.

• Total assets at year-end were $29.6M, with total liabilities of $28.9M.

Outlook and guidance

• The Scheme of Arrangement includes new capital raising, debt settlements, and operational restructuring.

• Cash flow projections for the next 12 months assume improved working capital, reduced costs, and asset realisation.

• Management expects the Group to continue as a going concern based on the Scheme and new funding.