The a2 Milk Co Ltd

ATM: XNZE (NZL)

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A2 Milk Earnings: Supply Issues Restrict Market Share, but Demand Is Strong

Angus Hewitt

Aug 17, 2026

A2 Milk's fiscal 2026 EBITDA was NZD 284 million, 2% lower than last year. Revenue grew 12%, and English-label and fresh milk earnings grew. But operating losses at the newly acquired and underutilized Pokeno facility, in addition to Chinese-label infant formula supply constraints, offset this.

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The a2 Milk Co Ltd

A2 Milk Earnings: Supply Issues Restrict Market Share, but Demand Is Strong

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