Full Year Results Investor Presentation 2023
ADVANCED NUTRITION
Leadership
Naiche Nogueira started as Director of Advanced Nutrition in
January 2023.
Strategy
Five-year Advanced Nutrition strategy refresh completed.
Team structure streamlined and aligned to strategic priorities.
Category focus on early life and adult nutrition (includes
infant formula, paediatric or adult nutrition products) and
advanced ingredients (e.g., lactoferrin products).
Focused on B2B relationships where Synlait can provide
formulated powers in bulk or consumer-ready format or
formulated beverages with key focused partners The a2 Milk
Company, and strategic Chinese and Southeast Asia local
partners.
Business development
Synlait now has its plant-based capability fully ratified,
allowing it to produce non-dairy and dairy/non-dairy hybrid
nutrition products.
Related new product development work initiated and aligned
to strategic priorities.
Achievements
State Administration for Market
Regulation (SAMR) achieved
Synlait achieved re-registration of
The a2 Milk Company's Chinese
labelled Infant Formula
(stages one, two and three)
in June 2023. Re-registration
allows Synlait to manufacture and
export this product for China until
September 2027.
USA market access
ZMILK
至初
幼儿配方奶粉
(12-36月龄,3段)
3
All three Synlait manufacturing sites (Dunsandel, Pokeno
and Auckland) were audited by the US Food and Drug
Administration and received positive outcomes.
Synlait and The a2 Milk Company Nutritional Powders
Manufacturing and Supply Agreement (NPMSA) update
Synlait has received notice from The a2 Milk Company purporting
to cancel the exclusivity arrangements under the NPMSA for
the a2 PlatinumⓇ and other nutritional products. Synlait reminds
investors that:
Synlait disputes that The a2 Milk Company has the right to
cancel the exclusivity arrangements.
The purported cancellation relates only to the exclusivity
arrangements. The NPMSA remains in place but may be
terminated by either party on three years' notice.
The a2 Milk Company has confirmed to Synlait that it will in
practice maintain exclusivity with Synlait until such time as
the matter is resolved (assuming that both parties will seek
to progress the dispute process promptly in good faith, and
the dispute process is completed by the end of 2024). The
dispute resolution process involves a 20-business day period
of good faith negotiation between Synlait and The a2 Milk
Company followed by arbitration (if not resolved).
Synlait continues to hold the Chinese regulatory State
Administration for Market Regulation (SAMR) licence which is
attached to Synlait's Dunsandel manufacturing facilities. The
licence is for The a2 Milk Company's Chinese labelled
Infant Formula (stages one, two and three). The company
expects to manufacture those products for The a2 Milk
Company for goods destined for the China market for the
period of that licence (currently expiring September 2027).
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FULL YEAR RESULTS INVESTOR PRESENTATION 2023View entire presentation