MOA Trading Update – Interim Results

Following on from our recent market announcement Moa Brewing Company (NZX:MOA) can now confirm the following as interim results for the six months ended 30th September 2018. Moa recent results has seen the brand grow at 25% in New Zealand Supermarkets (QTR end August 2018) which is 3 times the rate of the growth seen in the total craft beer market. This has been driven through the success of its recent new product development and its new sales joint venture with Constellation Brands which has seen its sales force significantly grow in size to allow for much more frequent sales calls to key customers. Moa brand revenue was up 21% year-over-year and in September 2018 Moa replaced the Parrot Dog agency with Ballast Point, a Constellation Brands craft beer from the United States. Overall revenue was up 6% versus FY18 when including the Parrot Dog agency revenue, which Moa discontinued in November 2017. Under new International Financial Reporting Standards in place revenue now includes excise tax. EBITDA loss is reported to be $1.17m compared with a loss of $1.28m in the corresponding period. Moa confirms it continues to work on being breakeven for the final 6 months of FY19 and that summer trading to date is broadly in line with expectations. Geoff Ross comments: "Overall myself and the Board are optimistic with the strategic direction of the business and the success we are having in the New Zealand market. Our role is clear which is to continue to build strong top line, with a real focus to drive towards profitability, and find creative solutions for building scale through partnerships like we have secured with Constellation Brands in New Zealand." End CA:00327545 For:MOA Type:INTERIM Time:2018-11-29 08:31:08