Cobram Estate Olives completes share issue to fund US expansion

Core Insights - Cobram Estate Olives (CBO) has secured A$175 million ($115.6 million) in funding for its expansion in the US, including a share placement priced at A$3.2 per share and an additional A$10 million through a share purchase plan [1][2] - The company aims to complete its US expansion project by the end of 2027, with plans to increase its total freehold land in California to approximately 4,500 hectares and planted grove areas to around 3,600 hectares [2] - At full maturity, the new groves are expected to yield over nine million liters of extra virgin olive oil annually, significantly increasing from the current production of 0.5 million liters per year [3] Financial Performance - For the 12 months ending June 30, 2025, CBO reported a revenue increase of 22.1% to A$335.4 million, with a net profit after tax of A$49.6 million, reflecting a substantial increase of 168.1% from FY2024 [3] - The company's EBITDA rose by 74.8% to A$116.6 million, with US operations contributing an EBITDA of A$6.6 million, marking a 14.7% increase from the previous year [4] - Sales of Cobram Estate products in the US more than doubled to A$42.3 million, up from A$21 million in FY2024, accounting for 65.4% of total US sales [4]