NDR takeaways: Strong 2B sales momentum into 2H with margin opportunities on other dairy product amid prolonged cycle; Buy | | | 1 September 2025 | 9:49PM HKT Mengniu Dairy (2319.HK) We hosted Mengniu NDR in Singapore on Sep 1st. Key takeaways include: 1) Management guided MSD-HSD % top line decline in FY25, but expected overall liquid milk to decline slightly with narrowing trend in 2H25 vs. 1H25 (-11%). The company remains cautious on the gifting demand trend for mid autumn festival in 3Q and also for 4Q ...

New research suggests that eating too much cheese or other dairy before bed is linked to more bad dreams, especially for those who are lactose intolerant https://t.co/DH7yBbNL3P ...

New research suggests that eating too much cheese or other dairy before bed is linked to more bad dreams, especially for those who are lactose intolerant. But some can’t resist. https://t.co/Qg1O4BQ8Op ...

I would really appreciate a massive tub of butter or cheese in this very moment.Thank you ...

Group 1 - Saputo Inc. announced the election of its board of directors at the annual meeting of shareholders held on August 8, 2025 [1] - The nominees received significant support, with voting results showing high percentages of approval, such as Victor L. Crawford receiving 99.94% of votes in favor [2] - The company is recognized as one of the top ten dairy processors globally, producing a wide range of dairy products including cheese, fluid milk, and dairy alternatives [3] Group 2 - Saputo is a leading cheese manufacturer in Canada and ranks among the top three cheese producers in the USA [3] - The company operates in multiple countries, including Australia, Argentina, and the United Kingdom, where it holds leading positions in dairy processing [3] - Saputo's products are marketed under both market-leading brands and private label brands, indicating a strong presence in the dairy market [3]

Group 1 - Saputo Inc. will hold its Annual Meeting of Shareholders on August 8, 2025, at 10:30 a.m. (Eastern Time) in a hybrid format, both in-person and via live webcast [1] - The company will release its fiscal 2026 first quarter results on August 7, 2025, with a press release issued after market close and a conference call scheduled for August 8, 2025, at 8:30 a.m. (Eastern Time) [2] - The conference call will feature Mr. Carl Colizza, President and CEO, and Mr. Maxime Therrien, CFO and Secretary [2] Group 2 - Saputo is one of the top ten dairy processors globally, producing a wide range of dairy products including cheese, fluid milk, and dairy ingredients [5] - The company is a leading cheese manufacturer in Canada, a top dairy processor in Australia, and the leading dairy processor in Argentina [5] - In the USA, Saputo ranks among the top three cheese producers and is a significant producer of extended shelf-life and cultured dairy products [5] - In the UK, Saputo is the leading manufacturer of branded cheese and dairy spreads [5] - The company also produces and distributes dairy alternative products and operates under market-leading and private label brands [5]

Per media reports, the government is reportedly planning to roll out nationwide maternity/child-raising subsidies amount to Rmb3,600 per annum for each legally born infant/young child until they reach 3 years old, equivalent to Rmb300 per month. For children born before Jan 1, 2025, and under 3 years old, the subsidy would be calculated proportionally based on the number of months they are eligible. Specifically, per the media report, the central government policy would feature: 1) An extended duration of 3 ...

Core Insights - Saputo Inc. released its 2025 Saputo Promise Report, highlighting key ESG achievements and completing its three-year corporate responsibility strategic cycle [1][3] - The Saputo Promise consists of seven pillars aimed at nourishing, protecting, and supporting communities [2] ESG Achievements - In FY25, Saputo was recognized as one of the World's Best Companies of 2024 by TIME magazine, reflecting the strength of its workforce and community support [7] - The company reduced its overall employee turnover rate to 18%, down from 23% in FY23, and invested CDN$11.2 million in employee training and development [7] - Over the past three years, Saputo invested more than CDN$4 million in projects to support sustainable farming practices among dairy farmers in Canada, the UK, Australia, and the US [7] - The company's carbon intensity decreased by 22% compared to its FY20 baseline, surpassing its initial target of 20% [7] - Saputo expanded its Legacy Program to 88 projects globally, investing over CDN$4 million and covering 67% of the communities where it operates [7] - The company donated more than 1.4 million kilos of products to local food banks, enough to feed over 4 million people [7] Future Plans - Saputo's new three-year cycle (FY26-FY28) will focus on key global priorities while advancing all aspects of the Saputo Promise [4] - The company introduced new 2030 Environment Pledges, including science-based emissions reduction targets validated by SBTi, improved water use, and streamlined waste and packaging targets [4]

5 June 2025 | 10:59PM HKT Mengniu Dairy (2319.HK): Consumer & Leisure Corporate Day: UHT milk demand softness persists; investing in channels for share gain We hosted Mengniu's IR team at our Consumer & Leisure Corporate Day on Jun 5. Key takeaways include: 1) Recent trends: Company noted still weak YTD demand trend for UHT liquid milk, with Apr/May trends tracking largely similar to 1Q25 without notable consumption sentiment uptick. YTD trends showing healthy growth in fresh milk/chilled yogurt and other c ...

Core Viewpoint - Saputo Inc. demonstrated resilience and growth in fiscal 2025, with strategic initiatives leading to improved cash generation and operational efficiencies despite a challenging environment [2][3]. Financial Highlights - Revenues for Q4 2025 reached $4.753 billion, an increase of $208 million or 4.6% from Q4 2024 [5][30]. - Adjusted EBITDA for Q4 2025 was $376 million, down $3 million or 0.8% from the previous year [6][44]. - Net earnings for Q4 2025 totaled $74 million, a decrease of $18 million or 19.6% compared to Q4 2024 [6][42]. - Adjusted net earnings for Q4 2025 were $128 million, down 17.9% from $156 million in Q4 2024 [6][70]. Sector Performance Canada Sector - Revenues increased to $1.258 billion in Q4 2025, up from $1.192 billion in Q4 2024 [74]. - Adjusted EBITDA rose to $157 million, a 13.8% increase from the previous year [74]. USA Sector - Revenues for Q4 2025 were $2.140 billion, up from $1.928 billion in Q4 2024 [75]. - Adjusted EBITDA increased to $148 million, reflecting a 7.2% growth [75]. International Sector - Revenues decreased to $1.020 billion in Q4 2025 from $1.135 billion in Q4 2024 [80]. - Adjusted EBITDA fell to $47 million, a decline of 46.6% [80]. Europe Sector - Revenues increased to $335 million in Q4 2025, up from $290 million in Q4 2024 [84]. - Adjusted EBITDA improved to $24 million, a significant increase from $15 million in the previous year [84]. Operational Insights - The company incurred restructuring costs of $80 million in Q4 2025, primarily due to a non-cash asset write-down related to the Dairy Division (UK) [7][38]. - The USA Sector faced challenges from unfavorable milk-cheese spreads, impacting adjusted EBITDA by $20 million [46]. - The International Sector's performance was negatively affected by the Argentine peso devaluation and higher production costs [47][54]. Future Outlook - The company anticipates organic sales growth, particularly in the USA Sector, supported by operational efficiencies and capital investments [11]. - Expected capital expenditures for fiscal 2026 are approximately $360 million [11]. - The company plans to continue share repurchases under its NCIB program, reflecting confidence in its financial position [12].