26 Nov

VTG - Guidance for H1 FY22

ASX ANNOUNCEMENT Vita Group Limited ACN 113 178 519 77 Hudson Road Albion Qld 4010 2 6 November 2021 Market Announcements Office Australian Securities Exchange 4 th Floor, 20 Bridge Street SYDNEY NSW 2000 ELECTRONIC LODGEMENT Dear Sir or Madam Vita Group Limited (ASX:VTG) – H1FY22 Guidance Update In accordance with the Listing Rules, please find attached for immediate release an announcement by Vita Group Limited (ASX:VTG). This announcement has been authorised for lodgement by VTG’s Board o f Directors. Yours sincerely George Southgate Chief Legal and Risk Officer / Company Secretary Vita Group Limit ed Further enquiries: Andrew Ryan Chief Financial Officer Mob: 0417 644 756 George Southgate Chief Legal and Risk Officer / Company Secretary Mob: 0412 514 030 ASX ANNOUNCEMENT Vita Group announces guidance for H1FY22 26 November 2021 Vita Group (ASX:VTG) today announced that it expects to deliver revenues from its Artisan business in the range of $ 12.5 million to $1 2 . 9 million for the six months to 31 December 2021 ( t he Period ) , a decrease of 1 5 to 1 7 per cent on the prior year . This decrease is due to state - based COVID - 19 lockdowns in NSW, Victoria, and ACT forcing the closure of many of Art i san’s clinics between July and mid - October 2021 , as well as higher than expected staff attrition in Queensland . For the Period , Vita Group anticipates that o perational earnings before interest, tax, depreciation, and amortisation (EBITDA) ( pre - AASB - 16, excluding the allocation of corporate overheads) will be in the range of $1. 0 million to $1. 4 million from continuing operations 1 . Vita is finalising the allocation of corporate overhead s following the completion of the sale of its Retail ICT and Sprout businesses to Telstra . R esult s for the Period are subject to final trad ing results , accounting adjustments, and auditor review. Vita Group will report its results for H1FY22 in early 2022. After a long period of negotiation with Telstra and completion of the ICT sale transactio n, Artisan is now Vita’s primary business and growth opportunity. Whilst future economic conditions remain uncertain, t he Vita Group management team will turn its focus to executing the organic growth programs in what is traditionally a seasonally low second half ; attracting, developing, and retaining clinical talent, all of which is key to Artisan’s future success ; and maximis ing and leveraging its corporate support capability while driving efficiencies in operations . “We see great oppo rtunity in the aesthetics category, which has characteristics reminiscent of the mobile phone industry during its early growth stages. We have a clearly defined strategy and now have the time and focus to execute it. We believe in the long - term success of our Artisan business and subsequently that of the Vita Group”, said outgoing Vita Group Chief Executive Officer, Maxine Horne. “We have a skilled team in place to focus solely on executing Artisan’s growth strategy with a strong and flexible balance sheet, which will support and protect our business and provide us with the flexibility to achieve our long - term strategic goals. Vita’s incoming CEO Pete Connors and the team look forward to updating the market further when we announce our half year results in t he new year.” This announcement has been authorised for lodgement by VTG’s Board of Directors. Further enquiries: Andrew Ryan Chief Financial Officer Mob: 0417 644 756 George Southgate Chief Legal and Risk Officer / Company Secretary Mob: 0412 514 030 1 Continuing operations includes Artisan Aesthetics Group and exclud es Retail ICT and Sprout .
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