Comvita (CVT)•HY26•Released 23 February 2026Comvita swung to $4.6m NPAT, but FCF leans on $52m inventory unwindThe operating turnaround is real, yet FCF-to-NPAT of 357.3% reflects working-capital release and a 76% capex cut rather than steady-state cashPublished 21 April 2026Read briefing→
Comvita (CVT)•HY24•Released 21 February 2024Revenue -7.8% drove PBT to a $4.2m loss as net debt/EBITDA hit 14xChina weakness pushed operating cash flow negative, lifted leverage to 14x EBITDA and forced a 60% dividend cut despite a held 60% gross margin.Published 23 April 2026Read briefing→