A2 Milk on track to hit $2 billion in revenue

NZ Herald

16 Feb, 2026 12:02 AMQuick Read

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A2 Milk CEO David Bortolussi. Photo / Supplied

The a2 Milk Company is confident it will hit a long-held goal of $2 billion in revenue this year.

Back in 2021, when it had $1.2b in revenue, the listed milk marketer set itself the five-year target as it recovered from being heavily disrupted by Covid-19 and underwent a
change in leadership.

Two years ago, it signalled it may not be reached until 2027. However, today in its half-year results to December 31, 2025, a2 put it firmly back on the table.

Its revenue for the six-month period jumped nearly 19% to $993.5 million with underlying earnings before interest, tax, depreciation and amortisation, which strips out a2’s Pokeno losses, increasing 26% to $164.8m.

Chief executive David Bortolussi today said it had become clear during the period the company would be able to get to the target this year – “it was always possible but wasn’t likely at the beginning of the year”.