Q1 FY24 Revenue Update

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that is has achieved approximately $4.1m of unaudited revenues for Q1 of FY24, marking a 79% increase on Q1 FY23 revenues of $2.3m. The result provides a strong foundation for the remainder of FY24.

Highlights:

• Unaudited Q1 FY24 revenues of $4.1m, a 79% increase on Q1 FY23
• Follows strong Melodiol group FY 2023 revenues of $21.6m (an increase of 148% on FY 2022)

Health House Australia also provided strong contributions of $1.8m in revenues utilising its position as a trusted supplier within the growing Australian medical cannabis landscape. During Q1 and Q2 the group signed on a variety of new suppliers and looks forward to introducing the Health House Wellness Clinic in Q2 of FY24 (refer to announcement dated 9 April 2024). These activities provide a strong foundation for maintaining or exceeding current sales levels during Q2 of FY24.

Health House UK delivered $647k of revenue. The group continues to see strong demand and will provide updates on further revenue development in due course. During FY23, Health House Australia and UK provided $11.4m in revenue to Melodiol’s group results. Group revenue results of $21.6m in FY23 were an increase of 148%, compared to FY22.

Management commentary:

CEO and Managing Director, Mr William Lay said: “I am very proud of our global teams for the strong start they have delivered to FY24. We continue to see strong demand and engagement from customers across our business units and are working diligently towards growing our substantial revenue base. We look forward to providing further updates to this effect in due course.”

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