In the original version of this article, published earlier today, the ESG graphic was incorrect. A corrected version follows. Overview Key strengths Key risks Established brand and leading position in the Australian biscuit market.Strong brand recognition and customer loyalty. Highly-leveraged capital structure.Operates in a mature, highly competitive market with rising competition from private-label and "better for you" substitute products. Steady cash flow and consistent EBITDA margins. Significant customer concentration in major Australian supermarkets with limited geographical diversification.Exposed to inflationary pressures from higher input costs. . Arnott's continues to benefit from a portfolio of market-leading products in the Australian biscuit segment. We expect the company's established brands to generate strong customer recognition and loyalty, despite a highly-competitive, mature biscuit market. Additionally,
