Ntaw Holdings (ASX:NTD) withdrew its fiscal 2025 operating earnings before interest, taxes, depreciation, and amortization (EBIT) guidance, citing unmet revenue expectations and a challenging trading environment, according to a Wednesday filing with the Australian bourse.

The company had previously forecast fiscal 2025 operating EBIT in the range of AU$47 million to AU$50 million, but now expects a shortfall, the filing said.

The tires and tubes company also noted that it is unlikely to meet all its covenants linked to its finance facilities with the Commonwealth Bank of Australia (ASX:CBA), which are due to be tested on Dec. 31.

The company said it is in discussions with the bank to seek a waiver of any potential breaches and renegotiate covenant thresholds.

Ntaw Holdings' shares fell 35% in recent Wednesday trade and earlier hit an all-time low, while Commonwealth Bank of Australia's shares were down 1%.

Price (AUD): $0.25, Change: $-0.14, Percent Change: -35.06%