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Elders (ELD) investor relations material
Elders H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary16 Nov, 2025
Executive summary
EBIT increased 12% year-over-year to $143.5m, with underlying NPAT up 34% to $86.0m, supported by strong cash generation and resilient performance across Agency, Real Estate, and Feed & Processing segments despite mixed seasonal and drought conditions.
Diversified portfolio, disciplined financial management, and eight acquisitions, including Delta Agribusiness, enhanced technical expertise, geographic reach, and operational diversification.
Transformational projects, such as SysMod and automation initiatives, are nearing completion, setting up a modernized platform for future growth.
Safety performance improved, with LTIFR at 1.1, well below the industry benchmark of 6.8.
Financial highlights
Sales revenue rose by AUD 70.4 million (2.2%) to $3,201.7m, with gross margin up 7.4% (AUD 47 million) to $684.6m and margin percentage at 21.4%.
Underlying EBIT up AUD 15.5 million (12%) to AUD 143.5 million; underlying EPS up 14% to 46.5 cents.
Return on capital steady at 11.3%, with a target to exceed 15% post-synergies from Delta.
Net debt at AUD 457.3 million, leverage ratio at 2.9x, expected to return to 1.5–2.0x by FY26.
Cash conversion improved to 137%, with operating cash inflow of AUD 117.9 million.
Outlook and guidance
Optimistic outlook for FY 2026, with first six weeks of trading up 30% year-over-year (excluding Delta) and Delta Agribusiness earnings included from November 2025.
EBIT and EPS growth targeted at 5–10% through cycles, with ROC at 15%.
Focus on capital allocation, client profitability, and leveraging SysMod benefits to improve return on capital.
Targeting accelerated realization of AUD 12 million in synergies from Delta, with potential to exceed original ROC targets.
Cost base to remain below inflation, adjusted for acquisitions and transformation.
Detail capital allocation changes for FY26 leverage
Quantify SysMod's FY26 EBIT impact
Beyond Killara, what's the divisional growth strategy
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H1 202625 May, 2026
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Frequently asked questions
Elders Limited is an Australian-based agribusiness company providing a range of services and products to the agricultural sector. The company supports farmers and rural communities by offering agricultural supplies, livestock trading, real estate services, and financial solutions. Elders operates a network of branches throughout Australia, delivering products such as animal health supplies, crop protection, and farm equipment. Additionally, the company provides agronomic advice, insurance, and risk management services tailored to the needs of primary producers. Elders is involved in both domestic and international livestock and wool trading. The company is headquartered in Adelaide, Australia, and its shares are listed on the ASX.
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