Australian Agricultural Company (AAC) H2 2026 earnings summary

Executive summary

• Achieved record operating profit of AUD 71.6 million, up 23% year-over-year, and record statutory net profit after tax of AUD 107.3 million, reversing a prior year loss, driven by premium Wagyu beef sales, disciplined cost management, and strategic investments in genetics, supply chain, and sustainability.

• Total revenue reached AUD 422.1 million, a 9% increase year-over-year, supported by higher beef prices and disciplined sales execution.

• Resilience demonstrated through effective response to North Queensland floods, with minimal operational disruption and supply chain adaptability.

• Strategic focus on Better Beef, unlocking land value, and partner/invest initiatives advanced, supporting long-term growth.

• Continued investment in genetics, finishing capacity, and sustainability projects to enhance supply chain and environmental outcomes.

Financial highlights

• Operating profit was AUD 71.6 million, a 23% increase from the prior year and the highest since 2019.

• Statutory after-tax profit was AUD 107.3 million, boosted by a AUD 128.6 million unrealized fair value gain on livestock.

• Total revenue reached AUD 422.1 million, up from AUD 387.9 million year-over-year, with beef sales of AUD 314.4 million.

• Core free cash flow improved by AUD 11.4 million to AUD 0.8 million, reflecting stronger underlying cash generation.

• Net tangible assets per share increased 15% to AUD 2.92, driven by livestock and property value increases.

Outlook and guidance

• Expect continued strong global beef demand, despite geopolitical tensions and tariffs, with focus on premiumisation, cost discipline, and resilience.

• Monitoring Middle East conflict impacts on costs, with proactive hedging and supply chain management in place.

• Ongoing investments in compliance and traceability to maintain EU market access.

• No specific guidance on carbon credit earnings; first ACCUs from Glentana project expected in coming years.