PGG Wrightson (PGW) H2 2026 earnings summary

Executive summary

• Operating revenue reached NZD 1.1 billion, up 10% year-over-year, marking the first time exceeding NZD 1 billion since 2019 divestment.

• Operating EBITDA rose 15% to NZD 64.3 million, and net profit after tax increased 46% to NZD 15.6 million.

• Strategic acquisitions and integration, notably Nexan, contributed to business expansion and innovation.

• Earnings per share were NZD 0.206, surpassing the target and prior year by NZD 0.065.

• Fully imputed dividends totaled NZD 0.10 per share for the year.

Financial highlights

• Operating revenue up NZD 99 million (10%) and EBITDA up NZD 8.2 million (15%) year-over-year.

• Net profit after tax up NZD 4.9 million (46%) year-over-year.

• Cash flow from operating activities increased by NZD 40.2 million to NZD 52.6 million.

• Fully imputed final dividend of NZD 0.055 per share, totaling NZD 0.10 for the year.

• Earnings per share reached NZD 0.206, up NZD 0.065 year-over-year.

Outlook and guidance

• Entering FY27 with strong sector fundamentals, supported by robust international demand and favorable commodity prices.

• Risks include commodity price volatility, weather (notably El Niño), geopolitical tensions, supply chain disruptions, and input costs.

• Too early to provide FY27 guidance; update expected at the October shareholder meeting.

• India-New Zealand Free Trade Agreement offers optimism for future growth.

• Farmer confidence remains resilient despite rising input costs.