Ricegrowers (SGLLV) H1 2026 earnings summary

Executive summary

• Achieved 14% NPAT growth to AUD 36.6 million and 5% EBITDA growth to AUD 71.3 million in 1H FY26, despite a 3% revenue decline to AUD 884 million.

• Celebrated 75 years, included in the ASX 300 Index, and delivered a 63.3% Total Shareholder Return, outperforming the ASX 300 Accumulation Index.

• Strategic focus on global growth, brand strength, innovation, and operational efficiencies.

• Transitioned to a new market-based divisional structure to drive scale and deepen international expertise.

• Over 60% of revenue generated outside Australia; more than 70% of sales from branded products in 50+ countries.

Financial highlights

• Revenue: AUD 884 million (down 3% year-over-year); EBITDA: AUD 71.3 million (up 5%); NPAT: AUD 36.6 million (up 14%).

• EBITDA margin improved to 8.1% (from 7.4% or 6.9% two years ago).

• Diluted EPS: AUD 0.533 per B Class Share (up 14%); interim dividend: AUD 0.20 per B Class Share (up 33%).

• Total Shareholder Return: 63.3% vs ASX 300 Accumulation Index TSR of 11.4%.

• Operating cash inflow: AUD 80.2 million; net debt reduced to AUD 169 million; gearing at 20%.

Outlook and guidance

• Reaffirmed expectation for top and bottom line growth in FY26.

• Growth supported by brand strength, innovation, expansion in the Middle East, recovery in rice tender pricing, and animal feed growth.

• Challenges include competition, FX headwinds, inflation, and need to preserve paddy for premium markets due to drier season.

• Updated CY25 paddy price range for Riverina growers to AUD 385–420 per tonne.

• FY27 Australian rice crop expected to be substantially lower due to dry conditions, but diversified sourcing mitigates risk.