Ricegrowers (SGLLV) H2 2026 earnings summary

Executive summary

• Delivered solid FY26 results with disciplined execution, margin discipline, and focus on higher-margin branded products, despite revenue pressures and intensified competition.

• Revenue reached AUD 1.8 billion, down 3% year-over-year, with EBITDA at AUD 143.6 million and NPAT up 4% to AUD 73.3 million.

• Maintained an 8% EBITDA margin and delivered a record fully franked annual dividend of AUD 0.70 per share, with a 68% payout ratio.

• Strategic focus on product innovation, global sourcing diversification, and expansion in branded segments and key markets.

• Continued progress on the 2030 Growth Strategy and operational efficiencies.

Financial highlights

• Revenue: AUD 1.8 billion (down 3% year-over-year).

• EBITDA: AUD 143.6 million (down 3% year-over-year), margin steady at 8%.

• NPAT: AUD 73.3 million, up 4% year-over-year.

• Diluted EPS: 102.6 cents, up 1% year-over-year.

• Operating cash flow: AUD 141.8 million; free cash flow: AUD 105 million.

Outlook and guidance

• FY27 revenue expected to be slightly below FY26 due to a smaller Australian crop and FX headwinds, with NPAT and margins materially lower.

• Underlying growth projected in branded categories, but bulk rice tenders likely to be missed.

• Earnings expected to be skewed to the second half of FY27 due to transitional costs.

• Positive cash flows anticipated, supported by lower inventory and a strong balance sheet.

• Continued investment in cost savings, global sourcing, and capital expenditure.