Seeka (SEK) H1 2025 earnings summary

Executive summary

• Achieved record unaudited six-month results to June 30, 2025, with net profit after tax of $37.8 million, more than double the prior period, driven by increased kiwifruit volumes in New Zealand and Australia and strong operational performance.

• All business segments reported improved results, with higher yields and strong performance in both New Zealand and Australia.

• Investments in post-harvest automation and technology upgrades, including Reemoon, supported operational efficiency and future growth.

• Net bank debt reduced by $40 million to $130.6 million, supporting balance sheet resilience.

• Dividend payments totaled $0.15 per share in the first half, with another $0.15 per share declared for October 2025.

Financial highlights

• Revenue rose 8% year-over-year to $307.9 million; EBITDA increased 22% to $83.5 million; net profit before tax up 32% to $59.4 million; net profit after tax up 121% to $37.8 million.

• Earnings per share reached $0.90, up from $0.41; dividend declared at $0.15 per share.

• Net tangible assets per share increased 9% to $6.44.

• Operating cash flow was $62.9 million, up from $50.5 million year-over-year.

• Net bank debt reduced by $40 million to $130.6 million.

Outlook and guidance

• Upgraded full-year profit before tax guidance to $35–$39 million, from previous $33–$37 million.

• Guidance is subject to variables including fruit performance in storage and sales of Asian and European pears.

• Focus remains on automation, operational efficiency, and maintaining a resilient balance sheet.

• Early signs point to a potentially strong 2026 kiwifruit season due to favorable winter chill.