Seeka (SEK) H1 2026 earnings summary

Executive summary

• Achieved record net profit before tax of $62.6 million for the six months ended 30 June 2026, up 5% year-over-year, and net profit after tax of $45.4 million, up 20%.

• Basic earnings per share rose 19% to $1.07, despite a 4% decline in New Zealand kiwifruit volumes.

• Automation and technology investments, including three new Reemoon solutions, drove efficiency gains and improved fruit quality.

• Achieved a 30% reduction in greenhouse gas emissions from 2022 base, on track for 50% reduction by 2030.

• Net bank debt reduced to $119.8 million, $10.8 million lower than June 2025 and $51.1 million lower than June 2024.

Financial highlights

• Revenue for the period was $305.5 million, down 1% year-over-year, reflecting a 4% decline in the NZ kiwifruit crop.

• EBITDA increased 3% to $86.3 million; EBIT up 4% to $69.7 million.

• Net tangible asset backing per share up 11% to $7.12.

• Interim dividend of $0.20 per share announced, payable October 15, 2026.

• Net profit after tax increased 20% to $45.4 million.

Outlook and guidance

• Full-year NPBT guidance raised to $39.0–$43.0 million, up from previous $38.0–$42.0 million.

• Second half expected to be weaker due to lower fruit volumes in storage compared to last year.

• Positive outlook for 2027 kiwifruit season due to favorable winter chill and ongoing automation and sustainability initiatives.

• Company evaluating future capacity and growth opportunities, but no major acquisitions or greenfield investments planned.