Seeka (SEK) H2 2025 earnings summary

Executive summary

• Achieved record profitability and earnings for a second consecutive year, driven by excellent crop yields and quality in New Zealand and Australia, with 47 million trays of kiwifruit packed in NZ (up 10%) and Australian volumes up 25%.

• Continued investment in automation, orchard development, and post-harvest technology supported operational excellence and future harvest readiness.

• Focus on efficiency gains, cost control, and innovation drove significant earnings growth and improved financial resilience.

Financial highlights

• Revenue reached $440 million, up 7% year-over-year from $411 million.

• EBITDA rose 26% to $96 million; EBIT up 34% to $62.6 million.

• Net profit before tax was $47.5 million, up 60%; net profit after tax was $32 million, up 265% on reported FY24 and 50% on normalised FY24.

• Earnings per share were $0.76, up 262% on reported FY24; total dividends for the year were $0.30 per share, with an additional $0.25 per share to be paid in April 2026.

• Net tangible asset backing per share increased 11% to $6.31.

Outlook and guidance

• Infrastructure and systems are in place for the upcoming harvest, with excellent labor availability and three new Reemoon automation installations commissioned.

• Not at peak earnings yet; capacity exists for further growth if volumes increase, but too early for a reliable volume forecast.

• Inflationary pressures expected in packaging and electricity, but margins anticipated to be maintained.