Synlait publishes HY26 result and recovery roadmap

23/03/2026 08:30 NZDT, HALFYRP

Synlait Milk Limited (Synlait) has announced its financial results for the six months ended 31 January 2026.

Please find the following materials attached:

1. Synlait Half Year 2026 Announcement

2. Synlait Half Year 2026 Chair & CEO Review

3. Synlait Half Year 2026 Financial Statements

4. Synlait Half Year 2026 Investor Presentation

5. Synlait Half Year 2026 Shareholder Letter

6. NZX Results Template

Key financial metrics

- A reported EBITDA loss of ($34.7 million)*, with underlying EBITDA of $4.1 million.

- A reported net loss after tax of ($80.6 million), with an underlying net loss after tax of ($27.3 million).

- Net debt of $472.1 million – an increase of 88%.

- Revenue of $949 million* – an increase of $32.3 million.

- Gross profit of $3.1 million* – a decrease of $83.9 million.

- Forecast base milk price for the 2025/26 season is $9.50 per kg MS with additional premium payments taking the total forecast average milk payment to $9.90 per kg MS.

Note the comparisons are to HY25 and the items marked * include both continued and discontinued operations.

Looking ahead to the second half, and as noted in Synlait's full-year results in September 2025, the company will not provide FY26 financial guidance. The Board has withdrawn guidance for the remainder of the financial year.

Conference call details

CEO Richard Wyeth and CFO Andy Liu will host a webcast briefing on the result at 10.00am (New Zealand time).

Participants can register for the webcast here: https://ccmediaframe.com/?id=3vkj76Rx

A transcript and recording of the webcast will be available on Synlait's website shortly afterwards.

For more information contact:

Investors

Hannah Lynch

Head of Milk Supply, Strategy & Corporate Affairs

E: hannah.lynch@synlait.com

P: +64 21 252 8990

Media

Jo Scott

Corporate Affairs Manager

E: jo.scott@synlait.com

P: +64 21 883 123