Synlait reports FY26 result and operational recovery

28/09/2026 08:30 NZDT, ANNREPP

Synlait Milk Limited (Synlait) has announced its financial results for the 12 months ended 31 July 2026.

Please find the following materials attached:

1. Synlait Full Year 2026 Annual Report

2. Synlait Full Year 2026 Investor Presentation

3. Synlait Full Year 2026 Media Release

4. Synlait Full Year 2026 Shareholder Letter

5. NZX Results Template

Key financials

* Reported EBITDA of $8.1 million, with underlying EBITDA of $46.3 million.

* A reported net loss after tax of ($75.4 million), with an underlying net loss after tax of ($21.6 million).

* Net debt of $215.0 million.

* Revenue of $1.94 billion.

* Gross profit of $37.7 million.

The result reflects a difficult first half, followed by a second half in which a return to operational stability flowed through to improved financial performance.

* Reported EBITDA rose from a loss of ($34.7 million) in the first half to $42.8 million in the second.

* Reported NPAT lifted from a first half net loss after tax of ($80.6 million) to a $5.2 million net profit after tax in the second half.

Balance date change

Synlait’s balance date for financial reporting is changing from 31 July to 31 December.

The company is now in a five-month transitional period from 1 August to 31 December 2026 (known as TP26). Synlait’s audited financial statements for TP26 will include comparative figures for the five-month period to 31 December 2025.

Synlait’s next full financial year (FY27) will run from 1 January to 31 December 2027.

TP26 guidance statement

The priorities for TP26 are to maintain the current positive momentum by focusing on operational and quality excellence, optimising product and customer mix and progressing opportunities across Advanced Nutritionals, Ingredients, Foodservice and Consumer channels. The company will also prepare for its first full calendar financial year commencing 1 January 2027.

The transitional period’s financial results will be influenced by the timing of production, sales, working capital movements and other seasonal factors that would ordinarily be measured over a full financial year.

Given the short and non-comparable nature of TP26, Synlait will not provide quantitative earnings guidance for the five months ending 31 December 2026.

The company will continue to keep the market informed of material developments in accordance with its continuous disclosure obligations.

Conference call details

Synlait will hold a briefing on the results at 11:00am (NZ time). Participants can register for the conference call at:

https://synlaitfy26.open-exchange.net/webcast

For further information contact

Jo Scott

Head of Corporate Affairs and Engagement

P: +64 21 883 123

E: jo.scott@synlait.com