FY25 Results, North Island Assets Sale & Annual Meeting

Synlait Milk Limited (Synlait) has announced its financial results for the 12 months ended 31 July 2025 and the entry into a binding conditional agreement to sell its North Island assets. 

Please find the following materials attached:

1. Synlait Full Year 2025 Annual Report

2. Synlait Full Year 2025 Investor Presentation

3. Synlait Full Year 2025 Media Release

4. Synlait Full Year 2025 Shareholder Letter

5. NZX Results Template

6. Synlait Notice of Meeting

7. Synlait Proxy Form

8. Synlait Virtual Meeting Guide

Key financials

• Net profit after tax of $0.8 million (unadjusted ($39.8 million)).
• EBITDA $107.2 million (unadjusted $50.7 million).
• Net debt of $250.7 million.
• New record milk price for the 2024/2025 season of $10.16 per kgMS.
• Entry into a binding conditional agreement to sell the North Island assets to Abbott for approximately US$178 million (NZ$307 million).

Full Year 2026 guidance

FY26 presents a valuable reset for Synlait, with the entry into an agreement to sell its North Island assets. The sale will strengthen the company’s financial position, with the proceeds used to significantly reduce debt. The targeted completion date for the sale is 1 April 2026.

The sale enables Synlait to refocus on its core operations in Canterbury, with a renewed emphasis on operational stability at its Dunsandel facility, which will assist in driving longer-term profitability. Continued growth in the company’s Dairyworks business will also support this focus.

Given the scale of the strategic reset, the company will not provide further financial guidance for FY26, as it concentrates on executing the North Island sale and building a simpler and more focused Synlait in Canterbury.

The Board is committed to making the most of the strategic opportunities ahead and aims to have an updated strategic plan in place by March 2026.

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://s1.c-conf.com/diamondpass/10048681-3n9s5b.html

For further information contact

Media
Jo Scott
Corporate Affairs Manager
P: +64 21 883 123
E: [email protected]

Investors
Hannah Lynch
Head of Milk Supply, Strategy & Corporate Affairs
P: +64 21 252 8990
E: [email protected]

---

Announcement PDF