Synlait's FY26 net loss widens on manufacturing disruption

Synlait Milk

28/09/2026 24:07

Overview
New Zealand dairy processor reported FY26 revenue of NZ$1.94 bln after difficult first half
Company posted FY26 net loss after tax of NZ$75.4 mln, with smaller underlying loss
Synlait will not provide quantitative earnings guidance for five-month transitional period to Dec 2026

Outlook
Synlait withholds TP26 earnings guidance, citing the five-month period's short, non-comparable and seasonal nature
Company forecasts a 2026/27 base milk price of $9.50/kgMS, excluding incentives
Synlait plans to share its scale strategy in 2027 after stabilising and simplifying operations

Result Drivers
TACTICAL MILK SALES – Tactical raw milk sales generated NZ$37.0 mln of losses as capacity was prioritised for Advanced Nutrition production
MANUFACTURING DISRUPTION – Operational disruption, plan changes and tighter quality controls reduced Advanced Nutrition gross profit 78% to NZ$20.9 mln
CONSUMER AND FOODSERVICE – Consumer gross profit rose 32% on Dairyworks export strength and liquid-milk margins, while Foodservice benefited from pricing and lower fat costs

Company press release: ID:nNZS7mGa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
NZ$1.94 bln
 
FY EBITDA
 
NZ$8.10 mln
 
FY Gross Profit
 
NZ$37.70 mln
 
FY Net Debt
 
NZ$215 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)