• Core poultry volume decreased 2.7% compared to prior year
• Revenue declined by 1.9% to $1.6 billion
• EBITDA declined 17.1% to $210.4 million, net profit after tax declined 18.8% to $51.5 million

Inghams Group Limited delivered first half of FY2025 (1HFY25) earnings before interest, tax, depreciation and amortisation (EBITDA) pre AASB 16 of $124.0 million, which is the second highest half-year earnings result since listing. 1HFY25 EBITDA declined 17.1% on prior corresponding period (PCP) to $210.4 million, while net profit after tax (NPAT) declined 18.8% on PCP to $51.5 million. Core poultry volume decreased 2.7% compared to PCP, with a 4.1% decline in Australia partially offset by 5.0% growth in New Zealand. Revenue declined by 1.9% on PCP to $1.6 billion, in-line with volume, with an increase in core poultry net selling prices partially offset by a decline in feed revenue. Total costs within EBITDA declined 0.9% versus PCP, with the impact of the acquisition of Bostock Brothers Limited in New Zealand and other increases offset by cost management initiatives and operational efficiencies. Net debt increased to $397.3 million, broadly in-line with capital expenditure, acquisitions, and an increase in working capital.

Subsequent to the half year end, a fully franked interim dividend of 11.0 cents per share totalling $40.9 million will be paid on 4 April 2025.