• Revenue up 54.1% to $104.5 million
• Net profit after tax up 1280.2% to $28.7 million
• 2025 crop forecast between 24,000 MT - 26,500 MT

Select Harvests Limited, one of the world's largest fully integrated almond companies and the second largest almond producer in Australia, has reported a strong financial performance for the first half of FY2025. Revenue from continuing ordinary activities increased by 54.1% to $104.5 million, while net profit after tax attributable to members was up 1280.2% to $28.7 million. The company's strategy, focused on four key pillars, is positioning it to leverage the positive almond macro-economic conditions. Select Harvests continues to make progress on its strategy, with a strong focus on increasing almond volumes, improving processing scale and efficiency, and maximizing returns from its almond crop. The company is forecasting a 2025 almond crop in the range of 24,000 MT - 26,500 MT, with the midpoint of 25,250 MT used as the basis for fair value accounting. The quality metrics for the 2025 crop are positive, and the company expects another year with a good quality profile of inshell and kernel, which will help support pricing. Select Harvests has also continued to increase its market share of third-party processing, which will make up approximately 25% of its total processing volumes. The company's balance sheet remains strong, with debt levels approaching their seasonal peak at 31 March 2025, but expected to decrease during the second half of FY2025 as the 2025 crop is sold.

The company is forecasting a 2025 almond crop in the range of 24,000 MT - 26,500 MT, with an average expected sell price of $10.35 per kg.

The company's 2025 sales program is progressing well, with 42% of total 2025 volumes comprising its own and external growers' crop already contracted as of 13 May 2025. The company continues to grow its customer base in China, India, Middle East and Southeast Asia, allowing for an improved sales profile and customer diversification.