• Global Product revenue grew 12.3% (11.4% in constant currency)
• EBIT grew 10.2% at the top end of guidance
• Dividend increased to 37.0 cents per share (100% franked)

Breville Group Limited (BRG) has reported a solid set of results for the year ended 30 June 2025, with double-digit growth across all key metrics. Group revenue grew 10.9% to $1,696.6 million, driven by a 12.3% increase in Global Product revenue (11.4% in constant currency). The company's Coffee segment was the standout performer, leading the growth across the portfolio. Cooking also returned to growth, while Food Preparation stabilised. Gross profit increased 11.4% to $620.5 million, with gross margin holding steady at 36.6%. EBIT grew 10.2% to $204.6 million, at the top end of guidance, as operating expense growth was aligned to the increase in gross profit. NPAT rose 14.6% to $135.9 million, boosted by lower finance costs. The company continued to invest in growth initiatives, including new product development, geographic expansion, and digital platforms. BRG entered the Middle East and China markets directly, both of which have performed well post-launch. The company's manufacturing diversification program also progressed, with new locations in Mexico and Southeast Asia complementing its China operations. Looking ahead, the company expects FY26 to be a dynamic year for the Americas segment due to input cost inflation and evolving US tariff policy, though the strong balance sheet and unleveraged position provide flexibility to manage these challenges.

Based on the current fact set, the Group will face a significant input cost increase in FY26 and FY27 for US-based sales. The company is actively pursuing cost mitigants including FOB reductions, diversified sourcing locations, distribution channel adjustments and taking price where appropriate.

The outlook for a majority of the Group's markets resembles recent years, with macro headwinds playing against company specific tailwinds, including new product launches, fast growing new geographies and solution plays, all supported by increased investment for long-term growth. The turbulence represented by the evolving US tariff landscape is contained to one of our markets, albeit our largest single country.