• Reported NPAT of $31.8 million, up $30.9 million from FY2024
• EBITDA of $82.4 million, up 81% from FY2024
• Net debt reduced by 51% to $79.1 million

Select Harvests Ltd reported Net Profit After Tax (NPAT) of $31.8 million for FY2025, a $30.9 million increase from FY2024. EBITDA was $82.4 million, up 81% from the prior year. The company achieved a meaningful reduction in net debt, which now stands at $79.1 million with a net debt to equity ratio of 15.1%. The almond crop for FY2025 was 24,903MT, down 16% from the previous year, while the external grower crop was 7,329MT, down 30%. However, the company achieved a 32% increase in the average almond price to A$10.18/kg. Operating cashflow increased significantly to $118.6 million, up $109.1 million from FY2024. The company's strategic initiatives, including a focus on horticulture, processing efficiency, and maximizing returns from the crop, have delivered these strong business outcomes. The company continues to face challenges such as the availability of bees for pollination and the impact of wet seasons in New South Wales. Looking ahead, the company remains positive on the macro environment for almonds, with continued growth in global demand and constraints on supply from the US. The company's 2026 crop program is well underway, but the company is not forecasting a specific crop size at this time.

The company is not providing specific financial guidance for FY2026. However, it notes that it is seeing some increasing costs across key input prices, such as water, bees, and fertilizer, and is working to mitigate these increases.

The company remains positive on the macro environment for almonds, with continued growth in global demand and constraints on supply from the US. The company's focus remains on growing, processing, and selling as efficiently as possible to leverage the favorable market conditions.