• Macro-economics for almonds continue to strengthen and support strong pricing
• The Company continues to deliver excellent results across its PMO initiatives
• Significant increase in profit (NPAT increased by $30.9m)

Select Harvests Ltd reported strong FY2025 financial results, with a significant increase in profit (NPAT increased by $30.9m), improved operational efficiency, and a strengthened balance sheet. The company continues to benefit from favorable almond market conditions, with macro-economics for almonds continuing to strengthen and support strong pricing. The company delivered excellent results across its PMO initiatives, including improvements in safety and culture, horticultural practices and yields, processing performance, sales strategy, operational costs, and supply chain efficiency. Financially, the company saw a 35.4% increase in revenue, an 81.5% increase in EBITDA, and a 246.5% increase in EBIT. Net debt was reduced by 51% to $79.1m, and the company's banking facilities were refinanced with improved terms. The company's core assets, including land and processing facilities, are well above book value. Looking ahead, the company is focused on further improving horticulture practices, expanding processing capacity and efficiency, and driving sales and marketing initiatives to maximize value from its almond crops.

The company expects to maintain its strong financial performance, with a 2025 almond crop of 24,903MT at an average price of $10.18/kg, and continued operational improvements driving cost efficiencies.

Select Harvests is well-positioned to benefit from favorable almond market conditions, with a focus on driving further improvements in horticulture, processing, and sales to maximize value from its almond crops. The company is pursuing strategic growth initiatives to strengthen its position as a leader in the almond industry.