2025 AGM Chair's Address
| Stock | Gale Pacific Ltd (GAP.ASX) |
|---|---|
| Release Time | 28 Nov 2025, 8:24 a.m. |
| Price Sensitive | Yes |
Gale Pacific Chair's Address Outlines Challenges, Restructuring
- FY25 financial results did not meet expectations
- Americas region underperformed due to US tariffs on China-produced products
- Implemented restructuring to restore competitiveness and protect margins
Gale Pacific Ltd (ASX: GAP) held its 2025 Annual General Meeting, with the Chair's Address providing an overview of the company's performance and outlook. FY25 was a challenging year for Gale Pacific, with the financial results not meeting expectations. Reported EBITDA was $12.0 million, while on a normalised basis, excluding non-recurring costs, EBITDA was $19.5 million, broadly consistent with the prior year. Regionally, the Australia/New Zealand and Developing Markets delivered in line with expectations, maintaining stable revenue and margin performance. However, the Americas Region significantly underperformed. Mid-year announcements from the US Administration on new international tariff arrangements, followed by the imposition of substantial tariffs on China-produced products, disrupted peak northern summer trading, resulting in a 25 percent decline in second-half revenue and a $5.3 million reduction in regional EBITDA. The Board and management team have acted decisively to address these headwinds, restructuring the US operations and implementing a lower-cost operating model to restore competitiveness and protect margins. The company is also advancing supply chain diversification to reduce reliance on China-produced products and mitigate tariff exposure. Looking ahead, the CEO will outline immediate actions taken to stabilise performance, longer-term plans to restore profitability and growth, and provide an update on FY26 trading and strategic priorities.
The company anticipates that trading conditions will remain challenging in the near term, with elevated input costs expected to be passed through to shelf pricing, which will likely further constrain consumer demand. The Board and management team remain focused on disciplined cost management, supply chain resilience, and positioning Gale Pacific for renewed growth in its core markets.