Half Yearly Report and Accounts

• Revenue down 17% to $93.5 million
• Net profit down 61% to $5.0 million
• Automotive Leather impacted by Jaguar Land Rover cyberattack

Schaffer Corporation Limited reported its financial results for the half-year ended 31 December 2025. The company's revenue from ordinary activities decreased by 17% to $93,474,000 compared to the prior corresponding period. The consolidated net profit after tax attributable to members of the parent entity decreased by 61% to $4,981,000. The Automotive Leather division's operating results were affected by a cyberattack at Jaguar Land Rover (JLR) which resulted in a temporary production shutdown for JLR in September and October 2025. Production restarted with a ramp-up in November 2025, and Automotive Leather's sales volumes with JLR have returned to normal run-rates. The company's West Australian construction business, Delta, incurred a small loss for the period as the state government's spending on large civil infrastructure projects decreased significantly compared to recent years, creating a highly competitive market characterized by fewer available projects and lower margins. Profit from the Group Investments segment increased compared to the prior period mainly due to higher net unrealized gains on equity investments.