• 1H FY26 Underlying EBITDA pre AASB 16 of $80.6 million, in line with AGM guidance
• FY26 Underlying EBITDA pre AASB 16 guidance reduced to $180.0-$200.0 million
• Earnings impacted by higher costs, including excess inventory, supply chain transition, and customer on-boarding

Inghams Group Limited has announced its FY26 interim (1H26) financial results. Underlying EBITDA pre AASB 16 was $80.6 million, in line with 2025 AGM guidance but down 35.0% on the prior corresponding period (PCP), and Net Profit after Tax was $18.1 million, down 64.9%. 1H26 earnings were impacted by higher costs, driven by excess inventory, supply chain transition and customer on-boarding costs. Core poultry volumes declined 0.7% versus PCP, but returned to growth in Q2 supported by new business wins. Group Net Selling Prices increased 1.4%, driven by improved wholesale pricing. New Zealand remained resilient, with stable and efficient operations and strong branded performance. The company is reducing its FY26 guidance for Underlying EBITDA pre AASB 16 to between $180.0 million and $200.0 million, citing the timing of realising operational improvements and the flat first half performance in New Zealand. Inventory levels have returned to desired levels, and production settings have normalised, supporting improved network efficiency. Initiatives are in place to restore unit cost performance through the second half, including supply chain stabilisation, enhanced planning, and targeted operational improvements.

Inghams is reducing its guidance for FY26 Underlying EBITDA pre AASB 16 to between $180.0 million and $200.0 million (previously $215.0 million to 230.0 million).

With volume growth returning and operational fundamentals improving, the Company remains well positioned for improved earnings momentum through 2H26 and into FY27.