• Strong livestock performance and Delta Ag contributions drive earnings upside
• Three acquisitions completed, including Delta Ag
• ROC and leverage expected to improve in the second half
• Solid progress on Fourth Eight Point Plan
• Significant headroom in banking covenants

Elders Limited has released its half-year results for the six months ended March 31, 2026. The company reported solid progress on its strategic initiatives, with notable contributions from livestock performance and the Delta Ag acquisition. Key highlights include a 33% increase in underlying EBIT, a 27% increase in gross margin, and a 17% increase in reported net profit after tax. The company also noted a 10.7% return on capital and a 3.8 times leverage ratio. The presentation outlined the company's strategic diversification, robust capital management framework, and modernized systems as key drivers of future growth. The company expects further improvement in financial ratios in the second half, driven by full-year Delta Ag earnings and the receipt of Killara sale proceeds.

ROC and leverage expected to improve in the second half with full-year Delta Ag earnings

The company expects further improvement in financial ratios in the second half, driven by full-year Delta Ag earnings and the receipt of Killara sale proceeds.