Synlait FY26 Shareholder Letter

• Synlait reports FY26 results, highlighting operational recovery
• Reported EBITDA of $8.1 million, underlying EBITDA of $46.3 million
• Net loss after tax of ($75.4 million), underlying net loss of ($21.6 million

Synlait Milk Ltd released its FY26 Shareholder Letter, detailing a challenging year marked by operational recovery. Despite a reported EBITDA of $8.1 million and underlying EBITDA of $46.3 million, the company reported a net loss after tax of ($75.4 million), with an underlying net loss of ($21.6 million). The company highlighted improvements in operational metrics, such as a rise in product manufactured in spec (MIS) from 88% in FY25 to 93% in FY26. The company also noted a significant improvement in the second half of the financial year, with a reported net profit after tax of $5.2 million, aided by a $26.0 million gain from the sale of North Island assets. Synlait plans to focus on maintaining operational momentum and diversifying income streams for future resilience.

Synlait plans to stabilize and simplify operations further, with a focus on scaling for success in FY27.