Half Year 2026 Elders Ltd Earnings Call Transcript
Key Points
- Elders Ltd (ASX:ELD) reported a 33% increase in EBIT, showcasing strong financial performance.
- The company demonstrated solid operational resilience despite mixed seasonal conditions, supported by a diversified portfolio.
- Successful integration of Delta Agribusiness is on track, with synergy targets expected to be realized in the second half of FY26.
- Elders Ltd (ASX:ELD) maintained strong cash conversion and positive progress on leverage and return on capital.
- The outlook for Australian agriculture remains positive, with strong international demand for livestock and a favorable commodity backdrop.
- Supply chain disruptions in fertilizer, fuel, and crop protection due to geopolitical conflicts posed challenges.
- Increased competition in the retail business, particularly in crop protection, has led to margin pressures.
- Corporate overheads increased significantly, raising concerns about cost management.
- Livestock volumes, particularly in cattle and sheep, showed signs of market share loss.
- The ongoing SysMod project has resulted in higher transformation costs, impacting short-term financials.
Thank you for standing by, and welcome to the Elders Limited half-year '26 investor conference. (Operator Instructions)
I would now like to hand the conference over to Mr. Mark Allison, CEO and Managing Director. Please go ahead.
Thank you, and welcome to all to the Elders half-year results presentation for the FY26 financial year. Thank you for joining Paul and myself for the session today.
As an overview, the half-year results today are solid on a year-to-year basis with EBIT up 33%, strong cash conversion, transformation and integration projects on track, and positive progress on leverage on ROC as we move to the end of the year.
Throughout the half year, Elders demonstrated solid operational and financial resilience in the face of improved, although mixed, seasonal conditions. Our diversified portfolio through its national geographical footprint and multi-product and service offering played a key role in mitigating the dry conditions across
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