Seeka Limited has reported its audited full-year results for the year ended 31 December 2025, recording higher profitability and a reduction in net debt.
Operating revenue for FY25 was $440 million, up 7% from $411 million in FY24. EBITDA increased 26% to $96 million, while net profit before tax rose 60% to $48 million. Net profit after tax reached $32 million, compared with $8.8 million reported in FY24 and a normalised FY24 result of $21.2 million. The prior year was affected by a one-off $12.5 million tax expense following the removal of tax deductibility on non-residential buildings. On a normalised basis, earnings per share increased 49% to 76 cents, compared with 51 cents in FY24.
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During FY25, Seeka paid dividends of 30 cents per share and declared a further fully imputed dividend of 25 cents per share, payable on 15 April 2026 to shareholders registered on 20 March 2026. The dividend reinvestment plan will apply.
Chief Executive Michael Franks said the company's strategy and operational performance contributed to higher earnings across business units and improved balance sheet metrics.
The kiwifruit season in New Zealand produced 47.1 million trays. Fruit quality supported packhouse throughput and export volumes. The SeekaFresh and Seeka Australia divisions also recorded higher earnings, supported by increased volumes and expansion into additional categories. Investment in automation and cost management contributed to the lift in EBITDA.
Capital expenditure during the year focused on infrastructure and capacity. Maintenance programmes were undertaken on plantrooms and switchboards, and additional plant capacity was commissioned at Huka Pak, Orangewood, and Kerikeri. Leased coolstore capacity was increased at Pioneer to manage seasonal volumes.
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Net bank debt reduced to $100.3 million at 31 December 2025, down $37.0 million from the previous year and below the $172.4 million recorded at the end of 2023. Net tangible assets per share increased 11% to $6.31.
While formal guidance for 2026 has not yet been issued, the company indicated it is entering the new financial year with reduced debt and expanded operational capacity.
To view the full report, click here.
For more information:
Michael Franks
Seeka
Tel: +64 21 356 516
www.seeka.co.nz
Nicola Neilson
+64 21 841 606
