Seeka Limited Delivers Record FY25 Profit, Strengthens Balance Sheet And Increases Shareholder Returns

Seeka Limited, the NZX-listed produce handler operating across New Zealand and Australia, today announces its audited full year results for the year ended 31 December 2025 (FY25), delivering record profitability, improved financial resilience and strong returns to shareholders.

Financial Highlights (FY25)

• $440 million operating revenue - up 7% on FY24's $411 million

• $96 million EBITDA - up 26% on FY24's $76 million

• $48 million net profit before tax - up 60% on FY24's $30 million

• $32 million net profit after tax - up 50% on normalised FY24

• 76 cents earnings per share - up 49% on normalised FY24's 51 cents earnings per share • 30 cents per share of dividends paid in FY25

• 25 cents per share dividend to be paid 15 April 2026

• $100m net bank debt - down $37m on 31 December 2024

Seeka Limited recorded operating revenue of $440 million for FY25, up 7% on the previous year’s $411 million. EBITDA rose 26% to $96 million, while net profit before tax increased 60% to $48 million.

Net profit after tax was $32 million, compared with FY24’s reported $8.8 million and normalised $21.2 million result, the prior year having been impacted by a one-off $12.5 million tax expense following the Government’s removal of tax deductibility on non-residential buildings. On a normalised basis, earnings per share increased 49% to 76 cents.

The result marks the strongest performance in Seeka’s history and reflects disciplined execution of its focused strategy across all business units.

Chief Executive Michael Franks said the company’s strategy, combined with strong operational delivery, had lifted earnings across the group while continuing to deliver high-quality service to growers and customers.

“Seeka was pleased with the results. From a focused strategy, and the efforts of many, we achieved record profitability and rebuilt financial resilience into the balance sheet,” Mr Franks said.

The performance was underpinned by an excellent kiwifruit growing season in New Zealand, which delivered a record 47.1 million trays. Fruit quality from both growers and Seeka’s own orcharding

operations was strong, supporting operational efficiencies and delivering high-quality product to global markets.

SeekaFresh and Seeka Australia also recorded improved earnings, benefiting from stronger volumes and growth in new categories. Continued investment in automation, innovation and cost control initiatives contributed to the 26% lift in EBITDA.

During the year, Seeka continued targeted investment in core infrastructure to support long-term resilience and capacity. A structured maintenance programme focused on plantrooms and switchboards reduced operational risk, while new plant capacity was commissioned at Seeka Huka Pak, Seeka Orangewood and Seeka Kerikeri. Leased coolstore capacity was increased at Pioneer to support seasonal throughput.

The company also made significant progress in strengthening its balance sheet. Net bank debt reduced to $100.3 million at 31 December 2025, down $37.0 million on the prior year and substantially lower than the $172.4 million recorded at the end of 2023. Net tangible assets per share increased 11% to $6.31.

Reflecting the improved financial position and earnings performance, Seeka paid 30 cents per share in dividends during FY25 and has declared a further fully imputed dividend of 25 cents per share, to be paid on 15 April 2026 to shareholders on the register at 20 March 2026. The dividend reinvestment plan will apply.

While formal guidance for 2026 has not yet been provided, Mr Franks said the company enters the new financial year in a strong position.

“While it is too early to reliably indicate 2026, the company enters the year in great shape and ready for the year ahead,” he said.

The FY25 result demonstrates Seeka’s ability to deliver operational excellence through the cycle, supporting growers from orchard to market while generating sustainable returns for shareholders.

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