Preliminary Final Report
Released
Released
Announcement PDF
Appendix 4E
Preliminary Final Report
Ricegrowers Limited (ASX – SGLLV)
ABN:
55 007 481 156
Financial Year Ended:
30 April 2026
Lodgment Date:
25 June 2026
This financial report does not include all of the notes of the type normally included in the full year
statutory accounts. Accordingly, it is recommended that this report be read in conjunction with the
Annual Report for the year ended 30 April 2026 and any public announcements made by
Ricegrowers Limited (“SunRice” or ‘Group”) during the year ended 30 April 2026 and up to the
date of this report, in accordance with the continuous disclosure requirements of the Listing Rules
of the Australian Securities Exchange (ASX).
Reporting Period and Reported Information
The current reporting period is the year ended 30 April 2026 (FY26 or CY25) and the previous
corresponding period is the year ended 30 April 2025 (FY25 or CY24). The information in this report is
based on accounts which have been audited.
Results for Announcement to the Market
Consolidated Group 2026
$’000
2025
$’000
Change
$’000
Change
%
Up/Down
Revenue from ordinary activities 1,804,563 1,850,630 (46,067) 2.5 Down
Profit after tax 73,290 70,719 2,571 3.6 Up
Profit after tax attributable to B Class
shareholders
70,731 68,411 2,320 3.4 Up
Dividends
Current
period
Previous
corresponding
period
Franking rate applicable: 100% 100%
Final dividend (declared in June)
Amount per security 50.0 cents 50.0 cents
Franked amount per security 50.0 cents 50.0 cents
Interim dividend (declared in December)
Amount per security 20.0 cents 15.0 cents
Franked amount per security 20.0 cents 15.0 cents
Date the final dividend is payable: 20 July 2026
Record date to determine entitlements to the final dividend 1 July 2026
Has the final dividend been declared? Yes
The dividend or distribution plans shown below are in operation.
Ricegrowers Limited Dividend Reinvestment Plan (DRP).
Net Tangible Asset Backing (NTA) and Earnings per B Class Share (EPS)
Current
period
Previous
corresponding
period
Net tangible asset backing per B Class Share ($) 8.14 8.20
Basic earnings per B Class Share (cents) 102.8 102.9
Diluted earnings per B Class Share (cents) 102.6 101.9
Commentary on results for the period:
Group revenue for FY26 was $1.80 billion (FY25: $1.85 billion), and Earnings Before Interest, Tax,
Depreciation, Amortisation and Impairment (EBITDA) was $143.6 million (FY25: $147.7 million). Despite
these pressures, the Group’s EBITDA margin was maintained at 8% year-on-year as we continued to
pursue strategic growth initiatives, and Net Profit After Tax (NPAT) increased to $73.3 million (FY25:
$70.7 million), reflecting a more favourable geographic earnings mix across the Group.
Growth in some branded markets offset by external factors in other areas:
A combination of strategic growth initiatives and market factors supported revenue growth in some of
the Group’s core branded markets in FY26, including in North America, Papua New Guinea (PNG) and
parts of Australia and New Zealand (ANZ). When combined with additional revenue growth in Bulk Rice
and Animal Feed, these areas grew by ~$65 million compared with FY25.
These revenue gains were offset by external structural changes in other Pacific markets, where the
Group is rebasing parts of the business to improve profitability, and delays in Middle East trades due to
conflict-related supply chain disruption. Lower wholegrain mill out rates for the CY25 crop and the
need to preserve Australian paddy in light of a drier CY26 season also constrained product availability
for lower value tenders, and evolving consumer spending behaviour impacted certain product
categories in ANZ. Combined, these factors negatively impacted revenue by ~$75 million year-on-
year. The appreciation of the Australian dollar (AUD) against the PNG Kina (PGK) during FY26 and the
United States dollar (USD) towards year end also impacted the Group’s translated earnings, further
lowering revenue by ~$35 million compared with FY25.
Resilient margins while investing for growth:
While EBITDA declined slightly year-on-year in line with revenue, EBITDA margin was maintained at
8%, reflecting the Group’s continued focus on profitable growth, disciplined execution and cost control.
Lower input costs, particularly for United States (US) sourced rice, together with a more favourable
business mix, further supported margin outcomes in FY26. NPAT also increased, supported by a
change in the Group’s geographic earnings mix, which resulted in a lower effective tax rate. These
results were delivered despite ongoing headwinds, including foreign exchange pressures on input
costs for most of the year and increased competitive intensity, which required targeted pricing
responses to maintain demand in some markets. Any benefits from the recent appreciation of the AUD
are expected to be realised in FY27.
Some up-front costs associated with executing our 2030 Growth Strategy were also incurred in FY26,
including increased spend on brand building and talent. While this investment weighed on profitability
in FY26, especially in ANZ, it supported the Group in advancing strategic initiatives aimed at
positioning the business for future growth
Details of associates and joint venture entities
The SunRice Group has the following associates:
Name of associate
Rice Breeding Australia Limited (incorporated in Australia). Principal activity: Research into the delivery
of new and improved rice varieties
Reporting entities percentage holding
Rice Breeding Australia Limited: 33.33% (30 April 2025: 33.33%)
During the year, the Group disposed of its 30.44% interest in Pagini Transport (30 April 2025: 30.44%)
Controlled entities
During the year Ricegrowers Limited acquired 100 per cent of the share capital in Ricegrowers
Uruguay S.A. During the year, the Group also established the SavourLife Foundation, with SavourLife IP
Pty Ltd acting as trustee, to support animal welfare initiatives.
There have been no other changes in controlled entities in the twelve-month period to 30 April 2026.
Other information required
Please refer to the attached 2026 Annual Report including the full year statutory accounts for the year
ended 30 April 2026 for other information required.
About SunRice’s structure
The structure of Ricegrowers Limited (SunRice) contains non-standard elements including its dual
class share structure comprising A Class Shares and B Class Shares.
A Class Shares confer on their holders the right to vote at general meetings but no right to dividends. A
Class Shares are not quoted on the ASX and may only be held by rice growers who meet the
production quotas prescribed by the SunRice Constitution. No person may hold more than five A Class
Shares. In practical terms the voting rights held by A Class shareholders give those shareholders the
right to control the election of directors and any changes to SunRice’s Constitution.
B Class Shares are quoted on the ASX and confer on their holders the right to receive dividends, as
determined by the directors from time to time. Holders of B Class Shares do not generally have the
right to vote at general meetings of SunRice. This means that B Class shareholders have no right to
vote on the election of directors of SunRice. No person may hold more than 10% of the total number of
B Class Shares on issue.
For more details of the non-standard elements of SunRice’s structure see investors.sunrice.com.au
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