Synlait forecasts lower loss for FY26
- Synlait Milk expects a reported net loss after tax between NZ$70 million and NZ$75 million for FY26.
- The updated forecast shows an operational recovery following severe first-half losses.
- Management focuses on a structured recovery roadmap to reset fundamental operational challenges.
Synlait Milk (ASX:SM1) expects a reported net loss after tax of NZ$70 million to NZ$75 million for the financial year ended July 31.
The projected outcome represents a turn in trajectory after first-half performance generated an NZ$80.6 million net loss and an EBITDA loss of NZ$34.7 million.
"While our FY26 financial results will be a long way from where we want them to be, they will show improvement. This reflects that Synlait’s operations are on the right track – thanks to the hard work of our people," said Synlait Milk Acting CEO Leon Fung.
The company highlighted that underlying EBITDA is expected to land between NZ$36 million and NZ$41 million, while underlying net loss after tax is projected at NZ$19 million to NZ$24 million.
Following the announcement, the Synlait Milk share price was unchanged at $0.30.
The business previously executed a comprehensive debt restructuring in June 2026, which included a $320 million bank refinancing package and a NZ$130 million replacement loan from shareholder Bright Dairy.
To align its reporting with parent company Bright Dairy & Food Co., Synlait also approved shifting its financial balance date from July 21 to Dec. 31 following this preliminary update.
