Nufarm Finance (NZ) Limited Analysis

Overview

Nufarm Limited is one of the world's leading crop protection and specialist seeds companies. Nufarm produces products to help farmers protect their crops against damage caused by weeds, pests and disease.

With manufacturing and marketing operations based in Australia, New Zealand, Asia, Europe and the Americas, Nufarm employs more than 3,400 people, all of whom make a vital contribution to the company's reputation for quality products, innovation and first class marketing and technical support.

Nufarm's head office is located at Laverton in Melbourne. Its preference shares, NFFHA are traded on the NZDX.

Performance

The following information was extracted from Nurfarm Finance (NZ) Limited half year results, released on 27 May 2026:

Financial highlights

Strong earnings growth and cash flow improvement

• Statutory Net Profit After Tax $38 million, up 28% on the prior corresponding period (pcp)

• Underlying NPAT (uNPAT) $52 million, up 35% on pcp

• Underlying EBITDA (uEBITDA) $243 million, up 18% on pcp

• $193 million improvement on pcp in free cash flow

• Net debt $1.23 billion, a reduction of $135 million on pcp

• Net debt to uEBITDA for twelve months to 31 March 2026 of 3.6x, a 20% reduction on pcp

• FY26 Outlook for uEBITDA and Leverage reaffirmed.

Commenting on the announcement, Nufarm CEO Rico Christensen said

“We are pleased with first half performance and are well placed to deliver strong growth in underlying earnings and a significant reduction in leverage for the full year, consistent with previous guidance. We have made clear progress on the priorities we set in November last year, delivering earnings growth, improved cash flow and a reduction in leverage. The benefit of our increased strategic focus is visible in the margin improvement in Crop Protection and significant uplift in earnings from our Seed Technologies business.”

“Our strategy refresh is focused on higher-value markets and products and capital efficiency, supporting stronger cash generation, lower capital intensity and continued deleveraging .”