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Synlait Milk (SML) briefings

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Showing 1-8 of 8 published briefings.

Synlait Milk (SML)HY26Released 23 March 2026

EBITDA margin hit an unprecedented -4.5% with FCF at -NZ$195.0m

Continuing-operations EBITDA swung to a NZ$34.7m loss while Synlait disposed of North Island assets and withdrew FY26 guidance.

Published 23 April 2026

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Synlait Milk (SML)HY25Released 24 March 2025

Synlait swung to $7.5m PBT on 40.4% revenue jump and deleveraging to 6.2x

Operating cash flow stayed negative at -$12.0m and a tax credit lifted reported NPAT, leaving the durability of the turnaround as the open question.

Published 23 April 2026

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Synlait Milk (SML)HY24Released 2 April 2024

Net debt/EBITDA hit 28.1x as $514m of debt falls due within 12 months

EBITDA margin collapsed to an unprecedented 3.0% on a 15.2% revenue decline, leaving the balance sheet under acute refinancing pressure.

Published 23 April 2026

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Synlait Milk (SML)FY23Released 25 September 2023

Cash conversion fell to 43% and net debt/EBITDA jumped to 4.6x

Continuing operations swung to a $14.1m loss as a Dairyworks discontinued-operation gain partly cushioned reported NPAT.

Published 23 April 2026

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Synlait Milk (SML)HY23Released 27 March 2023

Working capital absorbed NZ$132.2m, flipping OCF to a NZ$124.7m outflow

FY23 NPAT guidance cut to a NZ$(5)m–NZ$5m range as inventory build pushes net debt/EBITDA to 10.04x and Advanced Nutrition demand softens.

Published 23 April 2026

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Synlait Milk (SML)HY22Released 1 April 2022

Inventory release of NZ$70.8m powered Synlait's cash flow recovery

EBITDA rose 43.4% to NZ$68.4m but the unprecedented NZ$117.3m operating cash flow leans on a working-capital release that may not repeat.

Published 23 April 2026

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Synlait Milk (SML)FY21Released 27 September 2021

Synlait swung to a $28.5m NPAT loss after a2 Milk volume reset

Revenue rose 5.0% but H2 EBITDA turned negative and operating cash flow fell 85%, leaving net debt at 12.8x EBITDA.

Published 23 April 2026

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Synlait Milk (SML)HY21Released 29 March 2021

Revenue +18.8% on Dairyworks but PBT -77.0% as infant formula slid 16%

Headline growth reflects the Dairyworks acquisition while infant formula volumes fell 16% and inventory days reached 111.4, above the historical

Published 23 April 2026

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