Operating revenue was up 7 per cent to NZ$440mn with net profit before tax increasing 60 per cent to NZ$48mn
Seeka has released its audited full year results for the year ended 31 December 2025 (FY25), delivering record profitability, improved financial resilience and strong returns to shareholders.
In FY25 Seeka recorded an operating revenue of NZ$440mn, up 7 per cent on the previous year’s NZ$411mn. EBITDA rose 26 per cent to NZ$96mn, while net profit before tax increased 60 per cent to NZ$48mn.
Net profit after tax was NZ$32mn, compared with FY24’s reported NZ$8.8mn and normalised NZ$21.2mn result, the prior year having been impacted by a one-off NZ$12.5mn tax expense following the New Zealand government’s removal of tax deductibility on non-residential buildings. On a normalised basis, earnings per share increased 49 per cent 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,” Franks said. “From a focused strategy, and the efforts of many, we achieved record profitability and rebuilt financial resilience into the balance sheet.”
The performance was underpinned by an excellent kiwifruit growing season in New Zealand, which delivered a record 47.1mn 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 per cent 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 NZ$100.3mn at 31 December 2025, down NZ$37mn on the prior year and substantially lower than the NZ$172.4mn recorded at the end of 2023. Net tangible assets per share increased 11 per cent to NZ$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, 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.
