Earnings call transcript: Skellerup posts record FY 2026 as shares edge higher
Skellerup Holdings reported record full-year profits and revenue in FY 2026, driven by growth across its industrial and agricultural businesses and improved margins. The New Zealand company posted NZD 289.4 million in revenue, a 10% increase from the previous year, alongside normalized EBIT rising 14% to NZD 89.3 million and normalized NPAT soaring 18% to NZD 64.2 million.
Shares climbed 0.4% to $7.23, near the top of their $4.64-$7.38 52-week range. Industrial division sales grew 9%, while agri business saw a 13% rise. The company's strong performance has been consistent, with seven years of 7% compound annual revenue growth and 11% normalized EBIT growth. Skellerup's growth is broad-based, with strong demand in North America, New Zealand, Australia, and parts of Europe and Asia, particularly in dairy consumables, potable water, wastewater, and roofing.
The company's financial health is reflected in a current ratio of 1.64 and a debt-to-equity ratio of just 0.02. Skellerup appears undervalued, with InvestingPro suggesting potential upside. Management remains confident in the company's long-term strategy, with recent expansions in China and Europe and a focus on developing differentiated products.
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