Highlights

  • Ridley Corporation (ASX:RIC) reported FY26 revenue of A$2,864.2 million, up 119.9%.
  • EBITDA before significant items rose 61.9% to A$157.8 million, led by the new Fertilisers segment.
  • The final dividend is 5.35 cents per share, fully franked, taking the full-year total to 10.45 cents.
  • Operating cash flow increased to A$122.4 million from A$68.3 million in the prior corresponding period.

Ridley Corporation Limited manufactures and distributes animal nutrition products for the poultry, pig, dairy, aquaculture, beef, sheep and companion animal sectors, and now also distributes fertilisers. The company reported its first full-year results with the fertilisers business in August 2026, and its final dividend had a payment date of 22 October.

Company Business

Ridley operates in Australia and New Zealand and exports to Thailand and Singapore. Its products serve the poultry, pig, dairy, aqua, beef and sheep, companion animal, packaged consumer goods and ingredients recovery sectors, and it now distributes fertilisers following the acquisition of the Incitec Pivot Fertilisers distribution business.

For Ridley Corporation (ASX:RIC), results are now reported across three segments. Bulk Stockfeeds covers feed sold in bulk to livestock producers. Packaged Feeds and Ingredients covers packaged products and ingredients, including rendering at Maroota. Fertilisers is the newest segment and contributed nine months of earnings in FY26.

Recent Development

In August 2026, the company released results for the year ended 30 June 2026. Management said a regional distribution model, introduced in February 2026, had delivered cost savings as the fertilisers business was integrated. Committed bank facilities were increased by A$200 million to A$350 million, and a new A$390 million inventory and receivables facility was established.

In May 2026 the company signed a Fertiliser Security Facility Agreement with an Australian Government body. Contracts for difference with a favourable value of A$53.6 million at 30 June 2026 are treated as a government grant offsetting inventory and are due to be recognised in FY27 cost of sales.

Ridley Corporation (ASX:RIC) declared a final dividend of 5.35 cents per share, fully franked, with a record date of 7 October 2026 and a payment date of 22 October 2026. The interim dividend was 5.10 cents per share, so the full-year dividend totalled 10.45 cents per share compared with 9.75 cents in the prior corresponding period. The company targets a payout of 50% to 70% of NPAT.

Financial Performance and Sector Context

FY26 revenue was A$2,864.2 million, up from A$1,302.6 million. EBITDA before individually significant items was A$157.8 million, an increase of A$60.3 million, while EBITDA after those items was A$116.8 million, up 19.4%. NPAT before significant items rose 41.1% to A$61.0 million, and earnings per share before those items were 16.3 cents. Statutory NPAT was A$27.6 million, down 36.4%, reflecting a A$28.7 million after-tax impairment of NovaqPro and a net A$4.8 million cost related to the fertilisers acquisition.

By segment, Fertilisers recorded EBITDA before significant items of A$72.2 million on revenue of A$1,552.9 million. Bulk Stockfeeds earned A$50.3 million, up from A$47.8 million, with monogastric volumes up 7.0% and ruminant volumes up 4.1%. Packaged Feeds and Ingredients earned A$51.6 million, down A$11.4 million, although packaged volumes rose 12.3%. Operating cash flow was A$122.4 million, and capital expenditure included A$43.6 million of maintenance spending.

The company said global fertiliser prices rose amid the Middle East conflict, which lifted margins but was followed by lower volumes as higher prices affected farm economics. Packaged Feeds and Ingredients was affected by capacity constraints at Maroota, commissioning delays at OMP Timaru and lower ovine supply.

Risks to Consider

Ridley Corporation (ASX:RIC) identifies cyclical demand and swings in input and end-product prices as ongoing risks, along with disease outbreaks and customer and supplier concentration. Integration of the fertilisers business, including systems, personnel and customer relationships, remains a delivery item. Other exposures include delays in commercialising NovaqPro, fertiliser supply arrangements, movements in the US dollar, New Zealand dollar and Thai baht, cyber threats, regulation, interest rates and climate-related factors.

What to Watch Next

The company lists its annual general meeting for 18 November 2026, subject to confirmation. Beyond that, the FY27 outlook anticipates earnings growth in each segment: a full-year contribution and integration benefits in Fertilisers, volume growth and better capacity use in Bulk Stockfeeds, and operational recovery with an improved commodity outlook in Packaged Feeds and Ingredients. Performance at Maroota and OMP Timaru is a further operating item. The company's financial calendar lists no 2027 dates yet.

Key Insights

Ridley Corporation (ASX:RIC) has changed in scale and mix over the past year, with revenue more than doubling after the fertilisers acquisition while animal nutrition volumes grew. Adjusted earnings and operating cash flow increased, while statutory profit was reduced by impairment and acquisition-related items. Monitoring points include fertiliser volumes and prices, plant performance, integration progress and the AGM.