Elders Limited (ELD) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much and welcome to all of those on the call for the Elders Half Year Results presentation for the FY25 year. Thank you for joining Paul and myself for the session today. As an overview, the half year results today are very strong on a half year comparative basis with a 67% uplift in EBIT on the first half last year. As flagged in the FY24 full year results in November last year, We anticipated the normalisation of the very poor first quarter from last year. This has been achieved with a corresponding improvement in the FY25 first half result from an EBITROC gearing viewpoint. We've also made good progress on our SISMOD rollout with South Australian and Tasmanian branches rolled out, with Queensland and Northern Territory branches being rolled out currently. It's planned for all states to have completed their branch rollouts by year end, in line with the plan and within budget. In addition, Project Slimline has delivered our targeted cost reductions and Project Streamline is also on track with our supply chain efficiencies benefits as shown in the numbers that we will review today. Over the first six months of FY25, we have experienced good growth across our livestock and wool agency services, our real estate services and our feed and processing services and our financial services. Our rural products category has seen some market softness with very dry conditions in South Australia, southern New South Wales and western Victoria. However, the outlook looks quite promising with weather than average conditions predicted for the second half of the winter crop and the year, and we're starting to see those rainfall patterns coming through southern Australia now or at the moment. With this in mind, the performance of Elders with its clear and consistent strat...