SPC Global Surpasses FY25 EBITDA Targets, Eyes 25% Growth in FY26

FY25 Performance Highlights

SPC Global Holdings Ltd, newly formed in December 2024, has delivered a solid financial performance for the full 12-month period ending June 2025. The company reported net revenue of $376.2 million and a normalised EBITDA of $30.3 million, surpassing market guidance. This achievement is notable given the transformational nature of the year, which included merger and restructuring costs totalling $27.3 million, classified as one-off and non-recurring.

The second half of FY25 was particularly strong, contributing 75% of the annual normalised EBITDA, reflecting seasonal trends and successful operational execution. The international segment, led by the Nature One brand, accounted for 45% of the group's normalised EBITDA, underscoring the company’s growing global footprint.

Strategic Integration and Operational Shift

SPC Global has embarked on a strategic transformation from a production-led to a demand-led business model. The introduction of Integrated Business Planning and centralised procurement has enhanced operational efficiencies and working capital management. Inventory levels stood at $142.2 million, aligned with guidance and on track to reduce to $110 million by the end of 2025.

The company’s approach to integration emphasizes customer-centricity and long-term value creation rather than short-term cost-cutting. This philosophy is reflected in the expansion across five core channels, including Retail, Food Solutions & Industrial, International, On-The-Go, and Healthcare, broadening market reach and diversifying revenue streams.

Financial Position and Debt Management

SPC Global’s balance sheet shows total borrowings of $131.1 million, including a $20 million fixed-rate unsecured note issued in April 2025 with a 9% coupon. The company is in the process of transitioning its senior lender to the Commonwealth Bank of Australia, expecting annualised interest savings exceeding $3 million. Net leverage currently stands at 4.1 times, with a clear target to reduce this below 4 times in FY26 through disciplined working capital and debt management.

Growth Outlook and Mid-Term Strategy

Looking ahead, SPC Global is targeting a 25% increase in normalised EBITDA for FY26, building on the momentum established in FY25. The company expects to deliver an additional $6 million in synergies on top of the $6.2 million annualised benefits realised in FY25. Its mid-term plan (2026-2030) focuses on expanding premium and health-focused product offerings, growing international markets, and driving operational excellence through technology and supply chain innovation.

Brands such as Nature One and Original Beverage Co. are central to the company’s international growth strategy, with recent supply agreements in Asia-Pacific markets including China, Vietnam, and South Korea. The company also aims to deepen its presence in emerging channels like e-commerce and healthcare, leveraging exclusive partnerships and product innovation.

Sustainability and Corporate Responsibility

SPC Global emphasizes responsible corporate citizenship, with commitments to fiscal discipline, environmental health and safety, and strong governance. The company’s values-driven culture supports its ambition to reimagine nourishment and wellness globally, aligning with consumer trends towards better-for-you and premium products.