Latest Synlait Milk (Asx:Sm1) News

Synlait Milk Limited has temporarily expanded its banking facilities by NZ$50 million to manage ongoing cost impacts from earlier manufacturing challenges, while preparing to reduce debt through a major asset sale.

Abbott has received Overseas Investment Office approval to acquire Synlait Milk’s North Island manufacturing and warehouse facilities in a US$178 million deal, pending shareholder consent.

Synlait Milk Limited reports a modest profit turnaround in FY25 and announces a major sale of its North Island assets to Abbott, aiming to reduce debt and sharpen its focus on core operations.

Synlait has agreed to sell its North Island assets to global healthcare giant Abbott for approximately US$178 million, marking a strategic reset focused on debt reduction and operational simplification. The deal, expected to close by April 2026, positions Synlait to concentrate on its South Island operations and explore new growth avenues.

Synlait Milk Limited reported an 11.7% rise in revenue to NZD 1.83 billion for the year ending July 2025, yet its net loss deepened sharply to nearly NZD 40 million, prompting a halt on dividends.

Synlait Milk Limited has completed a $350 million refinancing package with a strong banking syndicate, featuring amended financial covenants for FY26 and maintaining key shareholder support.

Synlait Milk Limited reports a significant financial turnaround for FY25 with expected underlying EBITDA doubling from the prior year, while overcoming manufacturing setbacks at its Dunsandel facility.

Synlait Milk Limited projects a return to profitability in HY25 with EBITDA guidance between $58 million and $63 million, underpinned by strategic growth and cost control. The company also enhances its financial incentives to secure South Island milk supply for the next three seasons.