Synlait Milk Limited

Overview

About Synlait

At Synlait we combine expert and sustainable farming practices with state-of-the-art manufacturing processes to produce a range of nutritional milk products that provide genuine benefits for human health and wellbeing.

Our purpose Doing Milk Differently For A Healthier World is driven by being different, essential nutrition and sustainability. Our disruptive, innovative spirit combined with resolute determination to do the right thing for planet and people sets us apart from the competition.

Founded in 2000, Synlait is based in Dunsandel, Canterbury and employ nearly 900 people.

Synlait listed on the NZX in July 2013. This was followed by a compliance listing on the ASX in November 2016. In 2019, Synlait joined the NZX Debt Market, issuing NZ$180 million of unsecured, subordinated, fixed rate bonds.

Our locations

Today we have sites in the South Island of New Zealand and an office in Shanghai, China:

• Christchurch: administration office and Dairyworks
• Dunsandel: fully integrated manufacturing facility and administration office
• Shanghai: sales office

Our products

We produce a range of added-value milk powders and nutritional products, such as retail-ready infant formula. Our customers are leading global health and nutrition companies, with established brands and strong retail distribution channels.

In early April 2019 we began manufacturing fresh milk and cream in our newly commissioned Advanced Liquid Dairy Packaging Facility at Dunsandel.

Dairyworks joined the Synlait family in April 2020 supplying iconic and much-loved New Zealand brands to the consumer and foodservice markets. Synlait also owns and operates two commercial farms which are located next to the Dunsandel factory.

Our farmer suppliers

Our 200 farmer suppliers are a key part of Synlait.

Because the company was an early leader in sustainability, it has attracted forward-thinking farmers who share a commitment to best practice dairy farming.

Synlait was the first New Zealand processor to financially incentivise farmers to reach best practice in caring for their environment, animals, milk quality and people. The company manages this through its own internationally accredited programme, Lead With Pride. 90% of its farmer suppliers are Lead With Pride Certified.

For more information about Synlait, visit: www.synlait.com

Performance

The following information was extracted from Synlait Milk Limited's annual report, released on 28 September 2026:

Key financials

• Reported EBITDA of $8.1 million, with underlying EBITDA of $46.3 million.
• A reported net loss after tax of ($75.4 million), with an underlying net loss after tax of ($21.6 million).
• Net debt of $215.0 million.
• Revenue of $1.94 billion.
• Gross profit of $37.7 million.

The result reflects a difficult first half, followed by a second half in which a return to operational stability flowed through to improved financial performance.

• Reported EBITDA rose from a loss of ($34.7 million) in the first half to $42.8 million in the second.
• Reported NPAT lifted from a first half net loss after tax of ($80.6 million) to a $5.2 million net profit after tax in the second half.