GrainCorp H1 profit jumps 17% on strong east coast grain volumes

AUSTRALIA – Australian agribusiness and processing giant GrainCorp has reported a net profit after tax of A$58.1 million (US$37.2 million) for the first half of its 2025 fiscal year, up 17% from A$49.6 million (US$31.7 million) in the same period of 2024.

This growth was driven by strong grain volumes on Australia’s east coast, which helped offset tighter margins in global markets, according to the company’s May 15 financial report.

Revenue for the six months ending March 31 jumped 21% to A$4.09 billion (US$2.61 billion), compared to A$3.38 billion (US$2.16 billion) a year ago.

Underlying EBITDA rose to A$202 million (US$129 million), up from A$164 million (US$107 million), as the company capitalized on a robust harvest season, particularly in Queensland and Northern New South Wales, despite weaker conditions in Victoria and Southern NSW.

“GrainCorp delivered a solid half-year result, capitalizing on a large east coast harvest against the backdrop of a competitive global margin environment,” said CEO Robert Spurway.

Strong agribusiness performance

The Agribusiness segment, which encompasses GrainCorp’s integrated grain and oilseed supply chain, recorded profit before income tax of A$69.7 million (US$44.6 million), more than doubling from A$33.2 million (US$21.2 million) in the prior year.

Segment revenue soared to A$3.4 billion (US$2.17 billion), up from A$2.66 billion (US$1.7 billion), bolstered by increased grain production and throughput.

During the first half, 12.2 million tonnes of grain were received into the network, a significant rise from 8.8 million tonnes in 2024. Total grain handled reached 29.5 million tonnes, up from 25.4 million.

Exports of commodities such as chickpeas and canola seed provided added momentum, while the international business posted higher sales volumes on the back of strong Western Australia output.

However, intense competition from Northern Hemisphere production squeezed export margins, and GrainsConnect Canada continued to face tough conditions due to global pricing pressures.

Mixed results in nutrition and energy

GrainCorp’s Nutrition and Energy segment, centered on vertically integrated oilseed crushing, reported pre-tax profit of A$47.5 million (US$30.4 million) on revenue of A$1 billion (US$640 million), down from A$52 million (US$33.3 million) profit on A$956.8 million (US$613 million) revenue in 2024.

The business achieved record canola crush volumes, with edible oil production at 283,000 tonnes, slightly above the 282,000 tonnes recorded last year.

Despite increased edible oil sales, lower domestic canola seed supply and weak global vegetable oil demand led to compressed crush margins.

In Animal Nutrition, sales volumes climbed to 370,000 tonnes, up from 218,000 tonnes last year. The surge was attributed to the strong performance of XFA, the feed supplement and consulting company GrainCorp acquired a year ago, which exceeded expectations in its first year under new ownership.

Looking ahead, GrainCorp has raised its full-year earnings guidance, now expecting underlying EBITDA of A$285 million to A$325 million (US$182 million to US$208 million) and net profit after tax of A$65 million to A$95 million (US$41.5 million to US$60.7 million).

Spurway credited the company’s strong balance sheet and agile operations for its ability to manage volatility and sustain performance.

“In an environment of strong global production and tight margins, our strong balance sheet positions us well to manage risks and capitalize on opportunities,” Spurway said.

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