PGG Wrightson FY27 Market Guidance

PGG Wrightson Ltd | NZX Announcement

13 OCTOBER 2026

PGG Wrightson FY27 Market Guidance
FULL-YEAR OPERATING EBITDA FORECAST TO BE APPROXIMATELY $70 MILLION

PGG Wrightson Limited
1
(PGW) Chair, John Nichol, today provided market guidance for the
financial year ending 30 June 2027.

Mr Nichol said, “While much of PGW’s key trading period remains ahead, first-quarter
performance has been encouraging, particularly in Retail & Water. Earnings from Livestock,
PGW’s second-largest business unit, are weighted toward the second half of the financial year.
This positive start, together with generally favourable conditions and continued confidence
across much of the primary sector, supports a cautiously optimistic outlook for FY27.

“Based on current trading and market conditions, PGW expects Operating EBITDA
2
for the
financial year ending 30 June 2027 to be approximately $70 million, compared with $64.3 million
in FY26. We will reassess this forecast after the key second-quarter trading months and update
the market as appropriate.”


The outlook for New Zealand agriculture remains generally positive. Strong commodity pricing
and improving farm profitability continue to support farmer confidence and investment
intentions, although elevated fuel, fertiliser, financing, and other input costs remain a constraint.
A weaker New Zealand dollar is increasing some imported costs while also supporting export
returns.

Dairy and red meat returns remain favourable, supported by resilient international demand and
constrained global supply. Horticulture conditions are also positive for kiwifruit and apples,
while rural property activity remains supportive, particularly for dairy and kiwifruit properties.

PGG Wrightson Ltd | NZX Announcement
Conditions are more challenging in parts of the arable and viticulture sectors, where lower
commodity prices, oversupply in some categories and cost pressures are contributing to a more
cautious operating environment.

Weather remains an important variable. The prospect of El Niño conditions increases the risk of
dry conditions, particularly in eastern regions. Global economic, geopolitical and climatic risks
also remain, and New Zealand’s general election in November may influence domestic agri-
sector policy.

Mr Nichol concluded, “Despite these uncertainties, New Zealand agriculture enters FY27 in a
stronger position than it has been for several years. PGW’s nationwide footprint, technical
expertise, innovation and enduring customer relationships position the Group well to support
customers and respond to opportunities across the primary sector.”

For investor relations and media enquiries, please contact:
Julian Daly
General Manager Corporate Affairs / Company Secretary
PGG Wrightson Limited
Phone: 0800 10 22 76 / +64 3 477 4520
Email: companysecretary@pggwrightson.co.nz

Registered Office:
PGG Wrightson Limited
1 Robin Mann Place, Christchurch Airport
Christchurch 8053, New Zealand
Phone: 0800 10 22 76 / +64 3 477 4520
Website: pggwrightson.co.nz


1
All references to PGG Wrightson Limited refer to the company and its subsidiaries (together referred to as the
Group).
2
Operating EBITDA: Earnings before net interest and foreign exchange items, income tax, depreciation,
amortisation, the results from discontinued operations, impairment and fair value adjustments, and non-
operating items. PGW has used non-GAAP profit measures when discussing financial performance in this
document. Please refer to our full accounts for details of how Operating EBITDA relates to GAAP. For a
comprehensive discussion on the use of non-GAAP profit measures, please refer to the policy “Non-GAAP
Accounting Information” available on our website (
www.pggwrightson.co.nz
).