SYDNEY, AUSTRALIA — GrainCorp, a leading Australian agribusiness and processing company, registered net profit after taxes of A$58.1 million ($37.2 million) for the first half of its 2025 fiscal year, up from A$49.6 million during the same period in 2024, pointing to strong east coast volumes that helped offset tight international margins. 

In its May 15 financial report, GrainCorp said revenue for the six months ended March 31 was A$4.09 billion, an increase of 21% from $3.38 billion a year ago. Underlying EBITDA was A$202 million, up from $164 million.

“GrainCorp delivered a solid half-year result, capitalizing on a large east coast harvest against the backdrop of a competitive global margin environment,” said Robert Spurway, managing director and chief executive officer of GrainCorp. “Strong volumes in Queensland and Northern NSW underpinned this result, offsetting the impact of below-average conditions in Victoria and Southern NSW.”

In the Agribusiness segment, an end-to-end grain and oilseed supply chain business, profit before income tax was A$69.7 million on revenue of A$3.4 billion, compared to profit of A$33.2 million on revenue of A$2.66 billion for the first half of 2024. Commodities and products handled and traded include wheat, coarse grains (including barley, sorghum and corn), oilseeds, pulses and organics.

East Coast Australia business benefited from increased grain production and tonnes received into the network and capitalized on opportunities across several commodities, including chickpeas and canola seed exports, GrainCorp said. Total grain received during the first half of 2025 was 12.2 million tonnes, up from 8.8 million in 2024. Total grain handled rose to 29.5 million tonnes from 25.4 million.

The international business achieved increased sales volumes, driven by higher production in Western Australia. This was offset by reduced margins, as strong production in the Northern Hemisphere competed with Australian grain, the company noted. GrainsConnect Canada continues to experience challenging operating conditions due to the global margin environment.

In Nutrition and Energy, a vertically integrated oilseeds crushing business, profit before income tax reached A$47.5 million with revenue of A$1 billion. Profit during the same period in 2024 was A$52 million on revenue of A$956.8 million.

GrainCorp said its processing facilities within the segment achieved another record half of canola seed crush with an ongoing focus on operational efficiencies. Edible oil crush volumes reached 283,000 tonnes, up from 282,000 the previous year.

While improvements in edible oil sales volumes supported performance, these were countered by weaker crush margins, which were impacted by lower domestic canola seed supply in Victoria and reduced global demand for vegetable oils, GrainCorp said.

In Animal Nutrition, first-half sales volumes were 370,000 tonnes, compared with 218,000 tonnes in 2024. The segment benefited from the strong contribution of feed supplement and nutritional consulting business XFA, which outperformed expectations in the first 12 months of GrainCorp’s ownership.

Looking ahead, GrainCorp raised its full-year earnings guidance for fiscal 2025 to underlying EBITDA of A$285 million to A$325 million and underlying net profit after taxes of A$65 million to A$95 million.

Spurway said the company’s disciplined strategy and agile operations amid ongoing volatility continue to drive benefits for customers, growers and shareholders.

“In an environment of strong global production and tight margins, our strong balance sheet positions us well to manage risks and capitalize on opportunities while our operations remain focused on efficiency, reliability, and delivering long-term value,” he said.

Regarding global trade policy changes and their potential impact, Spurway said Australian agriculture has demonstrated resilience in navigating tariff and non-tariff trade barriers. 

“While these measures typically have a limited effect on global food demand, they can disrupt efficient trade flows, ultimately driving up the cost of food for consumers,” Spurway said. “GrainCorp remains well positioned to manage evolving global trade flows, by servicing a broad and geographically diverse range of end markets, with minimal exposure to the United States.”