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FINWIRES

Nufarm Sees Fiscal H1 Underlying EBITDA of Up to AU$244 Million; Shares Surge 16%

-- Nufarm (ASX:NUF) said its fiscal first-half underlying earnings before interest, tax, depreciation, and amortization (EBITDA) is expected to be between AU$239 million and AU$244 million, up about 17% on the prior corresponding period at the midpoint, according to a Wednesday Australian bourse filing.

The company said net debt as of March 31 stood at about AU$1.23 billion, down AU$130 million on the prior corresponding period, with net debt to underlying EBITDA for the last 12 months of about 3.6 times, a 20% reduction on the prior corresponding period.

Nufarm said a strategy refresh is targeting an additional AU$50 million in cost savings, with cash implementation costs of about AU$15 million weighted toward fiscal 2027 and full run-rate savings expected by the end of that year.

The company said positive trading momentum has continued across all regions in April, with supply chains operating largely normally as it manages higher costs of active ingredients, freight and energy arising from the Middle East conflict through inventory management and pricing actions.

Nufarm's shares surged 16% in recent Wednesday trade.

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