Synlait Milk reports NZD 75.40 million loss: what it means for Synlait Milk stock

Synlait Milk (ISIN NZSMLE0001S9) reported a NZD 75.40 million net loss after tax for fiscal year 2026, although its second half returned to profit, according to Synlait Milk on September 28, 2026. The result leaves the New Zealand dairy processor balancing an operating recovery against debt and cash-flow pressure.

What does recovery mean?

Synlait reported fiscal year 2026 revenue of NZD 1.94 billion, up 6 percent, while underlying EBITDA reached NZD 46.30 million. The company still posted an underlying net loss after tax of NZD 21.60 million, showing that better production performance had not yet restored full-year profitability, as The Globe and Mail reported on September 28, 2026.

The recovery was concentrated in the second half. Net profit after tax moved from an NZD 80.60 million first-half loss to an NZD 5.20 million second-half profit, while reported EBITDA swung from an NZD 34.70 million loss to NZD 42.80 million profit. Manufactured-in-spec output improved from 91 percent in the first half to 95 percent in the second half and reached 99 percent in August 2026, according to eDairy News.

Analyst target and calendar

The latest analyst view cited by The Globe and Mail on September 28, 2026 was a Hold rating with a NZD 0.38 price target. That target is below the NZD 0.46 NZX price cited below, keeping the balance sheet and the durability of the second-half improvement central to the stock discussion.

Synlait will close director nominations at 5:00 p.m. New Zealand time on November 3, 2026, before holding its annual meeting on December 4, 2026, according to NZX on October 16, 2026.

Stock price and market value

Synlait stock was NZD 0.46 on the NZX on October 19, 2026 at 1:45 p.m. NZDT. Its market capitalization was NZD 274.5 million at the same time, placing the recovery narrative against a comparatively small equity value and NZD 215.0 million of reported year-end net debt.