Bega Cheese has finished FY 2026 with revenue at the top end of guidance, EBITDA growth of nearly 12%, and return on funds employed of 10%. The Australian dairy company lifted its dividend 21% to AUD 0.145 a share and reported net leverage improved to 0.8 times.
The company's branded EBITDA reached AUD 221 million, above the AUD 215 million to AUD 220 million range set in April. Bulk EBITDA came in at AUD 53 million, near the top of guidance. Chief Executive Pete noted that the company has delivered double-digit earnings growth over the first three years of its strategy.
Financial Performance
Bega's revenue rose 6.7%, supported by about 2% volume growth, with the rest coming from product mix, category mix, and pricing that recovered cost inflation. The company's operating results were strong relative to its own plan, with revenue landing at the top end of guidance and branded EBITDA beating the company's April range.
Outlook
Bega guided FY 2027 EBITDA to AUD 240 million to AUD 245 million, implying growth of AUD 15 million to AUD 20 million from FY 2026. Management said the first half should be broadly flat, with the second half carrying more of the growth as cost savings reach full run rate. The company is targeting AUD 310 million EBITDA by 2031 and plans to keep investing in wellness-focused products, automation, and international growth.
