From its poultry meat operations in Australia and New Zealand, Inghams Group Limited reports that tight cost control and customer diversification contributed to the firm’s solid financial position at the end of the 2025 fiscal year, which just ended. Figures for the previous year, which comprised 53 weeks, have been adjusted to allow comparison with 2025.
At a little over 3.15 billion Australian dollars (AUD; US$2.03 billion), the group’s total revenue in 2025 was down 1.5% year-on-year. However, underlying operating profit — expressed as Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) — was just marginally lower than in the previous year at AUD236.4 million.
Commenting on the latest results, Inghams Group CEO and Managing Director Ed Alexander described the previous 12 months as a period of significant change. Among the group’s achievements he highlighted were the negotiation of a renewed contract with one of its leading customers, Woolworths, and successful diversification of its client base.
Overall, Inghams increased its total poultry meat production volume by 2.3% year-on-year to 580,000 metric tons. Overall net selling price was slightly higher than in 2024 at AUD6.31 per kilo.
Business developments differ by market
In Australia, evolution of the group’s supply agreement with Woolworths and generally softer market conditions drove a 2.5% year-on-year decline in core poultry volume for Inghams Group’s operations. Revenue for this operation was down as a result.
Overall, retail sales for the year were lower as a result of the Woolworths changes, as well as declines in wholesale and export sales. However, partial compensation was achieved through increased sales to other retail customers and through quick-service restaurant (QSR) channels.
External feed sales in Australia were down year-on-year.
In contrast, strong retail poultry meat sales in New Zealand helped drive core poultry volume for this Inghams’ business up by 5.2% compared with 2024, and revenue increased 4%.
Also in New Zealand, the group saw a reduction in external feed sales. However, this was partially offset by stronger internal demand from Bromley Park Hatcheries, which the group acquired in 2023.
Future business outlook
Based on the 2025 results, Inghams Group is forecasting underlying EBITDA to be in the range AUD215-230 million for the 2026 financial year.
Poultry meat volumes are expected to be slightly higher, while the average net selling price may be down due to market conditions and competition.
Excluding feed, the expectation is for the firm’s operating costs to rise modestly. Meanwhile, feed costs are forecast to dip, leading to benefits in the second half of the year.
“We remain confident in our long-term value proposition, underpinned by solid business and market fundamentals, and a clear strategic agenda focused on outstanding customer service, cost optimization, and margin enhancement,” said Alexander.
More on Inghams Group
Inghams Group is the largest poultry meat company in Oceania, according to the WATT Poultry Top Poultry Companies survey for 2023. In that year, production was 229 million birds (chickens and turkeys).
Across Australia and New Zealand, the firm operates around 340 facilities, comprising hatcheries, farms for breeding and growing broilers, processing and further processing plants, feed milks and distribution centers.
Within the last six months, Ed Alexander began his tenure as CEO and managing director of Inghams Group, and Matthew Easton was appointed CEO for the New Zealand operation.
With the view to reducing the carbon footprint of its feed operations, and reliance on imported feed ingredients, Inghams Group has recently announced the formation of a new partnership to create feedstock from geothermal gases.
