Abbott to Acquire Synlait North Island Assets as Synlait Reports NZ$80.6m H1 Loss
Synlait reported a NZ$80.6m net loss and NZ$35m negative EBITDA in H1, while revenue rose 3.5% to NZ$949m. The planned sale of its North Island assets to Abbott is on track to complete next week as part of its three-part recovery roadmap.
1. Asset Sale On Track
Synlait’s divestment of its North Island manufacturing sites to Abbott is scheduled to close next week, marking the completion of a key step in its three-part plan to simplify operations.
2. H1 Financial Results
In the six months to January, Synlait posted a net loss of NZ$80.6m and an EBITDA loss of NZ$35m on revenue of NZ$949m, while net debt rose 88% to NZ$472.1m.
3. Strategic Implications
The sale will allow Synlait to focus on its South Island assets and strengthen operational stability, while Abbott gains additional dairy processing capacity in New Zealand’s North Island.