TBA GroupPort of StocktonGeneva DryBühler GmbHTMS Awards 2023Cimbria
  • Bühler GmbH
  • TMS Awards 2023
  • Geneva Dry
  • Cimbria
  • Sailors Society
  • Vigan

Drought impacts GrainCorp results

Drought impacts GrainCorp results

(Posted on 14/05/19)

Australia's largest grain handler has recorded $59 million half-year loss due to drought and the lowest East coast Australian grain production in 10 years.

GrainCorp has reported underlying EBITDA1 for the half year ended 31 March 2019 of $27 million (HY18: $119 million)

and an underlying net loss after tax2 of $48 million (HY18 net profit after tax: $36 million). The statutory net loss after

tax3 was $59 million (HY18 net profit after tax: $36 million).

GrainCorp is a leading international agribusiness with diversified operations that span four continents and supply customers in over 30 countries.

The company operates a unique mix of interlinked businesses – Grains, Malt and Oils – which provide a diverse range of products and services to customers across the food and beverage supply chain.

GrainCorp Chief Executive Officer Mark Palmquist said these results reflect a particularly challenging period in grains

and oilseeds, including severe drought conditions in eastern Australia and grain flows have been disrupted by grain

trade conditions.

“East coast Australian grain production was the lowest in over a decade and this has had a significant unfavourable

impact on both our Grains and Oilseeds businesses,” Mr Palmquist said.

“There was continued positive performance from our Malt, Feeds and Bulk Liquid Terminals operations. Our Foods

business also continued to achieve ongoing efficiency improvements.

“GrainCorp recorded encouraging improvements in the Group’s two key safety measures, although we are determined

to pursue further improvement.”

As a result of the half-year financial performance, the Board has determined that GrainCorp will not pay an interim

dividend this period.

The company continues to progress its Portfolio Review initiatives, including the demerger of its Malt business, the

combination of Grains and Oils, simplification and cost reduction initiatives, and the sale of the Australian Bulk Liquid

Terminals to ANZ Terminals. Active engagement with parties who have expressed an interest in part or parts of GrainCorp’s portfolio continues.

As one of Australia's leading grain exporters, GrainCorp owns Eastern Australia's largest integrated grain storage and transport network. Diversified operations span four continents and the global food supply chain. Traceable supply of quality grain and value-added food processing capabilities mean GrainCorp's products and expertise are sought internationally by leading food manufacturers.

Latest News

SSAB invests $74 Million to expand steel production in Alabama

(Posted on 07/05/25)

Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more


GGC welcomes new Canadian government and urges farm priorities action

(Posted on 01/05/25)

Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more


US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote

(Posted on 30/04/25)

The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more


Ukraine already sown two million hectares of spring grains

(Posted on 28/04/25)

As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more


Condobolin rail upgrade fast-tracks NSW grain

(Posted on 25/04/25)

GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more


Rio Tinto and AMG assess low-carbon aluminium project in India

(Posted on 22/04/25)

Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more


BHP record iron ore and copper production demonstrates resilience

(Posted on 22/04/25)

BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more


WTO: Trump’s tariffs will shrink global trade

(Posted on 16/04/25)

The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more


$235million syndicated loan agreement to boost UAE trade with Trafigura

(Posted on 15/04/25)

In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more


Anglo American update on sale of steelmaking coal business to Peabody

(Posted on 15/04/25)

Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more


Sailors SocietyViganPort of South LouisianaTelestackVan Aalst
  • Telestack
  • Port of South Louisiana
  • TBA Group

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping