Highlights

• Metcash generated FY26 Group revenue of AU$19.63 billion, up 0.7% from the prior year.
• Group EBITDA increased 1.9% to AU$761.70 million, while operating cash flow rose to AU$558.00 million.
• FY26 dividends totalled 18.0 cents per share, with the entire distribution carrying full franking credits.

Metcash Reports Resilient FY26 Performance

Metcash Limited (ASX: MTS) released its 2026 Annual Report on 7 August 2026, covering the financial year ended 30 April 2026. The Australian wholesaler delivered a resilient result despite cost-of-living pressures, softer hardware markets and continued weakness in legal tobacco sales.

Group revenue, including charge-through sales, increased 0.7% to AU$19.63 billion, compared with AU$19.49 billion in FY25. Excluding tobacco, revenue growth was stronger at 3.8%. EBITDA advanced 1.9% to AU$761.70 million, while underlying EBIT eased 0.8% to AU$503.70 million. Excluding AU$12.40 million of strategy and integration costs, EBIT increased 1.6%.

Underlying profit after tax decreased 2.4% to AU$268.80 million, while reported profit after tax declined 1.5% to AU$279.10 million. Operating cash flow strengthened 3.5% to AU$558.00 million, reflecting disciplined working-capital management.

Metcash declared a 9.5-cent-per-share final dividend with full franking, lifting total dividends for FY26 to 18.0 cents per share.

Food Leads Earnings Growth

The Food division remained a major earnings contributor, with EBIT increasing 5.4% to AU$261.80 million. Revenue including charge-through sales reached AU$10.50 billion, while sales excluding tobacco increased 5.4%. Growth was supported by improved supermarket competitiveness and continued expansion in Foodservice & Convenience.

Liquor revenue increased 1.0% to AU$5.40 billion, although EBIT softened to AU$100.10 million. Hardware & Tools generated revenue of AU$3.70 billion, up 4.3%, while EBIT reached AU$177.30 million amid subdued residential construction activity.

FY27 Trading Shows Early Improvement

Metcash said FY27 sales began steadily, with softer conditions in May followed by a noticeable improvement in June. After weaker trading early in the period, Food and Liquor conditions improved, while Hardware & Tools continued to build momentum, supported by high single-digit growth at Total Tools.

Note- All data presented is based on information available at the time of writing.

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