RLF records strong end to FY25
Total cash receipts for FY25 of $26 million, up 74% from FY24
Full year FY25 net cash from operating activities of $800,000 marks 'complete turnaround' from $3.67m deficit in FY23
Special Report: RLF AgTech has reported a strong end to FY25 with cash receipts of $8.9 million in Q4, up 254% on the previous quarter and up 74% YoY with a full year positive operating cashflow.
Reflecting continued improvement in business performance RLF AgTech (ASX:RLF) achieved net cash from operating activities of $800,000 for FY25, up 782% on FY24 of $90k and a 'complete turnaround' from FY23, which saw a deficit of $3.67m.
RLF is a leading provider of crop nutrition products designed to improve agricultural productivity, crop quality and soil health.
The company has completed its first full financial year under renewed leadership and a redefined business strategy.
RLF's June quarter results provide the clearest view yet of its operational cash performance following the comprehensive business restructure.
Positive results include FY25 customer receipts of $26m, up 74% from FY24, attributed to improved sales conversion and performance, with growth recorded across all key regions.
Core operations remained cash generative despite absorbing the one-off costs of group restructuring, transition and new market investment, reflecting the strength of the underlying business.
During FY25 balance sheet restructure debt was materially reduced, interest waived and repayment terms extended, freeing working capital for growth investment.
RLF's cash balance on 30 June 2025, was $6.5m, up 39% YoY, driven by operating performance and disciplined cash management.
The company said the uplift also reflected successful integration of the RLF LiquaForce business, which it acquired in May 2024.
Strategic expenditure for future growth
RLF said the turnaround in FY25 was achieved during a year of substantial strategic expenditure across multiple fronts.
In August 2024, the company formally exited a legacy Australian distribution agreement, regaining full commercial rights to the Australian market leading to the formation of RLF Australia.
The standalone entity required investment and cash outlay across staffing, systems, training resources, promotional materials, product relabelling and national sales coverage.
RLF said It had since become a cornerstone of its growth strategy, enabling direct engagement with key distributors, resellers and growers, while restoring access to revenue streams previously unavailable to the company.
RLF Australia has secured major distribution partnerships with a footprint now spanning more than 500 retail locations, supported by new marketing, technical and logistics capabilities.
In parallel, the company undertook a comprehensive restructuring of its group operations, including streamlining overheads, consolidating reporting lines and redefining roles across domestic and international divisions.
RLF also invested in new equipment and manufacturing capabilities to strengthen its operational base and support commercial programs and grower confidence heading into FY26.
The company upgraded its manufacturing facility in Queensland, bringing cost-effective production in-house and enabling increased responsiveness to distributor and grower demand.
Among strategic purchases was a Variable Rate Applicator for RLF LiquaForce to enhance precision in product application and trial deployment, aligning with its commitment to innovation and agronomic efficiency.
China business recovery with record cash collection
RLF reported Q4 FY25 cash collections in China at record levels of $5.3m, signalling a successful rebound from the same period in FY24.
June pre-orders in the country rose 73% YoY, demonstrating successful distributor engagement and effective digital-led marketing under its Technology Empowering Agriculture theme.
In Vietnam, repeat orders and trial programs from three major distributors including KONA, VINCO, YAMATO signal growing commercial momentum.
The company said new trials in coffee and durian showcased RLF's relevance in high-value crops.
In India, trials with Gujarat Pesticides, ANU Production, Agrico Organic and Geolife mark the beginning of a strategic entry into one of the world's largest fertiliser markets.
Entering biologicals segment
RLF signed an exclusive agreement with AXIOMA Biologicals to distribute its innovative plant-based biostimulants across Australia, China and Asia.
The deal sees RLF's portfolio enter the fast-growing biologicals segment, enabling new margin opportunities.
The company said the biologicals offered growers new, environmentally responsible solutions that aligned with RLF's technology-based approach and enhanced the value of its traditional nutrition offerings.
RLF has also had success with its Hillston Soil Carbon Project, delivering strong measured outcomes, helping validate its carbon and soil sustainability integrated nutrition strategy.
This supports the company's position in the regenerative agriculture sectors.
Board renewal and new management
Acting managing director Gavin Ball stepped into the top role following the restructure about 12 months ago, after first investing in RLF more than a decade ago when it was a private company.
During FY25, directors Liza Carpene and Donald McLay left the board and were recognised for their pivotal roles in the company's ASX debut in 2022 and expansion.
In April, seasoned executive Ben Barlow stepped in as non-executive chair, tasked with steering the next phase of growth.
RLF said further board renewal remained a priority, as the company aligned its governance with its expanding scale and strategic ambitions.
Planting the seeds for scaled growth in FY26
RLF said it entered FY26 with strengthened operations, national market access and a clearer commercial identity.
In Australia, the company said it was well-positioned to drive revenue growth through an established distribution network, expanded field support and the integration of AXIOMA's biological product range.
In China, momentum is building with increased pre-orders, distributor re-engagement and margin recovery underway, while in Southeast Asia RLF said recent market entries were expected to translate into expanding commercial orders following success of initial trial programs.
With a simplified structure, increasingly diversified product base and positive operating cashflows, RLF said it was entering a new phase of commercial scale-up.
'The results of FY25 validate the strategy in place and provide the foundation to deliver meaningful shareholder value in FY26 and beyond,' the company said.
This article was developed in collaboration with RLFAgTech, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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