Pact Group has reported a decline in revenue and earnings for the first five months of FY26, citing subdued market demand across all segments and geographies.
In its trading update to 30 November 2025, the company posted unaudited revenue of A$726.8 million, down 7.2 per cent on the prior corresponding period. Underlying EBITDA fell 13 per cent to A$90.8 million, while underlying EBIT dropped 28.8 per cent to A$42.1 million.
Pact’s net debt increased 10.3 per cent to A$608.5 million, attributed to ongoing capital investment and the October acquisition of Linpac Packaging Australia from Klöckner Pentaplast for A$8 million.
The company said trading conditions remain challenging and noted it will continue to update the market in line with continuous disclosure obligations.
Meanwhile, Pact Group chair Raphael Geminder is in settlement talks over a long-running $30m dispute with the two businessmen from TIC, David Harris and Mark Gandur, who thwarted his attempt to privatise the group by buying a 6.7% stake in the company. Geminder, who obtained an 88% stake, was able to delist Pact from the ASX in July. It remains an unlisted public company.
Pact bought TIC, a plastic coat hanger and security tag business, in 2018 for $122m, and the disputed $30m is earn-out which Harris and Gandur argue is still owed, and which Pact maintains is not justified due to sub-par performance since the acquisition.
