BWA | JUL 2026 23 Lindsay Australia has built its identity around a relatively simple but valuable idea: being useful across more of the agricultural supply chain than a typical transport operator. The company says it is an ASX-listed integrated transport, logistics and rural supply group with a specific focus on food processing, food service, fresh produce and horticulture. On its main site, it describes itself as working in partnership with Australian farmers at all levels of the supply chain. That “paddock to plate” framing is not just branding. Lindsay’s operating structure spans Lindsay Transport, Lindsay Rural, Lindsay Fresh Logistics, and the acquired businesses WB Hunter and SRT Logistics, giving it exposure to freight, warehousing, producemarket handling, rural merchandising and cold-chain distribution. The breadth of that model is one of the main reasons the company stands out in the listed logistics space. FY2025 showed both the scale and the complexity of that model. In its FY2025 annual report, Lindsay said group revenue rose 5.6% to $849.8 million, while underlying EBITDA fell 11.7% to $81.4 million and underlying net profit before tax fell 27.9% to $31.9 million. Management linked the softer earnings result to margin pressure in transport and difficult seasonal and weather conditions in key horticultural regions. Those figures matter because they tell a more realistic story than a simple growth headline would. Lindsay is not a frictionless logistics growth machine; it is an operationally intensive business exposed to fuel, labour, seasonality and produce-market conditions. But the same disclosures also show a company still investing in its network, still growing revenue, and still broadening its national capability through acquisitions and facility upgrades. The transport business remains the core engine. Lindsay says its transport arm has been operating since 1953 and has become one of Australia’s largest refrigerated transport companies, delivering more than 2 million tonnes of freight to more than 3,200 customers. In FY2025, transport revenue rose to $574.0 million,
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