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Australian Agricultural Company Limited (ASX:AAC)

ALERT: Price-sensitive ASX Announcement for AAC
Current share price for AAC : $1.310 -0.14 (-9.66%)+
Announcement
Release
5 Jan 2026 8:24AM
Price at Release
$1.450
Full Release
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Summary
The Australian Agricultural Company Limited (AACo) announced the impact of the 2025/2026 North Queensland floods on three of its properties, affecting approximately 55,000 head of cattle. The company is prioritizing the safety of its staff and animals and is monitoring the evolving situation to manage the impact on operations. AACo remains committed to its market obligations despite not having insurance coverage for flooding events, due to prohibitive costs. The financial repercussions for the March 2026 financial year are still being assessed, though expected to be significant.
Key Points
  • The Australian Agricultural Company Limited (AACo) confirmed that recent floods in North Queensland have impacted three of its properties: Carrum, Dalgonally, and Canobie aggregation.
  • AACo's immediate priority is the safety of its people and the welfare of its animals.
  • The company's properties are carrying approximately 55,000 head of cattle, which is lower than during the 2019 flood event in the same region.
  • Despite the flooding, the company remains committed to fulfilling its supply obligations to key markets.
  • AACo does not hold insurance for its herd and infrastructure against flooding events due to prohibitive costs.
  • The financial impact on AACo's earnings for the March 2026 financial year is yet to be determined, but it is expected to be material.
  • Management is actively monitoring and managing the situation.
  • South-western Queensland and the Northern Territory, where most of AACo's properties are located, continue to experience favorable rainfall conditions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.