Toshiba Australia profit falls as revenue & cash drop

Toshiba (Australia) Pty Limited reported a lower profit for the year ended 31 March 2026, with revenue and operating cash flow both declining.

The company recorded a profit of AUD $1.529 million for the year, down from AUD $2.294 million in 2025.

Profit before income tax was AUD $2.742 million, broadly unchanged from AUD $2.750 million a year earlier. The result was affected by a higher income tax expense, which increased to AUD $1.213 million from AUD $456,000.

The Directors' Report said the company's principal activities during the year were importing and distributing Toshiba electronic imaging devices. It reported profit from operations of AUD $1.529 million, compared with AUD $2.294 million in the previous year.

Revenue declines

Revenue from contracts with customers fell to AUD $110.611 million from AUD $115.889 million.

Sales of goods declined to AUD $60.333 million from AUD $62.929 million. Revenue from services fell to AUD $50.278 million from AUD $52.960 million.

Other revenue also decreased. Interest income fell to AUD $850,000 from AUD $1.044 million, while other revenue declined to AUD $6.859 million from AUD $7.068 million.

Total revenue and other gains reached AUD $119.039 million, down from AUD $123.986 million.

The company also recorded a net foreign exchange gain of AUD $719,000, compared with a net loss of AUD $15,000 in the previous year.

Costs shift

The decline in revenue was accompanied by a change in the composition of the company's costs.

Cost of goods sold increased to AUD $44.659 million, from AUD $40.016 million. Cost of providing services, however, fell sharply to AUD $11.139 million, compared with AUD $18.982 million in 2025.

Selling, general and administrative expenses declined to AUD $58.605 million, from AUD $60.501 million.

Finance expenses increased to AUD $1.894 million from AUD $1.737 million. The finance expense relates to interest on lease liabilities.

Cash flow weakens

Toshiba Australia's operating cash flow fell to AUD $9.843 million in 2026 from AUD $15.934 million a year earlier.

Receipts from customers were AUD $125.788 million, compared with AUD $127.442 million in 2025.

Payments to suppliers and employees increased to AUD $123.574 million, from AUD $119.473 million.

The resulting cash generated before interest, other revenue and tax was AUD $2.214 million, compared with AUD $7.969 million.

Interest received was AUD $850,000 and other revenue contributed AUD $6.859 million. Income taxes paid were AUD $80,000.

Cash remains strong

Cash and cash equivalents stood at AUD $24.367 million at 31 March 2026. That was down from AUD $25.138 million at the end of the previous financial year.

Cash held at bank and in hand fell to AUD $11.350 million from AUD $14.622 million. Short-term deposits held with a related party increased to AUD $13 million from AUD $10.5 million.

The company spent AUD $865,000 on property, plant and equipment during the year, compared with AUD $4.365 million in 2025.

It also spent AUD $362,000 on intangible assets, compared with AUD $11,000 a year earlier.

Investing activities therefore resulted in a net cash outflow of AUD $1.227 million, compared with AUD $4.376 million in 2025.

Dividend reduced

Toshiba Australia paid a final ordinary dividend of AUD $2.294 million during the year.

That was lower than the AUD $3.371 million dividend paid in 2025.

The dividend was reflected in the company's statement of changes in equity, with retained earnings falling from AUD $2.737 million to AUD $1.972 million after the year's profit, dividend payment and other movements.

Total equity declined to AUD $27.986 million at 31 March 2026 from AUD $29.708 million.

Issued capital remained unchanged at AUD $27.050 million. Other reserves moved to negative AUD $1.036 million from negative AUD $79,000, mainly due to foreign currency translation differences.

Assets decline

Total assets stood at AUD $74.788 million at year-end, down from AUD $80.904 million.

Current assets fell to AUD $53.502 million from AUD $57.974 million. Trade receivables declined to AUD $15.675 million from AUD $19.043 million, while inventories fell to AUD $10.847 million from AUD $11.771 million.

Right-of-use assets also decreased to AUD $8.312 million, compared with AUD $10.917 million in 2025.

Total liabilities declined to AUD $46.802 million from AUD $51.196 million.

Current liabilities fell to AUD $33.923 million from AUD $38.266 million. Lease liabilities accounted for AUD $15.620 million across current and non-current obligations at year-end.

Lease obligations

The company continued to carry significant lease commitments.

Lease liabilities totalled AUD $15.620 million at 31 March 2026, down from AUD $17.977 million.

Current lease liabilities declined to AUD $3.519 million from AUD $6.809 million, while non-current lease liabilities increased to AUD $12.101 million from AUD $11.168 million.

Future lease payments were estimated at AUD $17.406 million, including AUD $3.306 million due within one year and AUD $9.539 million due between one and five years.

Related parties

Toshiba Australia recorded AUD $6.826 million in sales of services to related parties during the year, compared with AUD $7.114 million in 2025.

Sales of goods to related parties were AUD $51,240.

The company purchased AUD $37.428 million of goods from related parties, down from AUD $41.220 million.

At year-end, AUD $12.313 million was owed to commonly controlled entities, compared with AUD $14.529 million in 2025.

The financial statements identify Toshiba Corporation as the ultimate parent entity and Toshiba Tec Corporation as the immediate parent entity.

Future outlook

The Directors said they expect Toshiba Australia to continue its principal activities of importing and distributing Toshiba electronic imaging devices.

They reported no significant changes in the company's state of affairs during the year and no significant events after 31 March 2026 that affected, or were expected to affect, its operations, results or state of affairs.

The financial statements were authorised for issue by the Directors on 30 July 2026. They were prepared in Australian dollars and rounded to the nearest thousand dollars, except where certain amounts were rounded to the nearest dollar.