Research on Eldorado Gold Corporation (ELD) from RaaS Research Group
Elders (ASX:ELD) is one of Australia’s largest agricultural product retailers, stock traders and associated rural property agents. ELD has expanded into broader real estate agency ownership in regional NSW and Tasmania. ELD’s store network comprises 260 directly branded stores, as well as ownership of other store brands (AIRR), and most recently the Delta acquisition for $475m (final ACCC approval 3-Nov. 2025). Delta is being managed under the group corporate umbrella, with an autonomous ‘light touch’ approach. Key report focus: can the Delta acquisition achieve the synergy gains required to reach its targeted returns/ ELD’s yearly trading is based around key farm inputs including fertiliser and crop protection, with additional spend that may also be necessitated by floods or bushfire damage (such as fence replacement and farm equipment). The move into real estate agency sales, which provides a less cyclical earnings base, does raise the issue of fit and diversification within the agri-business positioning.
View Full ResearchDisclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
