Breville Group Ltd

BRG: XASX (AUS)

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Breville: We Think Margins Have Bottomed as Tariffs Weigh on Profitability

Angus Hewitt

Jun 19, 2026

Breville's gross margins have taken a hit due to US tariffs on Chinese manufacturing. Gross margins in the first half of fiscal 2026 fell 130 basis points from the year prior to about 35%. The company has been diversifying production to lower-tariff countries like Mexico, Indonesia, and Cambodia.

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Breville Group Ltd

Breville: We Think Margins Have Bottomed as Tariffs Weigh on Profitability

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