New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul><li>Scott Technology (SCT) has modestly lifted its FY30 Protein domain revenue guidance.</li><li>Management has identified growth in BladeStop’s installed base through entry into new geographies and vertical markets as a key part of its segment strategy.</li><li>While we view today’s announcement as an incremental positive building on recent contract momentum, our NZ$147.1m FY30 Protein segment revenue forecast remains below management’s target.</li></ul>

Scott Technology (SCT) has modestly lifted its FY30 Protein domain revenue guidance.Management has identified growth in BladeStop’s installed base through entry into new geographies and vertical markets as a key part of its segment strategy.While we view today’s announcement as an incremental positive building on recent contract momentum, our NZ$147.1m FY30 Protein segment revenue forecast remains below management’s target.

Scott Technology (SCT)—Protein Segment Medium-Term Target Update

<ul><li>Following Scott Technology’s (SCT) announcement of c.NZ$20m in new Materials Handling & Logistics (MHL) contracts, we dive further into the domain.</li><li>We view recent contract momentum as emerging evidence that growth is broadening beyond SCT’s historic potato-processing customer base into the meat, dairy, snacks, and bakery goods sectors, with recent wins also spanning beverage, hygiene products, aerospace, and wine & spirits.</li><li>Our spot valuation declines by -NZ5cps to NZ$3.65.</li></ul>

Following Scott Technology’s (SCT) announcement of c.NZ$20m in new Materials Handling & Logistics (MHL) contracts, we dive further into the domain.We view recent contract momentum as emerging evidence that growth is broadening beyond SCT’s historic potato-processing customer base into the meat, dairy, snacks, and bakery goods sectors, with recent wins also spanning beverage, hygiene products, aerospace, and wine & spirits.Our spot valuation declines by -NZ5cps to NZ$3.65.

Scott Technology Materials Handling & Logistics in Motion

<ul><li>Scott Technology (SCT) released a solid FY26 update, providing first-time FY26 revenue guidance in line with our forecast and EBITDA guidance ahead.</li><li>The update confirms a stronger second-half performance following a softer-than-expected 1H26, consistent with management’s expectations around the timing of projects and contract wins.</li><li>With margins tracking ahead of our prior estimates, we lift our FY26 EBITDA estimate by +8% and our target price by +5% to NZ$3.70, partly reflecting higher peer multiples and model roll-forward.</li></ul>

Scott Technology (SCT) released a solid FY26 update, providing first-time FY26 revenue guidance in line with our forecast and EBITDA guidance ahead.The update confirms a stronger second-half performance following a softer-than-expected 1H26, consistent with management’s expectations around the timing of projects and contract wins.With margins tracking ahead of our prior estimates, we lift our FY26 EBITDA estimate by +8% and our target price by +5% to NZ$3.70, partly reflecting higher peer multiples and model roll-forward.

<ul><li>Scott Technology (SCT) has provided first-time FY26 guidance, expecting operating revenue of NZ$290m—NZ$296m (FB estimate: NZ$293.0m), being +6% ahead of FY25 at the midpoint.</li><li>It also guided to operating EBITDA of NZ$34m—NZ$36m, and at the midpoint, this EBITDA forecast is c.+7% ahead of our NZ$32.8m estimate, and at the midpoint is +11% on NZ$31.5m in FY25.</li><li>SCT expects to report its FY26 result on 22 October 2026.</li></ul>

Scott Technology (SCT) has provided first-time FY26 guidance, expecting operating revenue of NZ$290m—NZ$296m (FB estimate: NZ$293.0m), being +6% ahead of FY25 at the midpoint.It also guided to operating EBITDA of NZ$34m—NZ$36m, and at the midpoint, this EBITDA forecast is c.+7% ahead of our NZ$32.8m estimate, and at the midpoint is +11% on NZ$31.5m in FY25.SCT expects to report its FY26 result on 22 October 2026.

Scott Technology (SCT)—Solid FY26 Trading Update

<ul><li>Scott Technology (SCT) has this morning announced a ‘major’ new mining contract to deliver Rocklab’s Automated Modular Solution (AMS) to one of the world’s largest testing, inspection, and certification (TIC) providers.</li><li>The deal marks the first deployment of SCT’s AMS technology into a large-scale commercial minerals laboratory.</li><li>To make this sale ‘major’, we would expect >5 units have been contracted and to be delivered over time.</li></ul>

Scott Technology (SCT) has this morning announced a ‘major’ new mining contract to deliver Rocklab’s Automated Modular Solution (AMS) to one of the world’s largest testing, inspection, and certification (TIC) providers.The deal marks the first deployment of SCT’s AMS technology into a large-scale commercial minerals laboratory.To make this sale ‘major’, we would expect >5 units have been contracted and to be delivered over time.

Scott Technology (SCT): Mining Contract Announcement

New Zealand

Scott Technology Limited and its subsidiaries manufacture and service automated manufacturing lines for the appliance industry worldwide.  The Company designs and builds complete manufacturing systems ranging from small coil processors to large assembly facilities.

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Scott Technology (SCT NZ)

Scott Technology (SCT)—Protein Segment Medium-Term Target Update

Scott Technology (SCT) has modestly lifted its FY30 Protein domain revenue guidance. Management has identified growth in BladeStop’s installed...

Forsyth Barr

Scott Technology Materials Handling & Logistics in Motion

Following Scott Technology’s (SCT) announcement of c.NZ$20m in new Materials Handling & Logistics (MHL) contracts, we dive further into the...

Forsyth Barr

Scott Technology FY26 Stacking up Nicely

Scott Technology (SCT) released a solid FY26 update, providing first-time FY26 revenue guidance in line with our forecast and EBITDA guidance...

Forsyth Barr

Scott Technology (SCT)—Solid FY26 Trading Update

Scott Technology (SCT) has provided first-time FY26 guidance, expecting operating revenue of NZ$290m—NZ$296m (FB estimate: NZ$293.0m), being +6%...

Forsyth Barr

Scott Technology (SCT): Mining Contract Announcement

Scott Technology (SCT) has this morning announced a ‘major’ new mining contract to deliver Rocklab’s Automated Modular Solution (AMS) to one of...

Forsyth Barr

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