New Zealand Professional Investment Services Firm

Forsyth Barr

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.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Gentrack (GTK) reported a weak, albeit well-guided 1H26 result.</li><li>Despite near-term weakness, management reiterated that the Utilities pipeline includes “more than 10” customer opportunities spanning ~30m meter points, with GTK targeting 3 to 4 wins by March 2027, which would support stronger FY27 growth.</li><li>GTK also announced the acquisition of NZ-founded SaaS company Factor, adding forecasting and pricing technology to the g2.0 platform.</li></ul>

Gentrack (GTK) reported a weak, albeit well-guided 1H26 result.Despite near-term weakness, management reiterated that the Utilities pipeline includes “more than 10” customer opportunities spanning ~30m meter points, with GTK targeting 3 to 4 wins by March 2027, which would support stronger FY27 growth.GTK also announced the acquisition of NZ-founded SaaS company Factor, adding forecasting and pricing technology to the g2.0 platform.

Gentrack (GTK): 1H26 Result–Weak But As Expected

Gentrack Group

Gentrack (GTK): 1H26 Result–Weak But As Expected