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>Infratil (IFT) will report its FY24 result on Tuesday, 21 May. With the reiteration of its guidance in March, we see little room for major surprises in its FY24 result.</li><li>We believe the key focuses will be: (1) free cash flow (FCF) outlook for One NZ. Over the last four years One NZ has delivered little FCF; we expect this to change by FY25 to improve IFT's cash generative core.</li><li>(2) CDC growth outlook should be strong but it likely needs further capital to fund its growth. </li></ul>

Infratil (IFT) will report its FY24 result on Tuesday, 21 May. With the reiteration of its guidance in March, we see little room for major surprises in its FY24 result.We believe the key focuses will be: (1) free cash flow (FCF) outlook for One NZ. Over the last four years One NZ has delivered little FCF; we expect this to change by FY25 to improve IFT's cash generative core.(2) CDC growth outlook should be strong but it likely needs further capital to fund its growth. 

Infratil - FY24 Preview — One NZ Cash & CDC Growth

Infratil Ltd

Infratil - FY24 Preview — One NZ Cash & CDC Growth