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>Napier Port (NPH) has reinstated earnings guidance for FY23 having previously withdrawn it following Cyclone Gabrielle.</li><li>Its new EBITDA guidance range of NZ$34.5m-NZ$36.5m compares to our current forecast of NZ$36.5m and the previously withdrawn guidance range of NZ$42m-NZ$48m.</li><li>In addition NPH expects to report 9M23 EBITDA of NZ$29.1m, down from NZ$29.8m for 9M22, implying a near halving of EBITDA in 3Q23 (NZ$7.2m vs NZ$13.3m) against the prior year.  </li></ul>

Napier Port (NPH) has reinstated earnings guidance for FY23 having previously withdrawn it following Cyclone Gabrielle.Its new EBITDA guidance range of NZ$34.5m-NZ$36.5m compares to our current forecast of NZ$36.5m and the previously withdrawn guidance range of NZ$42m-NZ$48m.In addition NPH expects to report 9M23 EBITDA of NZ$29.1m, down from NZ$29.8m for 9M22, implying a near halving of EBITDA in 3Q23 (NZ$7.2m vs NZ$13.3m) against the prior year.  

Napier Port

Napier Port: Reinstates Guidance