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>Management reiterated its target and that it is on track (conceding that further pricing initiatives would be necessary in FY27) to generate a 7% ROIC on its operational assets (~85% of invested capital) by FY27.</li><li>POT generated a 5.3% ROIC on its operational assets in FY25.</li><li>We believe consensus earnings for FY27 (group EBIT at ~NZ$249m) are broadly consistent with this ROIC goal. </li></ul>

Management reiterated its target and that it is on track (conceding that further pricing initiatives would be necessary in FY27) to generate a 7% ROIC on its operational assets (~85% of invested capital) by FY27.POT generated a 5.3% ROIC on its operational assets in FY25.We believe consensus earnings for FY27 (group EBIT at ~NZ$249m) are broadly consistent with this ROIC goal. 

Port of Tauranga Investor Day—Setting the Course