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>Skellerup’s (SKL) FY26 result was as expected given recent guidance.</li><li>Underlying group NPAT was up +18% to NZ$64.2m but with a positive surprise from operating cashflow and net debt.</li><li>SKL has a medium-term target (5-7 years) to double earnings (from FY25 levels) underpinned by new products, growth in core and new markets, and continued (but more modest than recent history) productivity gains.</li></ul>

Skellerup’s (SKL) FY26 result was as expected given recent guidance.Underlying group NPAT was up +18% to NZ$64.2m but with a positive surprise from operating cashflow and net debt.SKL has a medium-term target (5-7 years) to double earnings (from FY25 levels) underpinned by new products, growth in core and new markets, and continued (but more modest than recent history) productivity gains.

Skellerup Holdings

Skellerup (SKL) | FY26 First Impressions