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>Spark (SPK) reports its 1H23 result on Wednesday, 22 February 2023</li><li>SPK has guided for FY23 EBITDAI of NZ$1,185m to NZ$1,225m</li><li>Key points of interest are; (1) an update regarding strategy and growth capex, given the recent Spark Sport exit and TowerCo sale, (2) comments on capital management, given the revised framework, and (3) mobile growth, in particular roaming as tourism resumes.</li></ul>

Spark (SPK) reports its 1H23 result on Wednesday, 22 February 2023SPK has guided for FY23 EBITDAI of NZ$1,185m to NZ$1,225mKey points of interest are; (1) an update regarding strategy and growth capex, given the recent Spark Sport exit and TowerCo sale, (2) comments on capital management, given the revised framework, and (3) mobile growth, in particular roaming as tourism resumes.

Spark New Zealand

Spark NZ: 1H23 Preview