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

Summerset Group Holdings / Equity Bottom-Up

<ul><li>Summerset (SUM) will report its FY24 results on Friday, 28 February.</li><li>We expect solid growth across revenue, annuity EBITDA and underlying earnings, but see room for disappointment, particularly with its Australian expansion and net debt growth.</li><li>SUM mentioned at its early December 2024 investor day it was tracking broadly in line with then current consensus earnings estimates (~NZ$204m underlying earnings), but the components between new sale gains and annuity EBITDA will be important. </li></ul>

Summerset (SUM) will report its FY24 results on Friday, 28 February.We expect solid growth across revenue, annuity EBITDA and underlying earnings, but see room for disappointment, particularly with its Australian expansion and net debt growth.SUM mentioned at its early December 2024 investor day it was tracking broadly in line with then current consensus earnings estimates (~NZ$204m underlying earnings), but the components between new sale gains and annuity EBITDA will be important. 

Summerset Group - FY24 Preview—Cost Control Vs Aussie Woes