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>FY23 was another strong period for EBOS Group (EBO) with EPS +15%, which rounds off an impressive three-years of growth (FY20–FY23 EPS CAGR of +14%).</li><li>While strong and in-line with our expectations there were numerous signs in 2H23, across both its Healthcare and Animal Care segments, that growth is slowing.</li><li>This is not surprising; reality has now hit and sustaining recent growth is unlikely as industry tailwinds abate and EBO cycles elevated periods. </li></ul>

FY23 was another strong period for EBOS Group (EBO) with EPS +15%, which rounds off an impressive three-years of growth (FY20–FY23 EPS CAGR of +14%).While strong and in-line with our expectations there were numerous signs in 2H23, across both its Healthcare and Animal Care segments, that growth is slowing.This is not surprising; reality has now hit and sustaining recent growth is unlikely as industry tailwinds abate and EBO cycles elevated periods. 

EBOS Group - FY23 Result — Back to Reality

Ebos Group Ltd

EBOS Group - FY23 Result — Back to Reality