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

New Zealand King Salmon / Equity Bottom-Up

<ul>
<li>New Zealand King Salmon (NZK) has reported a FY23 result in line with our expectations.</li>
<li>The FY23 pro-forma EBITDA (pre-IFRS 16) loss of –NZ$4.4m is broadly consistent with our estimate of -NZ$4.2m</li>
<li>Demand appears robust in key markets, as price increases and favourable product mix has contributed to higher average selling prices in FY23 (+26% from FY22, and +12% versus our expectations).</li>
</ul>


New Zealand King Salmon (NZK) has reported a FY23 result in line with our expectations.
The FY23 pro-forma EBITDA (pre-IFRS 16) loss of –NZ$4.4m is broadly consistent with our estimate of -NZ$4.2m
Demand appears robust in key markets, as price increases and favourable product mix has contributed to higher average selling prices in FY23 (+26% from FY22, and +12% versus our expectations).


New Zealand King Salmon (NZK): FY23 Result – Initial Impressions