Highlights

  • Scales Corporation confirms FY25 Underlying NPAT guidance between NZD 54.0 million and 59.0 million, maintaining growth due to expanded subsidiaries’ stakes.
  • FY26 earnings guidance estimates Underlying NPAT of NZD 50.0 million to 55.0 million with expected revenue surpassing NZD 1 billion.
  • Interim dividend declared at 12.5 cents per share, payable in January 2026.

Scales Corporation Limited (NZX:SCL), a diversified agribusiness investor, has reaffirmed its market guidance for the year ending 31 December 2025, forecasting an Underlying Net Profit after Tax (NPAT) attributable to shareholders between NZD 54.0 million and 59.0 million. The company highlights consistent performance across Global Proteins, Horticulture, and Logistics divisions, alongside expanded stakes in key subsidiaries and joint ventures. Looking ahead, FY26 guidance anticipates underlying NPAT between NZD 50.0 million and 55.0 million, with an expected group revenue exceeding NZD 1 billion.

Consistent Performance and Strategic Investments in 2025

Scales Corporation’s 2025 results demonstrate operational stability with gains in several business areas. The Global Proteins division continued its reliable performance, supported by increased ownership in subsidiaries such as Shelby Foods (now 67.5%) and full ownership of Meateor Australia and Fayman International. The stake in ANZ Exports also rose to 85%.

The Horticulture division benefited from favourable growing conditions during the 2024/25 season, driving apple export volumes above expectations. Investments in premium apple varieties geared towards Asia and the Middle East markets, including the previous year’s Bostock acquisition, contributed to a rise in earnings compared to 2024.

Logistics operations maintained positive momentum despite ongoing global supply chain challenges, meeting increased demand effectively.

Guidance for 2026 Indicates Moderate Earnings Adjustment

Looking toward FY26, the company advises reduced earnings guidance compared to the exceptional 2025 results, anticipating an Underlying NPAT range from NZD 50.0 million to 55.0 million. This figure still represents an approximate 40% increase over the original guidance for FY25, indicating continued growth expectations.

Key factors influencing FY26 include:

  • Continued strong performance anticipated in the Global Proteins division and increased benefits from recent investments in subsidiaries.
  • The Horticulture segment forecasts approximately 3.5 million TCEs crop, with expectations of positive pricing partly supported by favourable exchange rates; however, some volume reduction is expected due to orchard redevelopment in premium varieties.
  • Logistics is expected to remain a positive contributor despite supply chain disruptions.

The guidance implies underlying EBITDA between NZD 129.0 million and 136.0 million, with projected revenue exceeding NZD 1 billion driven by full-year consolidation of subsidiaries.

Interim Dividend and Corporate Overview

The Directors declared an interim cash dividend of 12.5 cents per share for FY25, partially imputed at 50%, payable on 23 January 2026.

Founded in 1897, Scales Corporation operates globally across New Zealand, Australia, the United States, and Europe, focusing on agribusiness through its three divisions: Global Proteins, Horticulture, and Logistics.