Scales Corporation Limited Analysis

Overview

Scales Corporation is a diversified agribusiness portfolio. It comprises three operating divisions: Horticulture, Storage & Logistics and Food Ingredients. The company's diverse spread of activities gives Scales broad exposure to New Zealand's agribusiness sector. Scales Corporation was founded in 1897 as a shipping business by George Herbert Scales. The company employs more than 500 staff New Zealand wide.

Performance

The following information was extracted from Scales Corporation Limited's Full Year results, released on 25 February 2026:

GROWTH STRATEGIES DELIVERING RECORD RESULTS

Highlights – 12 Months to 31 December 2025

Diversified agribusiness group Scales Corporation Limited (NZX:SCL) today reported its FY2025 full year results. Reported NPAT Attributable to Shareholders was $101.0 million (FY2024 (restated) : $30.3 million). Reported basic earnings per share for FY2025 were 70.7 cents per share

(FY2024 (restated): 21.3 cents per share).

Underlying NPAT Attributable to Shareholders was $61.8 million (FY2024 (restated): $34.1 million) and Underlying earnings per share for FY2025 were 43.3 cents per share (FY2024 (restated): 24.0 cents per share).

• Group FY2025 financial results:

o Underlying NPAT of $77.6 million, up 45 per cent (FY2024 (restated): $53.4 million)

o Reported NPAT of $117.7 million, up 137 per cent (FY2024 (restated): $49.6 million)

o Underlying EBITDA of $137.6 million, up 50 per cent (FY2024 (restated): $91.7 million)

o Revenue of $899.9 million, up 54 per cent (FY2024: $584.6 million)

• Divisional summary:

o The Horticulture division delivered an outstanding result through increased volumes, prices and improved variety mix

o Solid performance by Global Proteins with strong results for Shelby, Meateor Australia, Meateor NZ and Fayman International

o Another record Logistics result driven by a significant increase in volumes