Full Year 2024 Scales Corporation Ltd Earnings Call Transcript
Key Points
- Scales Corp Ltd (NZSE:SCL) reported underlying NPAT attributable to shareholders of $19 million, at the top end of guidance.
- The Global Proteins division produced a strong underlying EBITDA of $54.5 million.
- Horticulture division achieved a robust underlying EBITDA of $14.8 million despite Cyclone Gabrielle.
- Logistics division delivered a solid underlying EBITDA of $4.3 million despite lower volumes and trade route issues.
- The company has made considerable strategic progress in Global Proteins, including the commissioning of the Meateor Australia plant and the first processing line at Esro Petfood.
- Reported NPAT attributable to shareholders was significantly down at $5.2 million due to goodwill impairment and asset write-downs.
- Revenue decreased by 9% to $565.4 million compared to last year's record revenue.
- Underlying NPAT and EBITDA were below last year at $38.4 million and $67.5 million, respectively.
- The Horticulture division faced lower volumes and revenue due to Cyclone Gabrielle.
- Global Proteins experienced a decrease in petfood ingredient volumes due to customers returning to lower pre-COVID inventory levels.
Thank you for standing by, and welcome to the Scales Corporation Limited Full Year Results. (Operator Instructions) I would now like to hand the conference over to Mr. Andy Borland, Managing Director. Please go ahead.
Welcome to the Scales full year results announcement for the year ended 31 December 2023. With me is Steve Kennelly, our CFO; and Geoff Smith, our Chief Operations Officer. Earlier this morning, we lodged our results with the NZX, including a slide pack that we'll base our comments on during this call. We'll run through the slides and then take questions.
If you have further questions after the call, we'll be available for the rest of the day. With respect of an agenda, we'll go through the results and performance for 2023, then provide you with our current outlook for 2024.
Moving on to a summary of last year's results. After a disruptive year, we're pleased to report a very commendable group performance with earnings at the top end of guidance.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
