Scales Corp. Ltd. · NZX:SCL
Scales — Shareholder Meeting (June 2025)
33 slides from Scales's shareholder meeting presentation, Jun 10, 2025
Slide 1: Bringing Nutrition to the World
Scales Corporation Limited Bringing Nutrition to the World 2025 Annual Shareholders’ Meeting 10 June 2025
Slide 2: Agenda
Agenda 01. Welcome and Chair’s Review 02. Managing Director’s Review Review of 2024 Transactions Update and Outlook 03. Ordinary Resolutions 04. Voting and Questions Esro’s new processing facility in the Netherlands 2 Scales Corporation Limited – 2025 ASM
Slide 3: How to Participate in Virtual / Hybrid Meetings and ask a Question
How to Participate in Virtual / Hybrid Meetings and ask a Question Shareholder & Proxyholder Q&A Participation Online Questions If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime Type your question into the field and press
Slide 4: How to Participate in Virtual / Hybrid Meetings and Vote
How to Participate in Virtual / Hybrid Meetings and Vote Shareholder & Proxyholder Voting Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting To vote, simply click on the Vote tab and select your voting direction from the options sho
Slide 5: Welcome and Chair's Review
01. Welcome and Chair’s Mr Apple exhibition, Vietnam Review
Slide 6: Welcome and Chair's Review
Welcome and Chair’s Review Delighted to welcome all shareholders and stakeholders to the meeting, both in person and online Inside Shelby’s new toll processing facility Excellent financial performance whilst delivering on our growth strategy, delivering record results Underlying1 result towards the
Slide 7: Welcome and Chair's Review (cont.)
Welcome and Chair’s Review (cont.) Continuing to seek acquisitive and organic growth opportunities to expand our business, in line with our stated strategy. This includes increasing our shareholding in our Global Proteins businesses over time Delighted to acquire a further 7.5% holding in Shelby in
Slide 8: Our People and Teams
Our People and Teams Health, safety and wellbeing continues to be a top priority and, accordingly, we appointed Nadine Tunley into a 615 new role as Chief Risk Officer Permanent staff members Established an emerging leaders group to connect emerging leaders across Scales to discuss challenges and op
Slide 9: Managing Director's Review
02. Managing Director’s Inside Shelby’s new toll processing facility Review
Slide 10: Review of 2024
Review of 2024 Shelby’s new in-plant collection and cooling system Scales Logistics’ new Auckland warehouse and chiller facility
Slide 11: By the Numbers
By the Numbers $584.6m $91.7m $12.5m 15.0 cents revenue Underlying EBITDA net cash dividends per share declared in relation to 2024 (2023: $565.4m) (2023: $67.5m) (2023: $12.0m) (2023: 8.5 cents) 152,149 MT 30,068 3,033,000 14.5% petfood ingredients sold1 TEU2 equivalents managed TCEs of own-grown R
Slide 12: Trends in Group Financial Performance
Trends in Group Financial Performance Underlying NPAT Underlying EBITDA Revenue Attributable to Shareholders 12 Scales Corporation Limited – 2025 ASM
Slide 13: Group Financial Performance
Group Financial Performance Delivering on our growth strategies NPAT Attributable to Shareholders NPAT EBITDA Revenue $m 2024 2023 % chg. 1 2024 2023 % chg. 1 2024 2023 % chg. 1 2024 2023 % chg. 1 Underlying (excluding NZ IFRS 16) 34.8 19.2 81% 54.1 38.6 40% 79.4 55.9 42% 584.6 565.4 3% NZ IFRS 16 L
Slide 14: Trends in Divisional Underlying EBITDA Performance
Trends in Divisional Underlying EBITDA Performance Global Proteins Horticulture Logistics 14 Scales Corporation Limited – 2025 ASM
Slide 15: Global Proteins – Performance
Global Proteins – Performance Strong result during period of expansion Volumes Sold (MT 000s) Consistent performance by Shelby whilst setting up for the next stage of growth Strong volume growth in New Zealand and the edible proteins business Meateor Australia and Esro Petfood continue to progress t
Slide 16: Horticulture – Performance
Horticulture – Performance Horticulture performance returning to more normal levels Improved apple volumes, quality and average prices Benefitting from Mr Apple’s vertically integrated business model, increased focus on Premium varieties for Asia, India and the Middle East and overall variety mix: I
Slide 17: Horticulture – Forecast Volumes
Horticulture – Forecast Volumes Continuing the growth of Premium varieties Continued focus on Premium varieties, aided by the recent acquisition of additional DazzleTM orchards It is estimated that Premium varieties will account for around 80% of export volumes by 2027 as a result of the acquisition
Slide 18: Logistics – Performance
Logistics – Performance Record Logistics result Increase in both ocean freight and air freight volumes, particularly for external customers: New Auckland warehouse and chiller facility processed strong level of air freight volumes Air freight volumes also positively impacted by a one-off customer pr
Slide 19: Balance Sheet
Balance Sheet A continued strong financial position Net cash in line with prior year, whilst executing on growth transactions Exceeded target Group ROCE Net Cash Reconciliation ($m) $m 2024 2023 Net working capital 34.5 45.5 Non-current assets 435.0 402.0 Capital employed 469.5 447.5 Non-current & o
Slide 20: Sustainability Update
Sustainability Update Progressing our Sustainability goals Governance Published our 2nd Climate Related Disclosure report in April 2025 (https://scalescorporation.co.nz/sustainability/) People Dedicated focus on developing and retaining identified high performing / high potential staff to ensure we
Slide 21: Transactions Update and Outlook
Transactions Update and Outlook Riverslea DazzleTM orchard at sunrise
Slide 22: Transactions Update
Transactions Update Bostock transaction contributing in line with expectations Profruit started with a very strong year in 2024. Shipping has transitioned to Scales Logistics Craigmore Sustainables transaction assisted with maximising return on capital in the Horticulture division Meateor Australia
Slide 23: 2025 Trading Update and Outlook
2025 Trading Update and Outlook As released to the market earlier today, Directors have upgraded the Guidance range of Underlying Net Profit after Tax Attributable to Shareholders to between $40.0 million and $45.0 million The Group has seen a strong 1H25, particularly in the Horticulture division G
Slide 24: Ordinary Resolutions
03. Ordinary Inside Esro’s new processing facility Resolutions
Slide 25: Resolution 1
Resolution 1 That the Board is authorised to fix the auditor’s remuneration for the coming year 25 Scales Corporation Limited – 2025 ASM
Slide 26: Resolution 2
Resolution 2 That Andrew (Andy) Borland, who retires and is eligible for election, be re-elected as a Director of Scales Andy’s current external roles include: Chair of Primary Collaboration New Zealand Limited and Primary Collaboration New Zealand (Shanghai) Co. Limited 26 Scales Corporation Limite
Slide 27: Resolution 3
Resolution 3 That Alan Isaac, who retires and is eligible for election, be re-elected as a Director of Scales Alan’s current external roles include: Chair of the Basin Reserve Trust Chair of the New Zealand Community Trust Director of Oceania Healthcare (NZ) Limited Director of Skellerup Holdings Li
Slide 28: Resolution 4
Resolution 4 That the total annual remuneration available to be paid to Directors for their services as Directors be revised to $625,000 per annum effective from the close of the Annual Meeting, with such sum to be divided amongst the Directors as the Board may from time to time determine 28 Scales
Slide 29: Voting and Questions
04. Voting and Profruit’s processing facility Questions
Slide 30: How to Participate in Virtual / Hybrid Meetings and Vote
How to Participate in Virtual / Hybrid Meetings and Vote Shareholder & Proxyholder Voting Shareholder & Proxyholder Voting Once the voting has been opened, the resolutions and voting options will allow voting To vote, simply click on the Vote tab and select your voting direction from the options sho
Slide 31: How to Participate in Virtual / Hybrid Meetings and ask a Question
How to Participate in Virtual / Hybrid Meetings and ask a Question Shareholder & Proxyholder Q&A Participation Online Questions If you have a question to submit during the live meeting, please select the Q&A tab on the right half of your screen at anytime Type your question into the field and press
Slide 32: Scales Corporation Limited 2025 Annual Shareholders' Meeting
Scales Corporation Limited 2025 Annual Shareholders’ Meeting
Slide 33: Disclaimer
Disclaimer The information in this presentation has been prepared by Scales Corporation Limited with due care and attention. However, neither Scales Corporation Limited nor any of its directors, employees, shareholders nor any other person shall have any liability whatsoever to any person for any lo