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ArborGen Holdings (NZX: ARB)

Last close As at 20/11/2024

NZD0.14

▲ −0.01 (−6.67%)

Market capitalisation

NZD77m

ArborGen Holdings is a New Zealand-listed investment company and is the world’s largest integrated developer, commercial manufacturer and supplier of advanced forestry seedlings, with operations in the United States and Brazil.

Prior to the COVID-19 outbreak, the economic growth outlook in each of its core countries, the United States and Brazil, was either good or improving, according to OECD data. At this point, the primary end-markets served by ArborGen’s plantation forestry customer base were in a positive cyclical phase.

Latest Insights

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Industrials | Update

ArborGen Holdings — Mixed trading, but solid long-term growth outlook

Industrials | Outlook

ArborGen Holdings — Green shoots appear in the spring

Industrials | Update

ArborGen Holdings — Seedling supplier’s long-term future looks green

Industrials | Update

ArborGen Holdings — Shifting focus to US South and Brazil
forestry04
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Sector

Industrials

Equity Analyst

Andy Murphy

Andy Murphy

Director, Financials & Industrials

Key Management

  • Christina M Green

    CFO

  • Dave Knott, Jr

    Chairman

  • Justin Birch

    President and CEO

Balance Sheet

Forecast net debt (US$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 5.1 0.7 (19.4)
Relative 5.9 0.6 (26.9)
52 week high/low 0.2/0.1

Financials

ArborGen’s FY24 results highlighted contrasting trading conditions, with challenges in the US offset by a strong performance from Brazil. However, despite the short-term issues, ArborGen remains in prime position to address increasing demand for its seedlings and to continue investment in genetic improvement to drive the switch to sales of higher-value, higher-margin seedlings in both markets. Our forecasts are under review following the FY24 results, an update on hurricane damage and the acquisition of a nursery in Brazil. We will update our valuation in due course.

Y/E Mar Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2023A 56.1 9.2 0.3 (0.61) N/A 19.1
2024A 67.7 12.8 3.1 0.88 9.5 3.6
2025E N/A N/A N/A N/A N/A N/A
2026E N/A N/A N/A N/A N/A N/A

Research

forestry04

Outlook

Industrials

ArborGen Holdings — Green shoots appear in the spring

Update

Industrials

ArborGen Holdings — Seedling supplier’s long-term future looks green
forestry04

Industrials

Update

ArborGen Holdings — Mixed trading, but solid long-term growth outlook

forestry04

Update

Industrials

ArborGen Holdings — Shifting focus to US South and Brazil

Update

Industrials

ArborGen Holdings — Favourable balance of risk

Update

Industrials

ArborGen Holdings — US sales slow in H221, positive outlook remains
forestry04

Update

Industrials

ArborGen Holdings — Key US market unaffected by COVID-19 thus far

Update

Industrials

ArborGen Holdings — Positive actions sustaining EBIT progress

Update

Industrials

Rubicon — Growth to come after FY19 challenges

Update

Industrials

Rubicon — Well-positioned going into H2

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Rubicon — Pure play, clear focus

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