Upcoming Dividend • Mar 15
Upcoming dividend of NZ$0.29 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 15 April 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of New Zealander dividend payers (6.0%). Higher than average of industry peers (5.7%). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: NZ$0.76 (vs NZ$0.21 in FY 2024) Full year 2025 results: EPS: NZ$0.76 (up from NZ$0.21 in FY 2024). Revenue: NZ$439.6m (up 6.9% from FY 2024). Net income: NZ$32.0m (up 265% from FY 2024). Profit margin: 7.3% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 01
Dividend of NZ$0.29 announced Shareholders will receive a dividend of NZ$0.29. Ex-date: 19th March 2026 Payment date: 15th April 2026 Dividend yield will be 11%, which is lower than the industry average of 19%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 05
Seeka Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Seeka Limited announced that they will report fiscal year 2025 results at 9:00 AM, NZST - New Zealand Standard on Feb 27, 2026 New Risk • Jan 16
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 7.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks High level of debt (44% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jan 13
Seeka Limited, Annual General Meeting, Apr 15, 2026 Seeka Limited, Annual General Meeting, Apr 15, 2026. Upcoming Dividend • Dec 11
Upcoming dividend of NZ$0.12 per share Eligible shareholders must have bought the stock before 18 December 2025. Payment date: 19 January 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of New Zealander dividend payers (5.6%). Lower than average of industry peers (6.0%). Declared Dividend • Oct 19
Dividend of NZ$0.12 announced Shareholders will receive a dividend of NZ$0.12. Ex-date: 18th December 2025 Payment date: 19th January 2026 Dividend yield will be 7.6%, which is lower than the industry average of 19%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 8.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 10
Upcoming dividend of NZ$0.18 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of New Zealander dividend payers (5.4%). Lower than average of industry peers (6.5%). Reported Earnings • Aug 21
First half 2025 earnings released: EPS: NZ$0.90 (vs NZ$0.41 in 1H 2024) First half 2025 results: EPS: NZ$0.90 (up from NZ$0.41 in 1H 2024). Revenue: NZ$307.9m (up 8.3% from 1H 2024). Net income: NZ$37.8m (up 122% from 1H 2024). Profit margin: 12% (up from 6.0% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jul 18
Seeka Limited to Report First Half, 2025 Results on Aug 20, 2025 Seeka Limited announced that they will report first half, 2025 results on Aug 20, 2025 New Risk • Jul 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NZ$165.9m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NZ$165.9m market cap, or US$99.5m). Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NZ$3.97, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 18x in the Food industry in New Zealand. Total loss to shareholders of 19% over the past three years. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NZ$144.6m market cap, or US$81.6m). Upcoming Dividend • Mar 12
Upcoming dividend of NZ$0.059 per share Eligible shareholders must have bought the stock before 19 March 2025. Payment date: 15 April 2025. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of New Zealander dividend payers (6.2%). Lower than average of industry peers (6.6%). Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: NZ$0.21 (vs NZ$0.34 loss in FY 2023) Full year 2024 results: EPS: NZ$0.21 (up from NZ$0.34 loss in FY 2023). Revenue: NZ$411.4m (up 37% from FY 2023). Net income: NZ$8.75m (up NZ$23.2m from FY 2023). Profit margin: 2.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Feb 27
Seeka Limited announces Annual dividend, payable on April 15, 2025 Seeka Limited announced Annual dividend of NZD 0.0500 per share payable on April 15, 2025, ex-date on March 19, 2025 and record date on March 20, 2025. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Hayley Gourley was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 30
Seeka Limited to Report Fiscal Year 2024 Results on Feb 27, 2025 Seeka Limited announced that they will report fiscal year 2024 results at 9:00 AM, NZT - New Zealand on Feb 27, 2025 Announcement • Jan 14
Seeka Limited, Annual General Meeting, Apr 16, 2025 Seeka Limited, Annual General Meeting, Apr 16, 2025. Upcoming Dividend • Dec 12
Upcoming dividend of NZ$0.12 per share Eligible shareholders must have bought the stock before 19 December 2024. Payment date: 20 January 2025. The company last paid an ordinary dividend in February 2014. The average dividend yield among industry peers is 7.8%. Announcement • Sep 16
Seeka Limited, Annual General Meeting, Oct 16, 2024 Seeka Limited, Annual General Meeting, Oct 16, 2024. Location: seeka 360, 34 young road, te puke 3189, New Zealand Reported Earnings • Aug 26
First half 2024 earnings released: EPS: NZ$0.41 (vs NZ$0.25 in 1H 2023) First half 2024 results: EPS: NZ$0.41 (up from NZ$0.25 in 1H 2023). Revenue: NZ$284.2m (up 34% from 1H 2023). Net income: NZ$17.1m (up 63% from 1H 2023). Profit margin: 6.0% (up from 4.9% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Food industry in New Zealand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 23
Price target increased by 8.7% to NZ$2.50 Up from NZ$2.30, the current price target is provided by 1 analyst. New target price is 11% below last closing price of NZ$2.80. Stock is up 6.1% over the past year. The company posted a net loss per share of NZ$0.34 last year. Announcement • Jul 30
Seeka Limited to Report First Half, 2024 Results on Aug 22, 2024 Seeka Limited announced that they will report first half, 2024 results on Aug 22, 2024 New Risk • May 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.5% operating cash flow to total debt). Minor Risks Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (NZ$99.8m market cap, or US$60.9m). New Risk • May 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.5% operating cash flow to total debt). Minor Risks Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (NZ$116.8m market cap, or US$70.1m). Reported Earnings • Feb 29
Full year 2023 earnings released: NZ$0.34 loss per share (vs NZ$0.16 profit in FY 2022) Full year 2023 results: NZ$0.34 loss per share (down from NZ$0.16 profit in FY 2022). Revenue: NZ$300.9m (down 14% from FY 2022). Net loss: NZ$14.5m (down 322% from profit in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Food industry in New Zealand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Feb 09
Seeka Limited to Report Fiscal Year 2023 Results on Feb 28, 2024 Seeka Limited announced that they will report fiscal year 2023 results at 9:00 AM, NZT - New Zealand on Feb 28, 2024 New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (NZ$110.2m market cap, or US$67.4m). Market cap is less than US$100m (NZ$110.2m market cap, or US$67.4m). Announcement • Jan 17
Seeka Limited, Annual General Meeting, Apr 18, 2024 Seeka Limited, Annual General Meeting, Apr 18, 2024. Announcement • Sep 21
Seeka Limited, Annual General Meeting, Oct 19, 2023 Seeka Limited, Annual General Meeting, Oct 19, 2023, at 15:00 NZST - New Zealand Standard. Location: Seeka 360, 34 Young Road, Te Puke 3153 Te Puke New Zealand Agenda: To present Seeka's interim financial results for the six months to June 2023, and update stakeholders on Seeka's operations. Reported Earnings • Aug 24
First half 2023 earnings released: EPS: NZ$0.25 (vs NZ$0.52 in 1H 2022) First half 2023 results: EPS: NZ$0.25 (down from NZ$0.52 in 1H 2022). Revenue: NZ$212.7m (down 14% from 1H 2022). Net income: NZ$10.5m (down 51% from 1H 2022). Profit margin: 4.9% (down from 8.7% in 1H 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Food industry in New Zealand. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Aug 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NZ$108.1m market cap, or US$64.1m). Announcement • Jul 26
Seeka Limited to Report First Half, 2023 Results on Aug 23, 2023 Seeka Limited announced that they will report first half, 2023 results on Aug 23, 2023 Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NZ$2.65, the stock trades at a trailing P/E ratio of 16.9x. Average forward P/E is 21x in the Food industry in New Zealand. Total loss to shareholders of 25% over the past three years. Price Target Changed • Jun 22
Price target decreased by 23% to NZ$2.20 Down from NZ$2.85, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NZ$2.30. Stock is down 52% over the past year. The company is forecast to post a net loss per share of NZ$0.52 compared to earnings per share of NZ$0.16 last year. Buying Opportunity • Jun 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NZ$3.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 8.5%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings is also forecast to grow by 32% per annum over the same time period. Major Estimate Revision • Apr 21
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NZ$349.0m to NZ$304.7m. Forecast loss of -NZ$0.044, down from profit of NZ$0.16 per share profit previously. Food industry in New Zealand expected to see average net income growth of 3.0% next year. Consensus price target down from NZ$3.05 to NZ$2.85. Share price was steady at NZ$2.85 over the past week. Price Target Changed • Mar 02
Price target decreased by 16% to NZ$3.05 Down from NZ$3.65, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NZ$3.01. Stock is down 40% over the past year. The company is forecast to post earnings per share of NZ$0.16 for next year compared to NZ$0.16 last year. Reported Earnings • Feb 24
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: NZ$0.16 (down from NZ$0.43 in FY 2021). Revenue: NZ$348.4m (up 13% from FY 2021). Net income: NZ$6.50m (down 56% from FY 2021). Profit margin: 1.9% (down from 4.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) exceeded analyst estimates by 27%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Food industry in New Zealand. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 10% per year. Announcement • Feb 08
Seeka Limited to Report Q4, 2022 Results on Feb 23, 2023 Seeka Limited announced that they will report Q4, 2022 results on Feb 23, 2023 Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NZ$3.72, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Food industry in New Zealand. Total loss to shareholders of 7.8% over the past three years. Announcement • Jan 19
Seeka Limited Announces Retirement of M Brick as A Director Seeka Limited Announced the Retirement of M Brick as A Director and, has advised that he will not be available for re-election. Announcement • Jan 18
Seeka Limited, Annual General Meeting, Apr 20, 2023 Seeka Limited, Annual General Meeting, Apr 20, 2023. Agenda: To consider that C Tarrant will retire as a Director and, being eligible, has advised that she will be available for re-election; and to consider M Brick will retire as a Director and, has advised that he will not be available for re-election. Major Estimate Revision • Nov 18
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NZ$376.7m to NZ$363.3m. EPS estimate also fell from NZ$0.17 per share to NZ$0.13 per share. Net income forecast to shrink 49% next year vs 9.5% growth forecast for Food industry in New Zealand . Consensus price target down from NZ$3.85 to NZ$3.65. Share price fell 4.4% to NZ$3.49 over the past week. Price Target Changed • Nov 16
Price target decreased to NZ$3.85 Down from NZ$4.85, the current price target is provided by 1 analyst. New target price is 8.5% above last closing price of NZ$3.55. Stock is down 33% over the past year. The company is forecast to post earnings per share of NZ$0.17 for next year compared to NZ$0.43 last year. Major Estimate Revision • Aug 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from NZ$339.1m to NZ$376.7m. EPS estimate reaffirmed at NZ$0.17. Net income forecast to shrink 26% next year vs 35% growth forecast for Food industry in New Zealand . Consensus price target down from NZ$4.85 to NZ$4.40. Share price was steady at NZ$4.16 over the past week. Reported Earnings • Aug 20
First half 2022 earnings released: EPS: NZ$0.52 (vs NZ$0.65 in 1H 2021) First half 2022 results: EPS: NZ$0.52. Revenue: NZ$247.3m (up 10% from 1H 2021). Net income: NZ$21.5m (up 4.3% from 1H 2021). Profit margin: 8.7% (down from 9.2% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 21%, compared to a 17% growth forecast for the Food industry in New Zealand. Announcement • Jul 30
Seeka Limited to Report First Half, 2022 Results on Aug 18, 2022 Seeka Limited announced that they will report first half, 2022 results on Aug 18, 2022 Major Estimate Revision • Jun 24
Consensus revenue estimates fall by 15% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NZ$397.7m to NZ$339.1m. EPS estimate fell from NZ$0.42 to NZ$0.17 per share. Net income forecast to shrink 53% next year vs 17% growth forecast for Food industry in New Zealand . Consensus price target down from NZ$5.35 to NZ$4.85. Share price rose 3.3% to NZ$4.75 over the past week. Price Target Changed • Jun 23
Price target decreased to NZ$4.85 Down from NZ$5.40, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NZ$4.75. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of NZ$0.17 for next year compared to NZ$0.43 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Robert William Farron was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 26
Seeka Limited Approves Election of Stewart Moss as Director Seeka Limited announced that at its AGM held on April 22, 2022, shareholders approved the election of Stewart Moss, who has been nominated for election as a Director by a Shareholder, as a Director. Announcement • Feb 18
Seeka Limited Approves Final Dividend for the Fiscal Year 2021, Payable on February 23, 2022 Seeka Limited's Board approved a final dividend of 13 cents for fiscal year 2021 (fully imputed), to be paid 23 February 2022. Reported Earnings • Feb 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NZ$0.43 (down from NZ$0.52 in FY 2020). Revenue: NZ$309.6m (up 23% from FY 2020). Net income: NZ$14.9m (down 1.9% from FY 2020). Profit margin: 4.8% (down from 6.0% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 32%, compared to a 8.4% growth forecast for the industry in New Zealand. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
Seeka Limited to Report Fiscal Year 2021 Results on Feb 18, 2022 Seeka Limited announced that they will report fiscal year 2021 results at 11:00 AM, NZST - New Zealand Standard on Feb 18, 2022 Recent Insider Transactions • Oct 01
Chief Executive Officer recently bought NZ$54k worth of stock On the 29th of September, Michael Franks bought around 10k shares on-market at roughly NZ$5.39 per share. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of NZ$80k worth in shares. Announcement • Sep 15
Seeka Limited (NZSE:SEK) entered into an amalgamation agreement to acquire Orangewood Limited for NZD 6.55 million Seeka Limited (NZSE:SEK) entered into an amalgamation agreement to acquire Orangewood Limited for NZD 6.55 million on September 14, 2021. Orangewood shareholders are offered 0.6630 new Seeka shares and NZD 1.35 in cash for every Orangewood share. The issue price for each new Seeka share is NZD 5.33 being the volume weighted average price of Seeka shares traded on the NZX Main Board over the 10 business days ended 13 September 2021 (all fractions of Seeka Shares are to be rounded up to the nearest whole number). The amalgamation consideration values Orangewood net assets at $4.71m. Seeka will assume approximately $1.84m of debt as part of the acquisition bringing the total transaction value to NZD 6.55 million. Upcoming Dividend • Sep 10
Upcoming dividend of NZ$0.15 per share Eligible shareholders must have bought the stock before 17 September 2021. Payment date: 13 October 2021. Trailing yield: 4.8%. Within top quartile of New Zealander dividend payers (4.8%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 24
First half 2021 earnings released: EPS NZ$0.65 (vs NZ$0.57 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: NZ$224.5m (up 26% from 1H 2020). Net income: NZ$20.6m (up 12% from 1H 2020). Profit margin: 9.2% (down from 10% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 02
New 90-day high: NZ$4.95 The company is up 21% from its price of NZ$4.08 on 02 December 2020. The New Zealander market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is down 14% over the same period. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NZ$0.52 (vs NZ$0.22 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NZ$251.5m (up 6.2% from FY 2019). Net income: NZ$15.2m (up 120% from FY 2019). Profit margin: 6.0% (up from 2.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) exceeded analyst estimates by 67%. Over the next year, revenue is forecast to grow 15% compared to a 2.1% decline forecast for the Food industry in New Zealand. Announcement • Feb 16
Seeka Limited Announces Settlement of the Kiwifruit Claim Seeka Limited advises that a settlement has been reached in the matter of the Kiwifruit class action against the Crown related to the PSA outbreak in 2010. The settlement sum for the legal, funding and claimants is a total of $40 million inclusive of GST if any. Seeka is a plaintiff in the class action. The process of legal cost recovery, payment to the litigation funding partner and distribution to claimants will now occur. Any distribution to claimants will require the approval of the High Court prior to distribution. Seeka will advise the market in due course of the payment it is to receive, once Seeka's share of the settlement has been determined and approved by the Claims Committee. Seeka would take this time to thank the Claims Committee, legal and other advisers in this matter. Major Estimate Revision • Dec 23
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from NZ$0.19 to NZ$0.31. Revenue estimate for the same period was approximately flat at NZ$278.0m. Net income is expected to shrink by 28% next year compared to 20% decline forecast for the Food industry in New Zealand. The consensus price target increased from NZ$4.15 to NZ$4.65. Share price is up 7.9% to NZ$4.80 over the past week. Is New 90 Day High Low • Dec 16
New 90-day high: NZ$4.45 The company is up 10.0% from its price of NZ$4.05 on 17 September 2020. The New Zealander market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is down 10.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: NZ$4.10 The company is up 1.0% from its price of NZ$4.06 on 01 September 2020. The New Zealander market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is down 10.0% over the same period. 
