The shares were listed in July 1997 following an "in specie" share distribution to shareholders of formerly listed Donaghys. It is a high technology engineering company, which specialises in the design and build of automated lines for the international appliance industry.
Virtually all sales are from exports, with principal markets in the USA, Central and South America, Europe, and Australia, with recent successes also in China, Mexico and Canada. Recent developments have been an alliance with high technology engineering group Modular Automation of the UK (1999), which strengthens the company's marketing and after sales services in Europe, formation of Dunedin-based Scott Automation (2001) to focus on local non-appliance industries, a partnership with KUKU Robotics of Germany (2001), which was designed to assist with developing applications of automation for industry outside of appliances, and acquisition of CBS Engineering Ltd, an Auckland based automation and materials handling company (2002).
In 2003 the company established a representative office in Shanghai. In 2006 it sold its Auckland division, Package Handling Systems.
SCT announced on 26 May 2008 that it had completed the acquisition of Auckland based manufacturer, Rocklabs Ltd. The remaining conditions of sale are expected to be satisfied in June. Rocklabs makes mechanised and automated sample preparation equipment and supplies gold reference materials to the mining industry.
The following information was extracted from Scott Technology Limited's half year results, released on 16 April 2025:
Financial Highlights:
Financial Performance Overview:
Revenue for HY25 declined -14% year-on-year to $122 million, driven by a challenging economic landscape and subdued order intake throughout FY24. Despite this environment, forward work remains robust at $165 million, supported by a targeted approach to high-margin opportunities and securing recent wins that provide momentum for the second half.
Group margin expanded to 29%, representing a notable +270bps improvement, driven by Scott Technology’s strategic focus on profitable projects and service mix. The decline in revenue, however, has led to operating EBITDA of $12.2 million, a decrease of -27% from pcp. Cost controls are in place to manage overheads while carefully investing in foundational elements like a new Enterprise Resource Planning (ERP) system in Europe to support future growth. Net profit after tax was at $4.3 million, remaining relatively flat compared to pcp as reduced EBITDA was offset by lower amortisation, interest and tax. The prior period also included non-recurring costs for the strategic review.
Operating cash flow rebounded positively to $14.5 million, driven by securing key new projects, effective working capital management and disciplined cost control, facilitating a -35% reduction in net debt to $13.2 million. Investments were directed towards regional plant upgrades and strategic asset developments.
Considering current market conditions, the Board has declared an unimputed interim dividend of 3 cents per share, payable on 21 May 2025, with shareholders able to participate in the Dividend Reinvestment Plan (DRP).
Disclaimer: This section is provided as general information only. It is not intended as a substitute for legal or professional advice to company directors and officers or investors. NZX Limited disclaims any liability arising from the use of this information.