Edison Investment Research - Arborgen Holdings (ARB) ArborGen Holdings - US sales slow in H221, positive outlook remains

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Edison Investment Research

Toby Thorrington

ArborGen Holdings - US sales slow in H221, positive outlook remains

ArborGen’s underlying H1 trading performance was robust, although the H2 US selling season has been slower than previously anticipated. Our headline FY21 PBT estimate is reduced by c 1% (or c 30% underlying before COVID-19 employment support monies) with no material change for FY22. An increase in supply of higher-value seedlings in the US remains on track and is expected to drive group earnings higher from FY22.

21/01/2021 1 EN

Underlying

Arborgen Holdings

Rubicon is a holding company. Through its subsidiaries and associate, Co. is engaged in funding, distribution and processing of forestry biotechnology. Co. operates in two business segments: Appearance and Wood Products, and Biotechnology.

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NZRBCE0001S3 NZX New Zealand

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Toby Thorrington

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ArborGen Holdings - US sales slow in H221, positive outlook remains

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

ArborGen Holdings (ARB): Green shoots appear in the spring

Freelancer (FLN): Building the Amazon of services

Card Factory - Confident on FY25 outlook

Immix Biopharma - US CAR-T trial progresses to dose expansion

Helios Underwriting - Strategic shift from growth to consolidation

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