PGW Guidance Update

PGG Wrightson Ltd | NZX Announcement 1

21 JULY 2021
PGG Wrightson Guidance
Update

PGG Wrightson Limited* (PGW) today announced that following strong trading over the second half of
the fiscal year it expects its full year to 30 June 2021 Operating EBITDA** to be around $56 million.
Shareholders should note that PGW has changed its accounting policy to align with the recent
International Financial Reporting Standard interpretation guidance on Software as a Service (SaaS).
This change results in the reclassification of SaaS costs from amortisation to operating expenses
reducing Operating EBITDA by circa $2 million. This change is included in the updated guidance and
has no impact to EBIT***.
PGW Chairman, Rodger Finlay said that “it was pleasing to be able to report that PGW has continued
to perform strongly over the second half of the year following an exceptionally good first half. The Board
is delighted with how the business is performing and is confident that PGW is well placed to be able to
sustain such performance based upon the sound market fundamentals for New Zealand growers and
primary producers.”
“The team at PGW are passionate about the sector and proud of the contribution PGW makes to the
ongoing successes of its farming and horticultural customers.”
“Our annual results remain subject to audit and we will release these together with our dividend
announcement on 17 August 2021and will be in a position to comment in more detail about our trading
performance at that time.”

Ends

All media enquiries to:
Julian Daly
General Manager Corporate Affairs
PGG Wrightson Limited
Mobile: +64 275533373

*All references to PGG Wrightson Limited or the Group refer to the Company, its subsidiaries and interests in associates and
jointly controlled entities.
**Operating EBITDA: Earnings before net interest and finance costs, income tax, depreciation, amortisation, the results from
discontinued operations, fair value adjustments and non-operating items.
***EBIT represents earnings before net interest and finance costs, income tax and the results from discontinued operations.
PGW has used non-GAAP profit measures when discussing financial performance in this document. Please refer to our full
accounts for details of how Operating EBITDA relates to GAAP. For a comprehensive discussion on the use of non-GAAP profit
measures, please refer to the policy “Non-GAAP Accounting Information” available on our website www.pggwrightson.co.nz