Guidance Update – Lower Debt, Earnings at Top of Range

Guidance Update – Lower Debt, Earnings at Top of Range
9 April 2024 - ArborGen Holdings Limited (NZX: ARB) (ArborGen or the Company) advises that, based
on unaudited preliminary management accounts, its net debt as at 31 March 2024 is now expected
to be 25% to 35% lower than previously advised. Previously guidance was for net debt of $18.3m to
$19.3m. The company now expects this to be between $14.5m to $15.0m
1
.
ArborGen also advises that Adjusted US GAAP EBITDA
2
is expected to be at the upper end of
guidance provided in November 2023 of $11.6m to $12.6m. All dollar values are in US currency.
The key drivers in the reduction of net debt are favourable working capital movements, reduced
nursery and orchard costs, and some capital expenditure items being delayed into the new financial
year.
Trading has continued in line with expectations, with record sales, pricing and margins in Brazil. A
solid performance is expected in the US, where strong pricing and margins have been maintained
helping to offset subdued seedling sales.
ENDS
Authority for this announcement: Justin Birch, President and CEO, ArborGen Holdings Limited
For more information, please contact: Jackie Ellis, Ellis and Co
e: jackie@ellisandco.co.nz, t: +64 27 2462505
http://www.arborgenholdings.com or email info@arborgenholdings.com


ArborGen
ArborGen is the largest commercial global seedling supplier and a leading provider of advanced
genetics, for the forest industry. Employing state-of-the-art technology, ArborGen is developing high-
value products that significantly improve the productivity of a given acre of land by enabling our
customers to grow trees that yield more wood per acre with greater consistency and quality in a
shorter period of time. For more information, please visit ArborGen’s website at www.arborgen.com

1
Net debt excludes capital leases
2
Adjusted US GAAP EBITDA is a non-GAAP financial measure and excludes one-off and unusual items which
may include restructure costs, impairments and write downs on assets, acquisition/sale transaction costs and
other one-off items. Additionally, management believes this measure provides useful information, as it is used
internally to evaluate performance, and it is also a measure that equity analysts focus on for comparative
company performance purpose.