2024 Half Year Announcement

16 April 2024
Company Announcement


SCOTT TECHNOLOGY ANNOUNCES FY24 HALF-YEAR RESULTS

• Dedication to Scott 2025 strategy enabled delivery of sustainable growth, and achievements
across the business see strategy extended out to 2027.
• Group revenue is up 11% to $141m, margins maintained at 26% with a focus on both core and
service, supported by improved delivery of rest of business.
• Sales and service in Scott’s three core sectors delivered 85% (+8ps) of group revenue.
• Operating EBITDA increased 14% to $17m, outpacing revenue growth.
• Net profit after tax was down 42% to $4.5m due to one-off strategic review costs, higher
lease and financing costs.
• Forward work of $161m remains positive, comprising of MHL, minerals, protein orders and
service agreements.
• An interim dividend of 5 cents per share was declared, up from 4 cents in H1 F23.
Automation and robotic solutions provider, Scott Technology Limited (NZX: SCT), has today released
its results for the six months to 29 February 2024 (H1 F24).
Dedication to the Engineering Scott to High Performance (Scott 2027) strategy, which emphasises core
sectors and productisation, has enabled Scott to deliver sustainable growth and continued leadership
across protein, materials handling (MHL) and minerals sectors.
The Scott 2027 strategy has continued to underpin the business’ focus and investment in the growth
of its three core sectors with revenue up 11% to $141m and operating EBITDA up 14% to $17m.
The business’ sales pipeline remains positive and on strategy, with $161m in forward work comprising
of MHL projects, continued strong minerals and protein product orders, as well as significant progress
in secured service contracts.
Scott Technology CEO, John Kippenberger, says he’s pleased with the business’ solid H1 performance.
“With our emphasis on building a more sales-oriented organisation, and growing and investing in our
teams, we are well positioned for continued success in the dynamic global markets.
“Our unwavering commitment to operational excellence is bolstered by investing in productisation
and leading innovation. This ensures we harness the current momentum for continued success as we
lean into 2025 and beyond,” says Kippenberger.

ESG update
The momentum driving Scott's ESG strategy has continued during H1 F24, marked by robust
engagement across all levels of the organisation and support from the Board and Executive
leadership. Significant strides have been made across each of the three pillars of Scott’s ESG
commitment as the business remains steadfast in its dedication to leading a sustainable future.
Scott has now formalised its ESG governance structure, progressed carbon reduction programs, and
witnessed a positive uptick in engagement scores from teams worldwide following the bolstering of
its awards and recognition programs. Its approach extends to actively engaging with suppliers, and
supporting customers' sustainability goals, reflecting Scott’s commitment to fostering environmental
stewardship and social responsibility.
People
Employee health, safety and well-being remain the highest priority, and good progress has been
made in all the key metrics in H1 F24. Improvement in lead indicators, including strengthened hazard
reporting, has significantly decreased the Lost Time Injury Frequency Rate (LTIR) and Total
Recordable Injury Frequency Rate (TRIFR). Following the launch of the Critical Risk program in
November, Scott is poised to begin global critical risk workshops in its 2024 focus areas, Mobile Plant
and Potential Energy.
The recent employee engagement survey results saw Scott's highest-ever level of participation of
80%, coupled with the highest-ever employee engagement score of 85%. Employee retention
remains high, and turnover rates reduced on H1 F23, from 7% to 3%.
Results overview

Results Snapshot
$M
H1 F24 H1 F23 var %
Revenue 140.9 126.5 11%
Operating EBITDA 16.6 14.6 14%
Non-recurring adjustments
1
(2.4) - -
EBITDA 14.1 14.6 (3%)
Net Profit After Tax 4.5 7.8 (42%)
Dividend per share (cents, declared) 5.0 4.0 25%
Net Cash / (Debt) (20.7) 12.8 (262%)
Operating Cash Flow (7.7) 26.0 (130%)
1
Strategic review costs

Revenue for H1 F24 increased 11% on the prior comparative period (pcp) to $140.9m, as Scott’s
strategy of generating more revenue from repeatable core products and services along with growing
MHL and protein solutions in North America continued to deliver sales growth.
The group margin of 26% was maintained, despite the sales mix reflecting several lower margin, high
value MHL and minerals solutions.
This strategic revenue and margin approach has resulted in operating EBITDA growth of 14% to
$16.6m for the period.
Net profit after tax (NPAT) of $4.5m for the period (-42% on pcp) reduced due to the one-off costs of

$2.4m associated with the strategic review; increased IFRS16 amortisation costs (+$1.3m) in relation
to new leased premises; increased financing costs (+$0.9m) in relation to higher effective interest
rates on term debt; and an increase in IFRS16 interest (+$0.3m) associated with the expanded
footprint for Minerals and MHL businesses.
Operating cash outflow of $7.7m was due to timing associated with a number of significant projects
currently underway with cash due to be received in arrears compared with pcp where a number of
significant projects had received deposits in advance. Cash has also been applied to footprint
expansion and other capital investments. This has resulted in the Group’s net debt position of
$20.7m.
In recognition of the ongoing progress made by the company, the Directors declared a (partially
imputed) dividend of 5.0 cents per share, payable on 15 May. The Dividend Reinvestment Plan will
apply.
Core sectors
Results Snapshot
$M

Revenue
H1 F24
Margin

%
H1 F23
Revenue Margin %
Protein 31.3 9.9 32% 34.4 12.2 36%
Minerals 25.6 8.7 34% 16.8 7.7 46%
Materials Handling & Logistics 62.7 12.1 19% 46.5 10.4 22%
Core Business 119.7 30.7 26% 97.7 30.2 31%
Rest Of Business 21.2 6.3 30% 28.8 2.6 9%
Total 140.9 37.0 26% 126.5 32.8 26%

The Scott 2027 strategy continues to emphasize the imperative of growing sales through product
areas where Scott has established world-leading technology and away from the more bespoke
design projects which are unproven and present higher risk to the business.
This focus has seen core sector revenue grow by 22% in the period and move from 77% to 85% of total
group revenue.
Materials handling and logistics (MHL)
• This sector largely comprises conveyors, automated palletizing and sortation equipment
used in the warehousing operations of large food manufacturers and related industries.
Customers include industry leaders such as Danone, Pfizer and McCain Foods.
• Revenue grew at 35% on pcp due to completion of the ASRS system for Alliance NZ, and
progress made with JBS Brooks and McCain Canada, alongside continued strong growth in the
existing Europe market.
• MHL continues to maintain a significant forward order book of $113m which includes an
installation at Clarebout’s new facility in France, an installation at McCain Netherlands new
AGV (Autonomous Guided Vehicle) business in North America with Logan Aluminum and
long-term customer Bridgestone.
• Scott is currently developing a modular AGV solution for the growing AGV market in North
America. A standardised offer of vehicles with a range of attachments is being developed
with a prototype being available during H2 F24.

Minerals
• Anchored off strong and reliable Rocklabs sample preparation sales, the mining sector
continues to be a core part of the Scott group. These products are well proven in the large
global mining sector and produce high margins.
• Scott’s minerals business has delivered significant growth of 53% compared to pcp largely
driven by Rocklabs automated solution for Mineral Resources Ltd and the automated energy
transfer system (AETS) for Caterpillar.
• Although revenue increased by 53%, the shift in the mineral's product mix towards these new
solutions resulted in a lower margin, from 46% to 34%.

• The launch of AMS has seen strong market engagement with several of the world’s largest
mining companies trialing the demonstration unit with positive results.
• A renewed focus on product development will position the minerals business to expand into
untapped markets in coming years.
Protein
• This sector largely comprises meat processing equipment which operates in the secondary
processing operations of the large meat processors and related industries.
• While the period included the successful commissioning of the Silver Fern Farms Primal
solutions and repeat trussing units from Costco, protein revenue declined 9% on pcp,
impacted by global pressure on red meat reduces customer demand and meat processors
investments.
• Despite those challenges, protein service revenue grew 39% on pcp due to the increased
equipment installation base and a focus on securing long term service and maintenance
agreements.
• The pipeline conversion for protein products has slowed for the reasons outlined above.
Despite this, several long-term Australasian customers have signed up to long term service
agreements worth over $10m.
• The successful installation of the first two Poultry Trussing lines into US retailer CostCo is
opening up this channel with industry-leading companies looking to secure a safer,
automated poultry trussing line. Other poultry prospects have shown a significant amount of
Positive progress continues in the development of the world’s first fully-automated beef
boning solution, with first beef chine modules prototype underway at JBS Brooklyn.
• Early-stage progress has been made on the lamb frenching automation which will increase
yield and product quality while addressing labour challenges. This product is being
developed in association with our partners Robotic Technologies and Meat & Livestock
Australia.

Service and aftermarket business
Scott’s strategy of building its service and aftermarket business has been important for customers,
maintaining Scott machine accuracy and reliability, and for shareholders as it provides important
recurring revenue and lucrative margins.
The service business underpinning the core business segments saw strong growth of 13% in the
period.
We have seen this important stream continuing to deliver sustainable profit growth as our customers
look to the specialist skills of Scott technicians to support their own maintenance teams, on Scott’s
highly specialised equipment.
The service business also contains a strong stream of high margin recurring consumables.
This growth is evident in the protein sector where service revenue grew 39% on pcp. The 2-year CAGR
on protein service is 47% (H1 F22 to H1 F24) which follows protein equipment sales of 46% for the
previous two years (H1 F21 to H1 F23). The service lag contributes to growth, especially during cyclical
times, such as the current red meat headwinds, where equipment sales soften.
Service revenue also grew across the total group (including non-core business) by 10% and continued
to deliver strong margins of 35%. This demonstrates the importance of the service / aftermarket
business to the overall performance and profitability of Scott.
Regional business update

Results Snapshot
$M

Revenue
H1 F24
Margin

%
H1 F23
Revenue Margin %
New Zealand 9.7 3.1 32% 11.0 2.9 26%
Australia 23.3 5.5 24% 20.3 6.0 30%
Europe 44.3 12.2 25% 41.9 10.3 25%
North America 51.0 12.1 28% 45.6 11.0 24%
China (+RoW) 12.6 4.1 33% 7.8 2.7 34%
Total 140.9 37.0 26% 126.5 32.8 26%

• New Zealand revenue reduced as the Alliance palletisation and Silver Fern Farms lamb
boning room were commissioned. A focus on service resulted in a revenue increase of 29%
on pcp.

• Australia income increased considerably based on the mineral AMS solution being produced
for Mineral Resources. The aftermarket business grew by 11% on increased protein
installation-base.

• Coming off the back of a strong prior period for BladeStop saw protein decline in Europe.
However, the region delivered significant and continued growth in MHL, resulting in an
increase of 15% in core revenue. The intentional contraction of the appliance sector resulted
in total lower growth for the period.

• In North America the CostCo Poultry Trussing lines (protein), CAT energise solution
(minerals), and JBS Brooks and McCain Canada (MHL) gave a strong presence for Scott as the
North American MHL market is opened up.

• China and Rest of the World has seen growth in the minerals business through a solid
account management focus working with agents in those areas.


ENDS


For more information, visit www.scottautomation.com or contact:
John Kippenberger Media and investor contact:
Chief Executive Officer, Scott Technology Amber McEwen

T: +64 21 964 045 T: +64 21 194 0429
E: j.kippenberger@scottautomation.com E: amber.mcewen@grcpn.nz

About Scott
Scott delivers smart automation and robotic solutions that transform industries by making businesses
safer, more productive, and more efficient. Our diverse capability makes us the first choice for
hundreds of the world’s leading brands. With design and build operations across Australasia, China,
Europe, and America and over 100 years of engineering excellence, Scott is the global expert in
automation.
Scottautomation.com

---

1
H1 F24
HALF YEAR
RESULTS
SCOTT TECHNOLOGY LIMITED
April 2024

H1 F24 Half Year Results
H1 F24 Performance
3
H1 F24 Strategy & Sector Performance
8
Sustainability, People & Planet
19
Closing Comments
21
John Kippenberger
Chief Executive Officer
Casey Jenkins
Group GM – People, ESG, Marketing
President Scott Mining
Aaron Vanwalleghem
Interim Chief Executive Officer
President Europe & North America
Anthony Wesney
Interim Co-Chief Financial Officer
“With our emphasis on building a more sales-oriented organisation,
and growing and investing in our teams, we are well positioned for
continued success in the dynamic global markets.“

H1 F24
PERFORMANCE

1
Strong performance across core business as demand for automation
remains a priority for customers globally, despite challenging
headwinds in protein industries and minerals industries.
Group revenue was up 11% to $141m, margins maintained at 26%
with a strong focus on MHL, Minerals and Service delivery.
2
Operating EBITDA increased 14% to $16.6m outpacing the growth
in Revenue.
3
New facility and capital investments across the business, including
Czech Republic (MHL) and Rocklabs(Minerals) to support future Core
revenue growth.
4
Forward work remains ahead of expectation, $161m comprising of
strong MHL, minerals and protein orders and service agreements.
5
Scott have made a positive gains in ESG by formalizing ESG
governance structure, progressing carbon reduction programs, and
seen a positive uptick in engagement scores from teams worldwide
as we bolster awards and recognition programs.
Proactive safety culture continues to deliver excellence across Lead
and Lag Indicators, LTIFR halved on H1 F23.
6
The Directors have recommended an interim dividend of 5.0 cents.
The Dividend Reinvestment Plan will apply.
H1 F24 Trading Update

$141M
85%
1.Forward Work represents contracted
activity. It is not an indicator of revenue
over a set period of time.
2.Underlying Earnings Per Share excludes
non-recurring costs
H1 F24 5.0 | H1 F23 4.0
H1 F24 8.5 | H1 F23 9.8
$135M
SALES
SERVICES
$26M
26%
H1 F23 $127M +11%
H1 F22 $114M +11%
H1 F23 26%
H1 F22 29%
H1 F23 77% + 8 BPS
H1 F22 66% +11 BPS
H1 F23 $165M -18%
H1 F22 $122M +35%
H1 F23 $19M +35%
H1 F22 $10M +90%
H1 F24 Performance Snapshot
Dividends Per Share (Cents)
Core Revenue ContributionForward Work
1
Group Margin Performance
H1 F24 Revenue
Underlying Earnings Per Share (Cents)
2
$17M
H1 F23 $15M +14%
H1 F22 $12M +20%
Operating EBITDA

7.8
+2.0 (1.6)
(0.7)
(0.9)
+0.3
6.9 (2.4)
4.5
NPAT
H1 F23
Operating
EBITDA
New Leas e
Amortisation
& Interest
Cap ital
Investment
Depreciation
Bank
Interest
TaxUnderlying
NPAT
H1 F24
Non-recurring
Costs
NPAT
H1 F24
Net Profit After Tax
NPAT reflects investment in future growth
Underlying EPS from 9.8 to 8.5 cents per share
Timing of cash inflows sees Net Debt return to typical
funding position
•H1 F23 cash position was higher due to timing of cash receipts from significant
projects in advance. This is reflected in the net movement of Contract Assets and
Liabilities at H1 F24 of $22.1m on pcp.
•H1 F24 overdraft returns to a more typical level, allowing for footprint expansion,
other capital investments and financing activities.
•This includes the full dividend payment in November 2023, where the dividend
reinvestment plan did not apply.
•This funding of Investment positions Scott for sustained growth in new markets
and products.
+25.1
(7.4)
(11.6)
(12.4)
(13.3)
(12.9)
+12.8
(20.7)
H1 F22H1 F23H1 F24
Net Cash (Debt)
Cash + ODTerm Debt
Footprint expansion results in Net Profit After Tax
reduction of $3.3m
•Operating EBITDA is $16.6m or 12% of revenue, up 14% on pcp.
•New lease facilities across the business ($1.6m), including Czech Republic
(MHL) and Rocklabs (Minerals) to support future Core revenue growth.
•Capital investment depreciation of $0.7m for new fabrication assembly
equipment and new premises fit-out.
•Bank Interest includes higher effective rates and return to a net debt position.
•Non-recurring costs related to the strategic review carried out in 2023.
Net Profit After Tax (NPAT)
Net Cash (Debt)

Proactive safety culture delivers excellence
LTI
MTI
First Aid Injuries
EP&D
/ Near Miss
Hazards Reported
Management Conversations
H1 F23
Fatality
H1 F24
0
0
1
30
21
468
115
0
3
0
11
14
522
90
Great start to FY24 as safety culture excels in Lead & Lag Indicators
•Notably, LTIFR (Lost Time Injury Frequency Rate) continued a downward trend; LTIFR
of 1.76 compared to 3.5 in H1 F23 and 4.54 at August 2023. This improvement is
underpinned by continued engagement with BeScott Safety App and an excellent
commitment from management teams.
•In November we held our 3
rd
Annual Stop for Safety, celebrated
withglobal safety awards recognising National SafeMate
winners and 2023 Outstanding Site Performance, Rocklabs.
•ISO 45001: Occupational health and safety management systems
recertification achieved for Auckland, China, the Czech Republic
and most recently achieved for Belgium.
•Our Critical Risk Program was launched November, with global
workshops for Mobile Plant and Potential Energy held in H2 F24.
Health, Safety & Wellbeing Performance
FY23
0
5
0
38
28
1035
251
0.00
2.00
4.00
6.00
Mar- 23Apr-23May-23Jun-23Jul-23Aug-23Sep-23Oct-23Nov-23Dec- 23Jan-24Feb-24
LTIFR
Lost Time Injury Frequency Rate (12 Month Rolling)
1.76
4.54

H1 F24
STRATEGY & SECTOR
PERFORMANCE

Delivering smart automation
that transform Industries
Our mission is to be the first choice for
businesses around the world wanting smart
automation and robotic solutions which
make their businesses safer, more
productive and efficient.
Scott 2027:
Engineering Scott to high performance
LEADING EDGE
TECHNOLOGY
ONE
SCOTT
OPERATIONAL
EXCELLENCE
AUTHENTIC CUSTOMER
PARTNERSHIPS
ROBUST GLOBAL
PLATFORMS

Revenue by Core Business
Scott’s strategy of more revenue from proven systems,
product and service delivers another period of growth
•Our Strategy of supplying repeatable products into large addressable
markets continues to gather momentum.
•Revenue from Core sectors grew by 20% vs pcp, andrepresent 85% of
Group Revenue (up from 77%).
•Strong partnership with global customers generate significant growth in the
US MHL market.
•Successful launch of the first RocklabsModular solution saw Minerals
revenue grow by 53%.
•Onerous contracts provision has reduced $4m on pcpto $0.4m reflecting
focus on repeatable products and systems and closing out legacy projects.
Strategy delivering sustained expansion
across core business & geographies
Core CAGR
+20%
83
98
120
31
29
21
114
127
141
H1 F22H1 F23H1 F24
Group CAGR
+11%
Protein
22%
MHL
45%
Minerals
18%
ROB
15%
H1 F24
Revenue
$141m
H1 F24 Revenue $141m
USA
Europe
Australia
NZ
China + RoW
Revenue by Customer Geography

Materials Handling: sustained growth from
strategic markets Europe and US
35% revenue growth following higher demand in
automated palletisation solutions (F22 CAGR: 37%)
Scott’s MHL presence continues to grow strongly in Europe, with over 40
projects in progress.
•Strong revenue growth with CAGR from H1 F22 of 37% with the entrance
to the US market, answering demand from global customers, with a
strong focus on execution.
•Strong forward order book of $113m:
-Palletisation with $58m confirmed for JBS and McCain across both
Europe and US.
-Materials Handling EU: confirmed contracts for new projects with
multiple existing customers, such as Clarebout and Sugo, as well as
multiple SLAs
-Transbotics: confirmed contracts with major global businesses and
new customer Logan Aluminum.
Margins dollars up by 17% (F22 CAGR 39%)
•Higher sales equipment, especially new palletisation projects, has
changed sales/service mix. This result in margin % reducing by 292 bps.
19%22%
19%
Margin
(%)
6.3
10.4
12.1
H1 F22H1 F23H1 F24
29.6
38.7
9.1
9.0
7.7
15.0
33.5
46.5
62.7
H1 F22H1 F23H1 F24
US
Palletisation
Europe
Palletisation
Transbotics
Revenue (NZ$m)
Margin (NZ$m)

MHL: Authentic customer partnerships
opens doors cross-continents
Growth in the materials handling & logistics is
underpinned by global expansion of palletisation
and driving authentic customer partnerships.
•Scott Europe excel in developing Materials Handling
solutions for Food & Beverage Manufacturers across
Europe, 80% of revenue from this sector.
•Specialising in high throughput, chilled environments
and managing multiple SKUs and Product types and
simultaneously.
>120 sites
identified within
North America with
1 or more Scott MHL
installations in Europe
Multi-line palletisation for frozen foods

Minerals: New products drive revenue growth
Revenue (NZ$m)
Margin (NZ$m)
New ‘modular’ Rocklabs solution for mining and laboratory
customers generates significant revenue growth of 53%
•Strong focus on execution for the contract with Mineral Resources Limited
($12m) accounts for half of the growth vs pcp.
•Grand opening of new facilities to answer the continued demand for Rocklabs
standard equipment, positioning for growth.
•Robofuel Energize solution for Caterpillar contributed to 24% of H1 F24 revenue.
Margin grows by 13% driven by AMS and Energize
•Focus on new mineral solutions resulted margin % decrease.
42%
46%
34%
Margin
(%)
7.6
7.7
8.7
H1 F22H1 F23H1 F24
18.2
15.4
16.4
1.2
6.1
3.1
18.2
16.8
25.6
H1 F22H1 F23H1 F24
Rocklabs
Standard
Rocklabs
Modular
Robofuel

Minerals: Delivering Sustainability
for Mining Customers
•The AETS (Automated Energy Transfer
Systems) project employs our world
leading vision sensing and detection
systems combined with our robotic
technology.
•It allows the charging process to be
completed in a fraction of the time and
without manual intervention, eliminating
human risk and labour, while maximising
fleet utilisation.
AMS Prep-line is designed for a single operator, fully automated
to reduce intervention and labour reliance.
•Automated Modular System (AMS) safer processing, maximizes uptime, reducing labor
requirements and ensures accuracy and quality.
•The AMS Prep Line processes up to 16 samples per hour, with automated modules for
Crushing, Pulverizing and Dispensing. Dosing and Bead Fusion modules options available.
•Several of the largest mining companies trialing the demonstration unit with positive results.
Robofuel Energize solution for
Caterpillar set to accelerate the
electrification of the mining industry.

New Facility Positions Rocklabsfor Growth
250% storage expansion
Double base footprint (Workshop & Stores
5,500m2 + Canopy and Offices)
Fit for Growth: Space for multiple AMS Builds
and capacity to Grow standard Manufacturing

Global protein cycle brings reduction in demand
Revenue (NZ$m)
Margin (NZ$m)
Global pressure on red meat reduces customer demand
and meat processors investments
•Protein revenue down 9% to $31.3m on challenging market conditions.
•BladeStop lower demand than pcp:
- US sales contraction is offset by higher service revenue, mostly in
the US and Europe.
- Ongoing significant opportunities with major retailers; ie 50%
penetration of BladeStop across Cargill’s Beef Processing plants.
The successful commissioning of major contracts raises
interest in specialised protein systems
•H1 saw the Silver Fern Primal delivered. Strong demands from several
key actors on the market, we introduced the next generation of primal
equipment incorporating further use of artificial intelligence within its
vision analysis which has significantly improved the accuracy of cut,
creating a greater $ yield for its customers.
•2 poultry trussers installed in Costco well in progress, sparking interest
from multiple US prospects.
•New order for 5 trussers for the US market.
•Overall protein margin remains strong a 32%, similar to H1 F22
Margin
(%)
31%
36%
32%
9.7
12.2
9.9
H1 F22H1 F23H1 F24
(9%)
2.6
3.3
16.9
21.2
18.3
14.4
10.5
9.7
31.3
34.4
31.3
H1 F22H1 F23H1 F24
Poultry
BladeStop
Other
Protein

Beef Processing
Loin
Deboner
Waterless
Frenching
202020222023
Protein: Productisation& Industry Innovation
Scott continues to shape the future of processing
through innovation and market ready products.
2024
2025
20192021
BladeStop
Lamb Processing
Automated Poultry Trusser
2009: Scott develop world first
Automated Lamb Processing
Technology
2011: 2
nd
Gen X-Ray primal
2013: Middle machine
2017: Forequarter system
Fi rs t commerci al
machi nes s ol d to ANZCO
Product i n market,
cus tomer tri al s begi n
Loi n Deboner
devel opment begi ns
AU/NZ
Penetrati on
Cus tomer
tri al s begi n
Lamb Frenchi ng
devel opment begi ns
Fi rs t
modul es
l aunched
to market
Fi rs t modul es
i n cus tomer
tri al s wi th
JBS
Devel opment
Underway for
Beef Proces s i ng
& vi s i on
enabl ement
Vi s i on enabl ement
& handl i ng
technol ogi es
devel opment
MLA & JBS
signal support
for
development
partnership
Fi rs t modul es
l aunched
to market
Leap4Beef
Stage 1 begins
wi th chi ni ng &
s tri pl oi n s aw
devel opment
T300 debut
at Proces s
Expo, US
T300 product
devel opment
wi th TMM
Producti on
Rel eas e
Mi d 2024
Customer
site trials for
T300 begin
US
Penetrati on
T300
Pilgrim's purchase
world first Automated
Poultry Trusser
(2 x 24 BPM l i nes )
US
Penetrati on,
RoW rel eas e
Proof of Concept
devel opment &
Patent Fi l ed
Succes s ful Ins tall at
Pilgrims Enterprise
Lincoln Poultry
Processing (LPP)
purchas es
2 x 24 BPM l i nes
Launched
at IPPE &
Innovation
Award Won
Fi rs t 2 l i nes
s ucces s fully
installed
at LPP
US & EU
Agent
Secured
LPP orders
additional
7 x 24
BPM lines
Market
opportuni ty
for s mal l er
retai l s aw
i denti fi ed
Bl adeStop 2.1
rel eas ed wi th
extended s ervi ce l i fe
CE &
Functi onal
s afety
certi fi cation
achi eved
Bl adeStop
Connect
opti ons
rel eas ed
1000
machines
installed
Globally
Over 1600 Bl adeStop
machi nes i ns tal led
2016: Scott
acquires BladeStop
2018: K400 & T600
products released
ANZ
Penetrati on

Protein: Productisation & Industry Innovation

19
SUSTAINABILITY
PEOPLE & PLANET

Empowering Sustainability Excellence
Across Our Organization
Emissions
reduction
Climate
disclosures
Diversity &
Inclusion
Talent
Development
Set date for
completion
Widen measurement
of Scope 3. Finalise
targets in each
region and create
teams to execute
reduction strategies
Diverse hiring
practices, Set
quantifiable and
drive aaccountability:
Training and
leadership
programmes,
succession planning,
ESG Focus 2024-2025
Place
•The newly formed Sustainability Governance Committee ensures the effective
implementation of our sustainability principles throughout the entire business.
Providing a robust framework for sustainable practices. The ESG Governance
structure includes Board Sustainability Governance Committee, Exec
Sustainability and a dedicated Carbon Team.
People
•Investing in our people remains a top priority, with a focus on training,
development, and recognizing employee achievements.
•Strong employee retention and downward trend in turnover reflect our
commitment to creating a supportive work environment.
•Upholding our commitment to gender diversity, we've achieved a positive
increase in employee diversity, with a notable 3% rise across the group.
•Continue to see impressive employee engagement score of 85%, (Highest ever
80% response rate) highlights our employees’ connection and dedication to
our mission.
Purpose
•Our dedication to customers shines through with the delivery of cutting-edge
ESG-centric solutions.

4.0
CLOSING
COMMENTS

---

110 Y E A R S

of
ENGINEERING
EXCELLENCE
HALF YEAR
REPORT
2024

Half Year Result 2024
1
Scott Technology Limited
Consolidated statement of comprehensive income
2
Consolidated statement of changes in equity
3
Consolidated balance sheet
4
Consolidated statement of cash flows
5
Notes to the consolidated financial statements
6
1. Summary of accounting policies
6
2. Revenue from contracts with customers7
3. Segment Information10
4. Note to the consolidated cash flow statement12
5. Financial instruments13
6. Contingent liabilities14
7. Related party transactions14
8.Non-recurring costs15
9.Subsequent events15
Statutory information
16
INDEX TO THE
FINANCIAL STATEMENTS
For the Six Months Ended 29 February 2024

Half Year Result 2024
2
Scott Technology Limited
6 mths
29 Feb 2024
6 mths
28 Feb 2023
12 mths
31 Aug 2023
(Unaudited)(Unaudited)(Audited)
Note
$'000s$'000s$'000s
Revenue2
140,868 126,533
267,526
Other operating income 1,242 246 1,391
Share of joint ventures’ net surplus (48) 119 127
Raw materials, consumables used and other expenses (83,324) (75,061) (158,967)
Employee benefits expense
(42,151) (37,277)
(79,703)
OPERATING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION, AND NON-RECURRING COSTS (OPERATING EBITDA)
16,587 14,560 30,374
Non-recurring costs8 (2,448) - (683)
OPERATING EARNINGS BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (EBITDA)
14,139 14,560 29,691
Interest revenue 38 80 558
Depreciation and amortisation (5,889) (3,920) (8,809)
Finance costs (2,226) (1,025) (2,241)
NET PROFIT BEFORE TAX 6,062 9,695 19,199
Taxation expense (1,602) (1,869) (3,763)
NET PROFIT FOR THE PERIOD AFTER TAX 4,460 7,826 15,436
Other Comprehensive (Loss) / Income
Items that may be reclassified subsequently to profit or loss:
Movement in Foreign Currency Translation Reserve (2,508) (576) 623
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD NET OF TAX 1,952 7,250 16,059
Net profit for the period after tax is attributable to:
Members of the parent entity (used in the calculation of earnings per share) 4,440 7,858 15,522
Non controlling interests 20 (32) (86)
4,460 7,826 15,436
Total comprehensive income is attributable to:
Members of the parent entity 1,932 7,282 16,145
Non controlling interests 20 (32) (86)
1,952 7,250 16,059
Total comprehensive income/(loss) attributable to members of the
parent entity arises from:
Continuing operations 1,952 7,250 16,145
Discontinued operation - - -
1,952 7,250 16,145
Earnings per share to shareholders from continuing operations
(weighted average shares on issue):
Cents Per
Share
Cents Per
Share
Cents Per
Share
Basic 5.5 9.8 19.3
Diluted 5.5 9.8 19.3
Net Tangible assets per ordinary share (at period end)
Basic 56.7 47.2 56.1
Diluted 56.7 47.2 56.1
CONSOLIDATED STATEMENT
OF COMPREHENSIVE INCOME
For the Six Months Ended 29 February 2024

Half Year Result 2024
3
Scott Technology Limited
Six Months Ended
29 February 2024 (Unaudited)
Fully Paid
Ordinary
Shares
Retained
Earnings
Foreign
Currency
Translation
Reserve
Non-
Controlling
InterestsTotal
(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)
$’000s$’000s$’000s$’000s$’000s
Balance at 31 August 2023 90,162 22,425 1,684 (372) 113,899
Net profit for the period after tax - 4,440 - 20 4,460
Other comprehensive income for the period net of tax - - (2,508) - (2,508)
Dividends paid (4.0 cents per share) - (3,248) - - (3,248)
Issue of shares under dividend reinvestment plan - - - - -
Balance at 29 February 2024 90,162 23,617 (824) (352) 112,603
Six Months Ended
28 February 2023 (Unaudited)
Fully Paid
Ordinary
Shares
Retained
Earnings
Foreign
Currency
Translation
Reserve
Non-
Controlling
InterestsTotal
(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)
$’000s$’000s$’000s$’000s$’000s
Balance at 31 August 2022 86,315 13,316 1,061 (286) 100,406
Net profit for the period after tax - 7,858 - (32) 7,826
Other comprehensive income for the period net of tax - - (576) - (576)
Dividends paid (4.0 cents per share) - (3,212) - - (3,212)
Issue of shares under dividend reinvestment plan 1,752 - - - 1,752
Balance at 28 February 2023 88,067 17,962 485 (318) 106,196
Twelve Months Ended
31 August 2023 (Audited)
Fully Paid
Ordinary
Shares
Retained
Earnings
Foreign
Currency
Translation
Reserve
Non-
Controlling
InterestsTotal
(Audited)(Audited)(Audited)(Audited)(Audited)
$’000s$’000s$’000s$’000s$’000s
Balance at 31 August 2022 86,315 13,316 1,061 (286) 100,406
Net profit for the period after tax - 15,522 - (86) 15,436
Other comprehensive income for the period net of tax - - 623 - 623
Dividends paid (8.0 cents per share) - (6,413) - - (6,413)
Issue of shares under dividend reinvestment plan 3,847 - - - 3,847
Balance at 31 August 2023 90,162 22,425 1,684 (372) 113,899
For the Six Months Ended 29 February 2024
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY

Half Year Result 2024
4
Scott Technology Limited
CONSOLIDATED BALANCE SHEET
29 Feb 202428 Feb 202331 Aug 2023
(Unaudited)(Unaudited)(Audited)
Note$’000s$’000s$’000s
Current assets
Cash and cash equivalents 13,489 29,960 21,432
Trade debtors 35,938 35,803 43,639
Other financial assets5 521 1,366 1,277
Sundry debtors 13,808 8,804 10,776
Inventories 36,298 32,789 38,251
Contract assets 38,425 29,979 34,241
Receivable from joint ventures7 - 431 431
Tax Receivable - 216 -
TOTAL CURRENT ASSETS 138,479 139,348 150,047
Non-current assets
Property, plant and equipment 20,762 17,551 18,366
Investment in joint ventures 756 796 804
Other financial assets5 62 143 142
Sundry debtors 2,389 3,866 2,901
Goodwill 50,968 50,688 52,016
Deferred tax 3,457 3,062 2,912
Intangible assets 4,399 6,193 5,586
Development assets 7,720 8,246 7,807
Right of use assets 26,839 11,731 12,473
TOTAL NON-CURRENT ASSETS 117,352 102,276 103,007
TOTAL ASSETS 255,831 241,624 253,054
Current liabilities
Bank overdraft 20,875 4,829 9,036
Trade creditors and accruals 38,741 45,154 39,300
Lease liabilities 4,337 3,114 3,773
Other financial liabilities5 540 1,359 1,682
Contract liabilities 29,408 43,144 45,454
Employee entitlements 9,242 9,128 12,943
Provision for warranty 1,337 1,318 1,374
Taxation payable 355 - 1,646
Current portion of term loans 12,481 1,315 1,151
Onerous contracts provision 447 4,454 1,061
TOTAL CURRENT LIABILITIES 117,763 113,815 117,420
Non-current
liabilities
Other financial liabilities5 62 143 142
Employee entitlements 786 838 667
Lease liabilities 23,815 9,575 9,602
Term loans 802 11,057 11,324
TOTAL NON-CURRENT LIABILITIES 25,465 21,613 21,735
Equity
Share capital 90,162 88,067 90,162
Retained earnings 23,617 17,962 22,425
Foreign currency translation reserve (824) 485 1,684
Equity attributable to equity holders of the parent 112,955 106,514 114,271
Non-controlling interests (352) (318) (372)
TOTAL EQUITY 112,603 106,196 113,899
TOTAL LIABILITIES AND EQUITY 255,831 241,624 253,054
As at 29 February 2024

Half Year Result 2024
5
Scott Technology Limited
29 Feb 202428 Feb 202331 Aug 2023
(Unaudited)(Unaudited)(Audited)
Note
$’000s$’000s$’000s
Cash Flows From Operating Activities
Cash was (applied to) / provided from:
Receipts from operations 129,081 133,169 267,110
Interest received 38 80 558
Payments to suppliers and employees (133,400) (106,326) (246,887)
Taxation paid (3,438) (901) (564)
Net cash (outflow) / inflow from operating activities4 (7,719) 26,022 20,217
Cash Flows From Investing Activities
Cash was (applied to) / provided from:
Purchase of property, plant, equipment and intangible assets (4,806) (1,558) (4,324)
Sale of property, plant and equipment 322 282 2,370
Purchase of development asset (267) (10) (1,229)
Net cash (outflow) from investing activities (4,751) (1,286) (3,183)
Cash Flows From Financing Activities
Cash was (applied to) / provided from:
Repayment of borrowings (1,047) (464) (1,904)
Dividends paid (less amount reinvested the dividend reinvestment scheme) (3,248) (1,442) (2,566)
Proceeds from borrowings 1,994 1,296 2,203
Lease payments (2,102) (1,897) (4,040)
Interest paid (2,909) (1,033) (2,266)
Net cash (outflow) from financing activities (7,312) (3,540) (8,573)
Net (decrease) / increase in cash held (19,782) 21,196 8,461
Add cash and cash equivalents at start of period 12,396 3,935 3,935
Balance at end of period (7,386) 25,131 12,396
Comprised of:
Cash and cash equivalents 13,489 29,960 21,432
Bank overdraft (20,875) (4,829) (9,036)
(7,386) 25,131 12,396
CONSOLIDATED STATEMENT
OF CASH FLOWS
For the Six Months Ended 29 February 2024

Half Year Result 2024
6
Scott Technology Limited
Technology Limited for the year ended 31 August 2023. These
Interim Financial Statements should be read in conjunction with
the policies disclosed in the annual financial statements.
The Group has adopted all mandatory new and amended
standards and interpretations. None had a material impact on
these financial statements.
There are no new or amended standards that are issued but not
yet effective that are expected to have a material impact on the
Group.
CLIMATE-RELATED DISCLOSURE STANDARD
The New Zealand External Reporting Board (XRB) has published a
suite of standards in line with the recommendations of the Task
Force on Climate-related Financial Disclosure (TCFD), the global
best-practice benchmark for climate-related reporting. The final
standards were published in December 2022.
Aotearoa New Zealand Climate Standards (NZ CS) are effective for
annual periods beginning on or after 1 January 2023. The Group
has applied the standard from 1 September 2023. Application of
this standard by the Group has not materially affected any of the
amounts recognised in these financial statements.
DISAGGREGATION OF REVENUE - SOURCES OF
REVENUE BY INDUSTRY
The Group has redefined its categories of revenue from contracts
with customers from Systems, Products and Services to revenue
from customers by industry, namely Protein, Minerals, Materials
Handling, and Rest of Business, which better reflect the specific
nature and application of Group's systems technology, products
and services across its geographic manufacturing segments and
CGUs. The sources of revenue are also allocated between sales
and service revenues across these industries.
Comparative figures for the six month period ended 28 February
2023 included under Note 2 Revenue from Contracts With
Customers have been restated in order to report comparative
figures under the new categories.
AUDIT
The Interim Financial Statements for the six months ended 29
February 2024 are unaudited. Comparative balances for the six
months ended 28 February 2023 are also unaudited, whilst the
comparative balances for the 12 months ended 31 August 2023
are audited.
AUTHORISATION
The Interim Financial Statements were authorised by the Board
of Directors on 16 April 2024. The annual financial statements for
the year ended 31 August 2023 were authorised by the Board of
Directors on 18 October 2023.
1. SUMMARY OF
ACCOUNTING POLICIES
STATEMENT OF COMPLIANCE
The unaudited interim financial consolidated financial statements
(Interim Financial Statements) presented are those of Scott
Technology Limited (“Company”) and its subsidiaries (“Group”).
The Company is profit oriented entity, registered in New Zealand
under the Companies Act 1993 and is a reporting entity for the
purposes of the Financial Markets Conduct Act 2013 and its
annual financial statements comply with these Acts. The Company
is listed with NZX Limited and its ordinary shares are quoted on
the NZX Main Board.
The Group’s principal activities are the design, manufacture, sales
and servicing of automated and robotic production lines and
processes for a wide variety of industries in New Zealand and
abroad.
BASIS OF PREPARATION
The Interim Financial Statements have been prepared in
accordance with the requirements of the NZX Listing Rules.
The Interim Financial Statements have been prepared in
accordance with Generally Accepted Accounting Practice in
New Zealand (“NZ GAAP”). The Interim Financial Statements
also comply with IAS 34 “Interim Financial Reporting” and other
applicable financial reporting standards as appropriate for profit
orientated entities. They also comply with International Financial
Reporting Standards ("IFRS").
The Interim Financial Statements have been prepared on the
basis of historical cost, except where otherwise identified. The
presentation currency used in the preparation of the financial
statements is New Zealand dollars and all values are rounded to
the nearest thousand dollars ($000).
NON-GAAP FINANCIAL INFORMATION
The Group uses earnings / (loss) before interest, tax, depreciation
and amortisation, and one-off costs (Operating EBITDA), earnings
/ (loss) before interest, tax, depreciation and amortisation
(EBITDA), and Net Tangible Assets per ordinary shares, to
describe financial performance as it considers these line items
provide a better measure of underlying business performance.
These non-GAAP measures do not have a standard meaning
prescribed by GAAP and therefore may not be compatible to
similarly titled amounts reported by other entities.
ACCOUNTING POLICIES
All accounting policies have been applied on a basis consistent
with those used in the audited financial statements of Scott
For the Six Months Ended 29 February 2024
NOTES TO AND FORMING PART OF THE
CONSOLIDATED FINANCIAL STATEMENTS

Half Year Result 2024
7
Scott Technology Limited
2. REVENUE FROM CONTRACTS
WITH CUSTOMERS
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
The Group derives revenue from contracts with customers from the transfer of goods and services over time and at a point in
time in the following major geographic manufacturing regions (segments) and revenue streams.

Six months ended
29 February 2024
(Unaudited)
ProteinMinerals
Materials
Handling
Rest of
Business Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales3,5806,746 2,473 1 12,800
Service2,8935,233 253 1,030 9,409
Revenue from external customers6,47311,9792,7261,031
22,209
Timing of revenue recognition
- Over time 3,283 - 2,473 1
5,757
- At a point in time 3,190 11,979 253 1,030
16,452
6,473 11,979 2,726 1,031
22,209
Australia
manufacturing
Sales4,3549,179 - 1,100 14,633
Service5,296856 - 870 7,022
Revenue from external customers9,65010,035 - 1,970
21,655
- Over time 1,786 5,694 - 1,100
8,580
- At a point in time 7,864 4,341 - 870
13,075
9,650 10,035 - 1,970
21,655
Americas
manufacturing
Sales5,7573,566 20,179 9,874 39,376
Service5,18754 3,823 - 9,064
Revenue from external customers10,9443,62024,0029,874
48,440
Timing of revenue recognition
- Over time 2,789 3,566 20,179 9,874
36,408
- At a point in time 8,155 54 3,823 -
12,032
10,944 3,620 24,002 9,874
48,440
Europe
manufacturing
Sales2,423 - 27,239 1,713 31,375
Service1,846 - 8,740 483 11,069
Revenue from external customers4,269 - 35,9792,196 42,444
Timing of revenue recognition
- Over time - - 27,239 1,713 28,952
- At a point in time 4,269 - 8,740 483 13,492
4,269 - 35,979 2,196 42,444
China
manufacturing
Sales - - - 6,120 6,120
Service - - - - -
Revenue from external customers - - - 6,120 6,120
Timing of revenue recognition
- Over time - - - 6,120 6,120
- At a point in time - - - - -
- - - 6,120 6,120
Total
manufacturing
Sales16,11419,49149,89118,80891,504
Service15,2226,14312,8162,38336,564
Revenue from external customers31,33625,63462,70721,191
140,868
Timing of revenue recognition
- Over time7,8589,26049,89118,808
85,817
- At a point in time23,47816,37412,8162,383
55,051
31,336 25,634 62,70721,191
140,868

Half Year Result 2024
8
Scott Technology Limited
Six months ended 28 February 2023
(Unaudited) (Restated)
ProteinMinerals
Materials
Handling
Rest of
Business Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales5,0068,596 1,818 949 16,369
Service1,7675,570 303 624 8,264
Revenue from external customers6,77314,1662,1211,573
24,633
Timing of revenue recognition
- Over time 4,551 - 1,818 949
7,318
- At a point in time 2,222 14,166 303 624
17,315
6,773 14,166 2,121 1,573
24,633
Australia
manufacturing
Sales1,526 1,117 - 7,936 10,579
Service2,831 775 - 1,932 5,538
Revenue from external customers4,357 1,892 - 9,868
16,117
Timing of revenue recognition
- Over time 2,857 - - 7,936
10,793
- At a point in time 1,500 1,892 - 1,932
5,324
4,357 1,892 - 9,868
16,117
Americas
manufacturing
Sales11,269 - 12,907 8,214 32,390
Service4,359558 3,870 7 8,794
Revenue from external customers15,62855816,7778,221
41,184
Timing of revenue recognition
- Over time 2,395 - 12,907 7,875
23,177
- At a point in time 13,233 558 3,870 346
18,007
15,628 558 16,777 8,221
41,184
Europe
manufacturing
Sales5,669 - 19,360 4,728 29,757
Service1,716 - 8,256 330 10,302
Revenue from external customers7,385 - 27,616 5,058 40,059
Timing of revenue recognition
- Over time - - 19,360 4,728 24,088
- At a point in time 7,385 - 8,256 330 15,971
7,385 - 27,616 5,058 40,059
China
manufacturing
Sales - 154 - 4,086 4,240
Service 273 27 - - 300
Revenue from external customers 273 181 - 4,086 4,540
Timing of revenue recognition
- Over time - - - 4,086 4,086
- At a point in time 273 181 - - 454
273 181 - 4,086 4,540
Total
manufacturing
Sales23,4709,86734,08525,91393,335
Service10,9466,93012,4292,89333,198
Revenue from external customers34,41616,79746,51428,806
126,533
Timing of revenue recognition
- Over time9,803 - 34,08525,574
69,462
- At a point in time24,61316,79712,4293,232
57,071
34,416 16,797 46,51428,806
126,533
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
2. Revenue from contracts with customers continued

Half Year Result 2024
9
Scott Technology Limited
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
2. Revenue from contracts with customers continued
12 months ended
31 August 2023
(Audited)
ProteinMinerals
Materials
Handling
Rest of
Business Total
$’000s$’000s $’000s $’000s
$’000s
New Zealand
manufacturing
Sales10,77211,893 3,633 2,256 28,554
Service4,06514,087 1,192 1,966 21,310
Revenue from external customers14,83725,9804,8254,222
49,864
Timing of revenue recognition
- Over time 9,955 - 3,633 2,257
15,845
- At a point in time 4,882 25,980 1,192 1,965
34,019
14,837 25,980 4,825 4,222
49,864
Australia
manufacturing
Sales5,02812,720 - 13,088 30,836
Service7,627 276 - 2,794 10,697
Revenue from external customers12,65512,996 - 15,882
41,533
Timing of revenue recognition
- Over time 7,376 3,329 - 13,088 23,793
- At a point in time 5,279 9,667 - 2,794 17,740
12,655 12,996 - 15,882
41,533
Americas
manufacturing
Sales25,051 1,159 21,868 16,974 65,052
Service9,874 754 6,519 57 17,204
Revenue from external customers34,925 1,913 28,38717,031
82,256
Timing of revenue recognition
- Over time7,7141,157 21,868 16,636
47,375
- At a point in time27,211756 6,519 395
34,881
34,9251,91328,38717,031
82,256
Europe
manufacturing
Sales9,823 - 42,368 13,741 65,932
Service3,627 - 18,793 645 23,065
Revenue from external customers13,450 - 61,161 14,386 88,997
Timing of revenue recognition
- Over time- - 42,368 13,741 56,109
- At a point in time 13,450 - 18,793 645 32,888
13,450 - 61,16114,386 88,997
China
manufacturing
Sales - 234 - 4,526 4,760
Service 83 33 - - 116
Revenue from external customers 83 267 - 4,526 4,876
Timing of revenue recognition
- Over time - - - 4,526 4,526
- At a point in time 83 267 - - 350
83 267 - 4,526 4,876
Total
manufacturing
Sales50,67426,00667,86950,585195,134
Service25,27615,15026,5045,46272,392
Revenue from external customers75,95041,15694,37356,047
267,526
Timing of revenue recognition
- Over time25,0454,48667,86950,248
147,648
- At a point in time50,90536,67026,5045,799
119,878
75,95041,15694,37356,047
267,526

Half Year Result 2024
10
Scott Technology Limited
The Group’s reportable segments under NZ IFRS 8 are:
• New Zealand Manufacturing
• Australia Manufacturing
• Americas Manufacturing
• Europe Manufacturing
• China Manufacturing
Information regarding the Group’s reporting segments is presented below.
3. SEGMENT INFORMATION
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
Segment revenues and results
The following is an analysis of the Group’s revenue and results by reportable segment. For the purposes of NZ IFRS 8,
allocations are based on the operating results by segment. The Group does not allocate certain resources (such as senior
executive management time) and central administration costs by segment for internal reporting purposes as these allocations
would not result in a meaningful and comparable measure of profitability by segment.
Six months Ended
29 February 2024
(Unaudited)
Manufacturing
New Zealand AustraliaAmericas Europe China Unallocated Elimination Total
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
Revenue from contracts with customers
Total revenue from contracts
with customers
22,209 21,655 48,440 42,444 6,120 - - 140,868
Inter-segment revenue
7,066 3,143 591 5,390 1,264 - (17,454) -
Segment Revenue
29,275 24,798 49,031 47,834 7,384 - (17,454) 140,868
Segment profit
16,400 47 998 6,186 1,489 - - 25,120
Depreciation and amortisation
(1,237) (1,966) (305) (1,852) (79) (450) - (5,889)
Share of net surplus in joint ventures
(48) - - - - - - (48)
Interest revenue
- 4 - - 22 12 - 38
Central administration costs
- - - - - (10,933) - (10,933)
Finance costs
(778) (58) (44) (252) - (1,094) - (2,226)
Net profit/(loss) before taxation
14,337 (1,973) 649 4,082 1,432 (12,465) - 6,062
Taxation (expense)/benefit
(1,373) 588 133 (813) (137) - - (1,602)
Net profit/(loss) after taxation
12,964 (1,385) 782 3,269 1,295 (12,465) - 4,460

Half Year Result 2024
11
Scott Technology Limited
3. Segment information continued
Revenue reported above represents revenue generated from external customers. Inter-segment sales, which are eliminated
on consolidation, were $17.5 million for the six months ended 29 February 2024, (six months ended 28 February 2023: $17.1
million; twelve months ended 31 August 2023: $26.4 million).
The accounting policies of the reportable segments are the same as the Group’s accounting policies described in Note 1.
Segment profit represents the profit earned by each segment without allocation of central administration costs and
investment revenue.
Six months Ended
28 February 2023
(Unaudited) (Restated)
Manufacturing
New Zealand AustraliaAmericas Europe China Unallocated Elimination Total
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
Revenue from contracts with customers
Total revenue from contracts
with customers
24,633 16,117 41,184 40,059 4,540 - - 126,533
Inter-segment revenue
4,504 5,644 437 2,853 3,663 - (17,101) -
Segment Revenue
29,137 21,761 41,621 42,912 8,203 - (17,101) 126,533
Segment profit
11,521 830 3,354 3,840 781 - - 20,326
Depreciation and amortisation
(408) (1,466) (297) (1,484) (77) (188) - (3,920)
Share of net surplus in joint ventures
119 - - - - - - 119
Interest revenue
- 2 35 25 15 3 - 80
Central administration costs
- - - - - (5,885) - (5,885)
Finance costs
(310) (32) (60) (151) - (472) - (1,025)
Net profit/(loss) before taxation
10,922 (666) 3,032 2,230 719 (6,542) - 9,695
Taxation (expense)/benefit
(975) 248 (671) (465) (6) - - (1,869)
Net profit/(loss) after taxation
9,947 (418) 2,361 1,765 713 (6,542) - 7,826
12 months ended
31 August 2023
(audited)
Manufacturing
New Zealand AustraliaAmericas Europe China Unallocated Elimination Total
$’000s $’000s $’000s $’000s $’000s $’000s $’000s $’000s
Revenue from contracts with customers
Total revenue from contracts
with customers
49,864 41,533 82,256 88,997 4,876 - - 267,526
Inter-segment revenue
6,738 9,276 701 3,643 6,043 - (26,401) -
Segment Revenue
56,602 50,809 82,957 92,640 10,919 - (26,401) 267,526
Segment profit
23,650 5,087 4,024 8,514 2,017 - - 43,292
Depreciation and amortisation
(1,611) (2,986) (599) (3,221) (154) (238) - (8,809)
Share of net surplus in joint ventures
127 - - - - - - 127
Interest revenue
176 280 - 42 38 22 - 558
Central administration costs
- - - - - (13,728) - (13,728)
Finance costs
(708) (60) (228) (354) - (891) - (2,241)
Net profit/(loss) before taxation
21,634 2,321 3,197 4,981 1,901 (14,835) - 19,199
Taxation (expense)/benefit
(1,360) (409) (856) (1,116) (22) - - (3,763)
Net profit/(loss) after taxation
20,274 1,912 2,341 3,865 1,879 (14,835) - 15,436
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024

Half Year Result 2024
12
Scott Technology Limited
29 Feb 202428 Feb 202331 Aug 2023
(Unaudited)(Unaudited)(Audited)
$’000s$’000s$’000s
Net profit for the period 4,460 7,826 15,436
Adjustments for non-cash items and non operating activities:
Depreciation and amortisation 5,889 3,920 8,809
Net (gain) on sale of property, plant and equipment (21) (100) (459)
Deferred tax (545) 303 453
Share of net surplus of joint ventures and associates 48 (119) (127)
Interest expense 2,196 1,025 2,266
7,567 5,029 10,942
Add/(less) movement in working capital:
Trade debtors 7,701 4,200 (3,636)
Other financial assets – derivatives 836 (472) (382)
Sundry debtors (2,520) (2,812) (3,818)
Inventories 1,953 (1,461) (6,923)
Contract assets (4,184) (11,906) (16,168)
Contract liabilities (16,046) 16,837 19,147
Onerous contract provision (614) (787) (4,180)
Taxation payable (1,291) 665 2,527
Trade creditors and accruals (559) 10,052 4,198
Other financial liabilities – derivatives (1,222) 28 351
Employee entitlements (3,582) (121) 3,522
Provision for warranty (37) (5) 51
(19,565) 14,218 (5,311)
Movements in working capital disclosed in investing/financing activities:
Working capital relating to sale/(purchase) of business and
non controlling interest
- - -
Movement in foreign exchange translation reserve
relating to working capital
(181) (1,051) (850)
Net cash (outflow) / inflow from operating activities (7,719) 26,022 20,217
4. NOTE TO THE CONSOLIDATED
CASH FLOW STATEMENT
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024

Half Year Result 2024
13
Scott Technology Limited
5. FINANCIAL INSTRUMENTS
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
6 months6 months12 months
29 Feb 202428 Feb 202331 Aug 2022
Assets
(Unaudited)(Unaudited)(Audited)
$’000s$’000s$’000s
At fair value:
Fair value hedge of open firm commitments
262 1,140 1,339
Foreign currency forward contracts held as effective fair value hedges
279 237 61
Foreign exchange derivatives
42 132 19
583 1,509 1,419
Represented by:
Current financial assets 521 1,366 1,277
Non current financial assets 62 143 142
583 1,509 1,419
Liabilities
At fair value:
Fair value hedge of open firm commitments 279 237 61
Foreign currency forward contracts held as effective fair value hedges 262 1,140 1,339
Foreign exchange derivatives 61 125 424
602 1,502 1,824
Represented by:
Current financial liabilities
540 1,359 1,682
Non current financial liabilities
62 143 142
602 1,502 1,824
The Group has categorised these derivatives, both financial assets and financial liabilities, as Level 2 under the fair value
hierarchy contained within NZ IFRS-13.
The fair value of foreign currency forward exchange contracts is determined using a discounted cashflow valuation. Key
inputs include observable forward exchange rates, at the measurement date, with the resulting value discounted back
to present values.
There have been no changes in valuation techniques used for foreign currency forward exchange contracts during the
current reporting period.
There were no transfers between fair value hierarchy levels during either the current or prior periods.
The fair value of financial instruments not already measured at fair value approximates their carrying value.
The fair value of foreign exchange contracts outstanding is recognised as other financial assets/liabilities.

The Group enters into foreign currency forward exchange contracts to hedge trading transactions, including anticipated
transactions, denominated in foreign currencies.
Derivatives are initially recognised at fair value on the date the derivative contract is entered into and are subsequently
re-measured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss unless the
derivative is designated and effective as a hedging instrument, in which event, the timing of the recognition depends on the
nature of the hedge relationship.
The Group designates certain derivatives as hedges of the fair value of firm commitments (fair value hedge) or as hedges
of forecast future sales (cash flow hedge). Open firm commitments reflect contractual agreements to provide goods to
customers at an agreed price denominated in a foreign currency on specified future dates.

Half Year Result 2024
14
Scott Technology Limited
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
6. CONTINGENT LIABILITIES
6 months6 months12 months
29 Feb 202428 Feb 202331 Aug 2023
(Unaudited)(Unaudited)(Audited)
$’000s$’000s$’000s
Payment guarantees and performance bonds
17,011 16,193 18,695
Stock Exchange bond
75 75 75
Maximum contract penalty clause exposure
7,587 10,284 7,419
7. RELATED PARTY TRANSACTIONS
6 months6 months12 months
29 Feb 202428 Feb 202331 Aug 2022
Joint Ventures
(Unaudited)(Unaudited)(Audited)
$’000s$’000s$’000s
Project work undertaken by the Group for RTL
294 503 133
Administration, sales and marketing fees charged by the Group to RTL
160 261 261
Sales revenue received by RTL from the Group
- - 549
Advance from Scott Technology to RTL - 431 431
Advances
Advances to joint ventures are unsecured, interest free and repayable on demand.
Substantial Shareholders
JBS Australia Pty Ltd owns a 53.05% shareholding in Scott Technology Limited (28 February 2023: 52.84%; 31 August
2023: 53.05%). The Group has recognised sales to JBS companies of $8.2 million (28 February 2023:$15.1 million; 31
August 2023: $21.9 million) and has made purchases from JBS Companies of $nil (28 February 2023: $nil; 31 August
2023: $nil). As at balance date the Group had $1.9 million receivable from JBS Companies (28 February 2023: $3.4
million; 31 August 2023: $2.1 million).
Dividends paid to JBS amounted to $1.7 million (28 February 2023: $1.7 million; 31 August 2023: $3.4 million).
Dividends paid during the periods 28 February 2023 and 31 August 2023 were reinvested in Scott Technology Limited
under a dividend reinvestment plan.
Payment guarantees are provided to customers in respect of advance payments received by the Group for contract work in
progress, while performance bonds are provided to some customers for a period of up to one year from final acceptance of
the equipment.
Scott Technology Limited has a payment bond to the value of $75,000 (28 February 2023: $75,000; 31 August 2023: $75,000)
in place with ANZ Bank New Zealand Limited in favour of the New Zealand Stock Exchange.
The Group has exposure to penalty clauses on its projects. These clauses relate to delivery criteria and are becoming
increasingly common in international contractual agreements. There is a clearly defined sequence of events that needs to
occur before penalty clauses are imposed.

Half Year Result 2024
15
Scott Technology Limited
Notes to and forming part of the consolidated financial statements continued
For the Six Months Ended 29 February 2024
8. NON-RECURRING COSTS
9. SUBSEQUENT EVENTS
Scott advised the share market on the 15th of June 2023 that after discussions with the majority shareholder JBS, it
intends to undertake a strategic review of its ownership structure, with the view to exploring options to maximise value
for all shareholders. Scott engaged Macquarie Capital as financial advisor to assist with the strategic review. As Scott
advised the market on the 13th of November 2023, the strategic review would not continue further at this time.
The costs associated with the strategic review have been included on a separate line as they are non-recurring in
nature and do not represent the trading position of the Group.


No other matters or circumstances have arisen since the end of the period which have significantly affected or may
significantly affect the operations, the results of operations or the state of affairs of the Group in subsequent periods.
The Board has resolved to pay an interim dividend for the six months ended 29 February 2024 of 5 cents per share (28
February 2023: 4 cents per share; 31 August 2023: 4 cents per share).

Half Year Result 2024
16
Scott Technology Limited
Name of EntityBalance Date
Country of
Incorporation
Ownership Interest
& Voting Rights
20242023
%%
Parent Entity
Scott Technology Limited 31 AugustNew Zealandn/an/a
New Zealand Trading Subsidiaries
Scott Technology NZ Limited31 AugustNew Zealand100100
Scott Automation Limited31 AugustNew Zealand100100
Scott Technology USA Limited31 AugustNew Zealand100100
QMT General Partner Limited31 AugustNew Zealand9393
QMT New Zealand Limited Partnership31 AugustNew Zealand9292
Scott Technology Americas Limited31 AugustNew Zealand100100
Scott Technology Europe Limited31 AugustNew Zealand100100
New Zealand Non Trading Subsidiaries
Scott LED Limited31 AugustNew Zealand100100
Rocklabs Limited 31 AugustNew Zealand100100
Overseas Subsidiaries
Scott Technology Australia Pty Ltd 31 AugustAustralia100100
Scott Automation & Robotics Pty Ltd 31 AugustAustralia100100
Scott Systems International Incorporated 31 AugustUSA100100
Scott Systems (Qingdao) Co Limited 31 December (*)China9595
Scott Technology GmbH 31 AugustGermany100100
Scott Technology Belgium bvba 31 AugustBelgium100100
Scott Automation NV 31 AugustBelgium100100
FLS Systems NV 31 AugustBelgium100100
Alvey do Brazil Comercio de Maquinas de Automacao 31 December (*)Brazil-100
Scott Automation a.s. 31 AugustCzech Republic100100
Scott Automation SAS 31 AugustFrance100100
Scott Automation Limited 31 AugustUnited Kingdom100100
Normaclass 31 AugustFrance100100
Rivercan S.A. 31 December (*)Uruguay100100
(*) Determined by local regulatory requirements.
STATUTORY INFORMATION
For the Six Months Ended 29 February 2024
SUBSIDIARIES

Half Year Result 2024
17
Scott Technology Limited
DIRECTORS
EXECUTIVES’ DETAILS
DIRECTORY
Stuart McLauchlan Chairman and Independent Director
John Kippenberger Executive Director
John Thorman Independent Director and Audit Committee Chair
Derek Charge Independent Director
Alan Byers Director
Brent Eastwood Director
John Berry Director
Penny Ford Emerging Director
John Kippenberger Group Chief Executive Officer
Anthony Wesney Co-Chief Financial Officer (Interim)
Mark O'Malley Co-Chief Financial Officer (Interim)
The details of the company’s principal administrative
and registered office in New Zealand is:
Registred Office
630 Kaikorai Valley Road
Private Bag 1960
Dunedin 9054
New Zealand
Share Registry
Link Market Services Ltd
PO Box 91976
Auckland, 1142
t +64 9 375 5998
f +64 9 375 5990
enquiries@linkmarketservices.co.nz
For the Six Months Ended 29 February 2024
Statutory Information continued

---

Template
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at June 2023

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Results for announcement to the market
Name of issuer Scott Technology Limited
Reporting Period 6 months to 29 February 2024
Previous Reporting Period 6 months to 28 February 2023
Currency
Amount (000s) Percentage change
Revenue from continuing
operations
$140,868 11%
Total Revenue $142,062 12%
Net profit/(loss) from
continuing operations
$4,460 (43)%
Total net profit/(loss) $4,460 (43)%
Interim/Final Dividend
Amount per Quoted Equity
Security
$0.05000000
Imputed amount per Quoted
Equity Security
$0.00972222
Record Date 1 May 2024
Dividend Payment Date 15 May 2024
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.567 $0.472
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
For commentary on the results please refer to the commentary
in the related NZX release. Further information is also set out in
the unaudited financial statements of the Company for the 6
months to 29 February 2024 which accompanies this
information.
Authority for this announcement
Name of person

authorised
to make this announcement
Anthony Wesney, Co-Chief Financial Officer
Contact person for this
announcement
Anthony Wesney

Contact phone number 021 469 985
Contact email address a.wesney@scottautomation.com
Date of release through MAP

16/04/2024

Unaudited financial statements accompany this announcement.

---

Scott Technology Limited
Distribution Notice

Updated as at June 2023



Please note: all cash amounts in this form should be provided to 8 decimal places, including zeros (ie 0.01001000)

Please do not amend or delete individual rows. As this template relates to prescribed content, changes to content
should only be made where it is clearly indicated that this is permitted, otherwise, if an Issuer considers a particular
element does not apply, mark the row as N/A, Any other changes to this prescribed form must first be approved by
NZX as required under NZX Listing Rule 3.26.1.

Section 1: Issuer information
Name of issuer Scott Technology Limited
Financial product name/description Ordinary Shares
NZX ticker code SCT
ISIN (If unknown, check on NZX
website)
NZSCTE0001S3
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies X
Record date 01/05/2024
Ex-Date (one business day before the
Record Date)
30/04/2024
Payment date (and allotment date for
DRP)
15/05/2024
Total monies associated with the
distribution
1

$4,059,940
Source of distribution (for example,
retained earnings)
Retained earnings
Currency NZD
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.05972222
Gross taxable amount
3
$0.05972222
Total cash distribution
4
$0.05000000
Excluded amount (applicable to listed
PIEs)
N/A
Supplementary distribution amount $0.00441176
Section 3: Imputation credits and Resident Withholding Tax
5


1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

Is the distribution imputed


Partial imputation

If fully or partially imputed, please
state imputation rate as % applied
6

16%
Imputation tax credits per financial
product
$0.00972222
Resident Withholding Tax per
financial product
$0.00998611
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
1.0%
Start date and end date for
determining market price for DRP
02/05/2024 06/05/2024
Date strike price to be announced (if
not available at this time)
09/05/2024
Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)
New Issue
DRP strike price per financial product
Not available at this time
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
02/05/2024
ection 5: Authority for this announcement
Name of person

authorised to make
this announcement
Anthony Wesney, Co-Chief Financial Officer
Contact person for this
announcement
Anthony Wesney
Contact phone number 021 469 985
Contact email address a.wesney@scottautomation.com
Date of release through MAP

16/04/2024








6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.