Seeka provides harvest update and market guidance

New Zealand kiwifruit harvest down, Seeka provides market guidance

Seeka Limited [NZX:SEK] provides this further update on the current year New Zealand kiwifruit
harvest.
The harvest is now completed, with the total industry Hayward volumes down on the previous year
by approximately 17% and down on the current year industry estimate by 10%. This follows the
SunGold national crop being down on estimate by 10.2%.
Seeka’s post-harvest volumes have followed the lower than expected industry volumes, and in
addition there was crop damage from high winds in late 2021 in the Opotiki region. Total Hayward
conventional volumes of 14.4m trays reflect a 21.5% reduction in average per hectare yields, year on
year, and SunGold conventional volumes of 26.0m reflect a reduction in average per hectare yields
of 10.5%.
Post-harvest earnings from handling kiwifruit represents a significant proportion of Seeka’s earnings,
and the volumes handled in the current year are much lower than anticipated. The total volume of
class 1 kiwifruit handled in 2022 is expected to be 42.4m trays. While that is ahead of Seeka’s 2021
post-harvest volumes, it includes the volume from acquisitions made since the 2021 season.
Seeka advises that its Australian business has performed well and has delivered earnings
improvement on last year.
Due to the lower SunGold and Hayward volumes, the Company expects full year net profit before tax
to be in the range of $9.0m to $11.0m.
Looking forward, the outlook for kiwifruit in future years has increasing volumes as previously
grafted SunGold orchards come into production and with the expectation of a return to more
normal yields in Hayward.

For further information please contact:
Michael Franks Seeka Chief Executive 021356516
Nicola Neilson Seeka Chief Financial Officer 021841606