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NZX & Media Release 25 August 2021 Scales growing New Zealand SCALES CORPORATION DELIVERS EXCEPTIONAL PERFORMANCE DURING A PERIOD WITH SIGNIFICANT CHALLENGES Highlights - 6 months to 30 June 2021 ( 1H21 ) • Underlying NPAT2 of $ 33.3 million ( 1H20 : $ 28.9 million ) , up 15.4 % Underlying EBITDA³ of $ 54.8 million ( 1H20 : $ 49.4 million ) , up 11.0 % • • Mr Apple own export volumes of ~ 3.6 million TCEs4 • • Strong performance from Food Ingredients reflecting sustained pet food demand Sufficient containers procured by Scales Logistics to allow businesses to successfully export their finished product Diversified agribusiness group Scales Corporation Limited ( NZX : SCL ) today reported its 1H21 results . Reported NPAT for the Group was $ 32.6 million ( 1H20 : $ 27.8 million ) , an increase of 17.5 % . Scales Corporation Chair Tim Goodacre noted : " Despite the challenges experienced by each of our divisions , our businesses have delivered an exceptional performance both financially and operationally . " " We continue to benefit from our diversified agribusiness approach and from the strategic benefit that Scales Logistics brings to the Group . The result is also testament to the outstanding performance of our team and the strong culture within the divisions . " Divisions The Horticulture division delivered an Underlying EBITDA of $ 38.0 million ( 1H20 : $ 36.9 million ) , up 2.9 % . Mr Apple total own grown export volumes are forecast to be 3.6 million TCEs ( 1H20 : 3.9 million TCEs ) . Managing Director Andy Borland commented : " The Horticulture division delivered 1 We have adjusted our definition of " Underlying " so that it now includes the effects of NZ IFRS 16 Leases . This is in line with current market practice . All Underlying result numbers , including comparatives , are now inclusive of NZ IFRS 16 effects 2 Net Profit After Tax 3 Earnings Before Interest , Tax , Depreciation and Amortisation 4 Tray Carton Equivalents Scales Corporation Limited Head Office : 52 Cashel Street | Christchurch 8013 | New Zealand Postal : PO Box 1590 | Christchurch 8140 | New Zealand Phone : +64 3 379 7720 scalescorporation.co.nz