Scott Technology wins $44m US and Brazil automation contracts

Scott Technology has won contracts in the US and Brazil worth $44m. Photo / Supplied

NZX-listed robotics firm Scott Technology says it has secured $44 million in new contracts with leading multinational appliance makers in the US and Brazil.

Scott, which is just over half owned by Brazil’s JBS - the world’s biggest meat processor - omitted the names and value of individual contracts, citing commercial sensitivity.

The company said the wins included the largest-ever appliance contract in its history within the US, signalling its strategic growth in key global markets.

“These contracts reflect a large-scale shift in how global manufacturers are competing,” chief executive Mike Christman said.

“Manufacture reshoring, evolving supply chains, and ongoing labour scarcity are driving the industry to reimagine production.”

Christman said automation was at the heart of the transformation.

Across these projects, Scott will deliver large-scale automation systems for precision manufacture of household laundry appliances, he said.

The contracts follow the announcement of Scott’s “Destination 2030″ strategy, presented at an investor day in Auckland last month, where it outlined plans to achieve revenues of $530m by 2030 from $276m in 2024.

In its latest result, Scott reported a net profit of $7.7m for the year to August 31, 2024 - down 50% on the previous year’s due to one-off strategic costs, higher lease and financing costs and change in tax law relating to depreciation.

At its investor day, Scott said it expects earnings before interest, tax, depreciation and amortisation for 2025 to be in a range of $30.5m to $31.5m.

• Listen and subscribe to the Today in Business podcast – the top headlines from the NZ Herald business team summarised and delivered by an artificial intelligence (AI) voice as an easily digestible recap.

Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.