AoFrio (AOF)•FY22•Released 27 February 2023EBITDA margin fell to 2.2% while working capital absorbed NZ$9.8mRevenue grew 15.7% to a record NZ$74.3m, but a NZ$9.8m working-capital build—well above the historical average build of NZ$3.2m—turned operating cashPublished 28 April 2026Read briefing→
Wellington Drive Technologies (AOF)•FY21•Released 25 February 2022NPAT swung to $5.4m on a tax credit; PBT still a $0.6m lossA large tax benefit produced the headline turnaround on 74.1% revenue growth, but underlying operations remained loss-making at PBT level.Published 28 April 2026Read briefing→
AoFrio (AOF)•HY21•Released 25 August 2021AoFrio swings to $0.6m profit on 49.2% revenue rebound as net cash buildsOperating cash flow tripled to $3.1m on a strong demand recovery, but the comparable was COVID-depressed and capex fell to near zero.Published 23 April 2026Read briefing→
AoFrio (AOF)•FY20•Released 26 February 2021Revenue fell 40.2% on COVID, swinging PBT to a NZ$2.0m lossBoth Motors and IoT segments turned negative, though a working-capital release lifted cash to NZ$4.6m despite the earnings reversal.Published 23 April 2026Read briefing→
Wellington Drive Technologies (AOF)•HY20•Released 27 August 2020Revenue fell 38.5% and NPAT swung to a $0.8m loss in H1 2020A $4.8m equity uplift lifted total equity 64% but operating cash fell, the business swung from net cash to net debt, and both segments lost money.Published 22 April 2026Read briefing→
AoFrio (AOF)•FY19•Released 28 February 2020Wellington's maiden NZ$0.4m profit on IoT mix and 71% EBITDA liftEBITDA margin doubled to 6.8% as IoT revenue rose 31.6%, but a NZ$7.6m working-capital release flatters the cash result and merits a durability check.Published 22 April 2026Read briefing→