Open archive
Clear filters
Showing 1-9 of 9 published briefings.
Company archive
The New Zealand Refining Company (CHI) briefings
Read that company's published results in release order, newest first.
Channel Infrastructure NZ (CHI)FY25Released 27 February 2026
Flat revenue, PBT down 12.4% as cash conversion lifts to 79.6%
Earnings softened on a higher tax charge while operating cash flow strengthened, even as leverage drifted up to 3.55x.
Published 18 May 2026
Read briefingChannel Infrastructure NZ (CHI)HY25Released 26 August 2025
Payout ratio versus pre-lease FCF is suppressed because the source-backed cash-dividend bridge is unavailable.
Headline NPAT fell 30.1% but mostly on tax normalisation and a discontinued-operations swing, while operating EBITDA was essentially flat.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)FY24Released 27 February 2025
PBT up 6.7%, NPAT down 42.3% on discontinued operation loss
Continuing operations lifted EBITDA 9.1% with cash conversion at 68.2%, while a NZ$12.1m discontinued operation loss masked headline NPAT.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)HY24Released 23 August 2024
NPAT up 46% but PBT slipped 2% as discontinued operation flatters headline
Continuing operations softened and the effective tax rate jumped to 35.0%, even as EBITDA grew 10.5% on stronger jet fuel throughput.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)FY23Released 29 February 2024
FCF of $61.8m drove deleveraging to 3.6x and a 12.0c dividend
PBT rose 47.6% while NPAT rose 100.8% on a lower effective tax rate; the 12.0c payout reached 187.5% of NPAT, funded by free cash flow.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)HY23Released 23 August 2023
PBT up 158% on terminal debut, NPAT down 34% on prior discontinued-ops gain
The headline NPAT decline reflects a NZ$11.6m HY22 discontinued-operations gain; continuing-operations NPAT rose to NZ$14.5m from NZ$5.6m.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)FY22Released 24 February 2023
CHI returned to profit but FCF hit -$73.3m and leverage rose to 4.5x EBITDA
The import-terminal transition delivered $12.0m NPAT and a 7c dividend, but $59.1m of conversion capex was funded by additional borrowing, and the OCF/EBITDA ratio this period is denominator-distorted and not usable as a normal cash-conversion signal.
Published 22 April 2026
Read briefingChannel Infrastructure NZ (CHI)HY22Released 25 August 2022
Discontinued operation lifts NPAT 449.7% as pre-lease FCF swings to -$33.7m
Continuing operations earned $5.6m at ~66% EBITDA margin; operating cash flow turned negative, and while net debt to EBITDA stepped up to 10.94x, the OCF/EBITDA ratio itself is denominator-distorted this period and should not be read as a normal cash-conversion signal.
Published 22 April 2026
Read briefingThe New Zealand Refining Company (CHI)FY21Released 23 February 2022
Transition impairments drove NPAT to -$552.6m despite 44.5% EBITDA lift
Refinery simplification raised EBITDA to $72.8m and cut net debt, but conversion to a fuels import terminal triggered large non-cash charges.
Published 22 April 2026
Read briefingGet reporting-season briefings
Get full NZX result briefings by email as new coverage is published.