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
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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 briefingHeadline 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 briefingContinuing 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 briefingContinuing 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 briefingPBT 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 briefingThe 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 briefingThe import-terminal transition delivered $12.0m NPAT and a 7c dividend, but $59.1m of conversion capex was funded by additional borrowing.
Published 22 April 2026
Read briefingContinuing operations earned $5.6m at ~66% EBITDA margin, but operating cash flow turned negative and net debt to EBITDA stepped up to 10.94x.
Published 22 April 2026
Read briefingRefinery 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
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