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Showing 1-9 of 9 published briefings.

Channel Infrastructure NZ (CHI)FY25Released 27 February 2026

H2 NPAT collapsed to $0.2m as leverage climbed to 3.6x EBITDA

Operating cash flow improved 14.6% and FY26 EBITDA guidance implies a return to growth, but the dividend still exceeds both statutory NPAT and...

Published 22 April 2026

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Channel Infrastructure NZ (CHI)HY25Released 26 August 2025

Channel lifts dividend 42% as NPAT drops 30% on Wiri discontinued-op swing

Underlying earnings were flat and leverage eased, but the 6.25c interim sits well above reported NPAT cover and relies on normalised free cash flow.

Published 22 April 2026

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Channel Infrastructure NZ (CHI)FY24Released 27 February 2025

NPAT down 42% on a $12.1m discontinued-operations loss as continuing PBT...

Operating cash flow jumped 77% and leverage eased to 3.1x, but H2 NPAT turned negative and the final dividend was cut to 6.6 cps.

Published 22 April 2026

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Channel Infrastructure NZ (CHI)HY24Released 23 August 2024

NPAT jumped 45% but PBT fell 2% and continuing-ops profit dropped 11%

Headline uplift is driven by a $3.8m discontinued-operations swing; the underlying operating result softened despite 8.4% revenue growth.

Published 22 April 2026

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Channel Infrastructure NZ (CHI)FY23Released 29 February 2024

First full terminal year: EBITDA up 52% and leverage eases to 3.6x

Continuing revenue rose 48% and operating cash swung positive, but a 12c dividend still exceeds NPAT and sits on $320.6m of gross borrowings.

Published 22 April 2026

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Channel Infrastructure NZ (CHI)HY23Released 23 August 2023

PBT up 159% but NPAT fell 34% as discontinued-operations swing reversed

First clean import-terminal half lifts revenue to NZ$64.4m and EBITDA to NZ$43.5m, but capex, borrowings, and a thin cash balance define the...

Published 22 April 2026

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Channel Infrastructure NZ (CHI)FY22Released 24 February 2023

Channel's terminal debut: first profit in three years, but FCF swung to -$73.3m

Transition to an import terminal delivered continuing-ops profit and a 7c dividend, yet operating cash turned negative and leverage stepped up to...

Published 22 April 2026

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Channel Infrastructure NZ (CHI)HY22Released 25 August 2022

Refinery exit flatters NPAT to $17.2m as operating cash swings to $14.8m outflow

Continuing operations earned $5.6m after tax at a ~66% EBITDA margin, but the business funded conversion capex from its cash balance rather than...

Published 22 April 2026

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The New Zealand Refining Company (CHI)FY21Released 23 February 2022

EBITDA up 44% to NZ$72.8m but NPAT loss widened to NZ$552.6m on refinery...

Operating economics and leverage improved sharply, but the imminent switch to a fuels import terminal drove a NZ$765.1m pre-tax loss that dwarfs...

Published 21 April 2026

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