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Infratil (IFT) briefings
Read that company's published results in release order, newest first.
Infratil (IFT)FY26Released 26 May 2026
Cash conversion fell 49.5% while borrowings rose 19.7% to fund growth capex
NPAT rose 292.0% on a disclosed discontinued-operation gain, but operating cash fell 49.5% as debt funded expansion.
Published 2 July 2026
Read briefingInfratil (IFT)HY26Released 13 November 2025
NPAT swung +385% on $280m disposal gain while cash conversion fell to 6.4%
Headline result is distorted by portfolio divestments and a discontinued operation; operational EBITDAF rose only 7% to $514m and OCF fell 64.9%.
Published 21 April 2026
Read briefingInfratil (IFT)FY25Released 28 May 2025
PBT fell 122.6% to a $212.1m loss despite 9.4% operating profit growth
Tax and non-operating items drove NPAT to -$286.3m even as revenue rose 11.7% and cash conversion weakened.
Published 22 April 2026
Read briefingInfratil (IFT)HY25Released 14 November 2024
Revenue +33.3% but NPAT swung -118.1% against HY24 one-off gain
Underlying proportionate EBITDAF rose 7%, while operating cash conversion fell from 41.6% to 18.4% as capex stepped up 25.9%.
Published 22 April 2026
Read briefingInfratil (IFT)FY24Released 21 May 2024
PBT up 55.4% but operating profit fell 47.9% on portfolio reshape
Headline growth reflects a transformed asset base and a zero effective tax rate, while operating profit weakened and leverage stepped up sharply.
Published 22 April 2026
Read briefingInfratil (IFT)HY24Released 16 November 2023
One NZ acquisition lifts revenue 112.9% but NPAT collapses 99.7% on disposal
Continuing-operations net parent surplus of NZ$1,215.1m and 45% Proportionate EBITDAF growth tell the real underlying story.
Published 22 April 2026
Read briefingInfratil (IFT)HY23Released 15 November 2022
Pre-lease FCF hit unprecedented -NZ$286.5m as cash conversion collapsed
PBT rose 53.2% and the margin was a record, but operating cash outflow widened to -NZ$234.6m and the lifted dividend is uncovered by cash.
Published 22 April 2026
Read briefingInfratil (IFT)FY22Released 19 May 2022
Discontinued-ops gain inflated NPAT; continuing PBT swung to NZ$128.5m
A NZ$1.1b after-tax gain from discontinued operations dominates headline NPAT, so PBT recovering from a NZ$91.8m loss is the cleaner operating read.
Published 22 April 2026
Read briefingInfratil (IFT)HY22Released 12 November 2021
Tilt sale delivered NZ$993.9m gain; continuing PBT up 214.2%
The n/m NPAT jump is a disposal accounting outcome, not an operating result, and FY22 Proportionate EBITDAF guidance was trimmed at the top end.
Published 22 April 2026
Read briefingInfratil (IFT)FY21Released 19 May 2021
PBT fell 117.6% into loss as FY20 one-off gains reversed
Revenue's n/m jump reflects portfolio change, while pre-lease free cash flow of -NZ$368.4m signals real cash pressure.
Published 22 April 2026
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