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Mercury NZ (MCY) briefings

Read that company's published results in release order, newest first.

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Showing 1-10 of 10 published briefings.

Mercury NZ (MCY)•HY26•Released 24 February 2026

EBITDAF up 28.5% on revenue down 5.2% as margin hit upper edge

NPAT swung from a NZ$67.0m loss to a NZ$20.0m profit, but a 35% capex step-up absorbed most of the operating cash uplift.

Published 21 April 2026

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Mercury NZ (MCY)•FY25•Released 19 August 2025

FY25 EBITDAF fell 10.4% to $786m, missing $820m HY25 guidance

Dry conditions cut renewable generation 10% just as capex jumped 47.6% and net debt/EBITDAF stepped up from 2.2x to 2.8x.

Published 21 April 2026

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Mercury NZ (MCY)•HY25•Released 25 February 2025

Mercury NZ EBITDAF margin fell to an unprecedented 23.8% as revenue grew 9.3%

Reported NPAT swung to a $67m loss on below-line items while capex jumped 53% and pre-lease free cash flow fell to $25m.

Published 20 April 2026

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Mercury NZ (MCY)•FY24•Released 20 August 2024

Revenue jumped 25.4% but EBITDAF rose only 4.3% on margin compression

Headline NPAT growth of 181.6% reflects a fair-value reversal from a depressed prior year, while trade debtors expanded 41.1% and cash conversion

Published 21 April 2026

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Mercury NZ (MCY)•HY24•Released 20 February 2024

NZ$539m working-capital build dwarfed NZ$17m EBITDAF decline

An unprecedented year-on-year operating working-capital expansion overwhelmed a modest EBITDAF dip and lifted leverage to 4.5x net debt/EBITDAF.

Published 25 May 2026

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Mercury NZ (MCY)•FY23•Released 21 August 2023

EBITDAF rose 44.8% but NPAT fell 78.0% on a prior-year one-off gain

Operating earnings strengthened on record generation, while a non-recurring prior-period gain distorts the headline net-profit comparison.

Published 22 April 2026

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Mercury NZ (MCY)•HY23•Released 21 February 2023

EBITDAF up 86% but PBT fell 40% on acquired-swap unwinds

Trustpower's full half and a $65m HY22 hedge exit make this non-comparable, though OCF/EBITDAF conversion at 76.5% is unprecedented in recent history.

Published 22 April 2026

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Mercury NZ (MCY)•FY22•Released 16 August 2022

EBITDAF up 25.5% but $367m Tilt sale gain inflated NPAT to +232.6%

Cash conversion fell to 60.6% from 73.0% as working capital absorbed $258m and net debt/EBITDAF rose to 3.25x.

Published 22 April 2026

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Mercury NZ (MCY)•HY22•Released 22 February 2022

EBITDAF fell 17.7% on dry hydrology while reported NPAT tripled

A 5.1% effective tax rate and non-operating gains flattered headline profit even as FY22 EBITDAF guidance was cut to $570m.

Published 22 April 2026

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Mercury NZ (MCY)•FY21•Released 17 August 2021

FY21 PBT fell 30.2% as EBITDAF dropped 6.3% on a 15.7% revenue lift

Higher revenue did not translate into earnings, leverage edged up to 2.9x EBITDAF, and the NPAT-based payout ratio reached 164.1%.

Published 22 April 2026

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