Rakon (RAK)•HY26•Released 28 November 2025Revenue up 30.2% but Rakon stays loss-making with trade debtors surging 52.9%Strong demand recovery lifted Underlying EBITDA 149% and narrowed the PBT loss by 73.6%, but a NZ$18.8m receivables build means cash is not yetPublished 14 May 2026Read briefing→
Rakon (RAK)•HY25•Released 27 November 2024Revenue fell 32% pushing Rakon to a $15.1m PBT lossOperating cash flow rose 14% but only via $18.7m of working-capital release; inventory days still climbed 47 days.Published 29 April 2026Read briefing→
Rakon (RAK)•FY24•Released 29 May 2024PBT collapsed 99% on a 29% revenue fall as a tax credit propped up NPATOperating cash flow rose 60.5% but on working-capital release, while a tax benefit lifted NPAT to $4.5m well above near-zero PBT.Published 29 April 2026Read briefing→
Rakon (RAK)•HY24•Released 23 November 2023Revenue fell 29.7%, EBITDA collapsed 81.3% on operating deleverageCash flow swung positive on an inventory unwind, but PBT was effectively wiped out and ROE fell from 11.5% to 0.3%.Published 28 April 2026Read briefing→
Rakon (RAK)•FY23•Released 24 May 2023Revenue grew 4.9% but operating cash flow collapsed 63% and FCF turned negativeCapex more than doubled and working capital absorbed $15.0m, turning a $21.8m FCF inflow into a $7.6m outflow while NPAT fell 29.9%.Published 22 April 2026Read briefing→
Rakon (RAK)•HY23•Released 24 November 2022Inventory build of $28.5m wiped operating cash flow despite PBT up 14.9%PBT grew 14.9% on 2.0% revenue growth, but a $28.5m inventory build cut operating cash flow from $4.5m to $0.0m and turned free cash flow negative.Published 22 April 2026Read briefing→
Rakon (RAK)•FY22•Released 26 May 2022NPAT up 244.8% but cash conversion fell to 55.6% on inventory buildRecord earnings were undercut by a $19.6m inventory build and capex more than doubling, cutting FCF/NPAT conversion from 164.5% to 60.6%.Published 22 April 2026Read briefing→