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Showing 1-10 of 10 published briefings.

Vector (VCT)HY26Released 20 February 2026

Vector HY26: PBT up 1.1% but NPAT down 9.2% on higher tax and lost...

Electricity distribution carried the 6.1% revenue lift while the 'other' segment loss tripled and the interim dividend exceeded reported NPAT.

Published 22 April 2026

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Vector (VCT)FY25Released 25 August 2025

Continuing-ops PBT up 34% to $241.2m as gas distribution flips to a $6.2m loss

Electricity distribution carries the result at ~38% EBIT margin while gas mix shrinks, leverage eases to 5.1x, and the prior-year 1.75c special...

Published 22 April 2026

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Vector (VCT)HY25Released 26 February 2025

PBT up 170% on a 1.8% revenue dip, but receivables nearly doubled

Headline earnings flattered by a normalising tax rate and a discontinued gas-trading gain, while cash fell to $8.7m and debtor days doubled.

Published 22 April 2026

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Vector (VCT)FY24Released 27 August 2024

Continuing EBITDA up 14% to $365.2m but leverage stretched to 5.7x post-metering

Regulated Networks carried the result and capex eased, yet continuing NPAT fell 21.8%, working capital stretched, and the final dividend was cut a...

Published 22 April 2026

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Vector (VCT)HY24Released 27 February 2024

Vector PBT down 37.6% as Regulated Networks margin compressed by ~1,450bps

Post-Metering balance sheet is materially stronger, but the core regulated earnings engine has weakened and tax distorted headline NPAT.

Published 22 April 2026

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Vector (VCT)FY23Released 25 August 2023

Metering sale lifts NPAT 10x while underlying PBT fell 32.8%

A $1.6b discontinued-operation gain and $1.0b debt repayment reshape the balance sheet, but continuing earnings went backwards.

Published 22 April 2026

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Vector (VCT)HY23Released 21 February 2023

Continuing-ops profit fell 41% but a $32.0m disposal gain cushioned the NPAT...

Adjusted EBITDA ticked up 3.9% on a narrower, more regulated revenue base, yet PBT fell 34.8% and net debt/EBITDA held at 11.7x.

Published 22 April 2026

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Vector (VCT)FY22Released 26 August 2022

Gas Trading swings to $29.7m loss and lifts net debt/EBITDA to 6.4x

Revenue grew 4.7% but Adjusted EBITDA slipped, PBT fell 7.0%, and a higher tax rate drove NPAT down 16.7% while capex outran operating cash flow.

Published 22 April 2026

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Vector (VCT)HY22Released 25 February 2022

PBT up 15.7% despite EBITDA down 3.7%, with leverage stretched to 11.7x

Adjusted EBITDA softened but below-the-line costs fell further, while capex of 38.9% of revenue pushed gross borrowings past $3.1b.

Published 22 April 2026

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Vector (VCT)FY21Released 24 August 2021

Vector FY21: PBT up 67.6% as regulated networks margin jumped to 43.9%

Headline NPAT nearly doubled, but a lower tax rate and a prior-year $32.0m impairment flatter the bottom-line read versus a cleaner PBT gain.

Published 22 April 2026

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