Winton Land (WIN)•HY26•Released 20 February 2026Revenue collapsed 60% as residential settlements fell to 14 units from 90Commercial rental income now leads the mix and is profitable, but the residential engine stalled, operating cash swung $37.0m negative, and net...Published 23 April 2026Read briefing→
Winton Land (WIN)•FY25•Released 27 August 2025Winton PBT fell 44.8% as net debt/EBITDA jumped to 3.7x from 0.8xOperating cash flow nearly tripled, but NZ$75.9m of capex pushed free cash flow negative, drained cash, and paused the dividend.Published 23 April 2026Read briefing→
Winton Land (WIN)•HY25•Released 21 February 2025Winton swung to a $2.0m loss and from net cash to $53.3m net debtSettlements dropped from 158 to 90 units, EBITDA effectively vanished, and $46.9m of capex absorbed a stronger operating cash inflow.Published 23 April 2026Read briefing→
Winton Land (WIN)•FY24•Released 23 August 2024NPAT halved and $204.8m cash pile turned to net debt on 8x capex surgeRevenue rose 8.8% but margins, cash, and leverage all turned materially as Winton funded a $60.5m capex build-out.Published 23 April 2026Read briefing→
Winton Land (WIN)•HY24•Released 20 February 2024NPAT collapsed 71.8% on flat revenue as residential margins resetOperating cash flow swung positive but capex tripled, first-time debt of $64.1m was drawn, and the interim dividend was cut 73.3%.Published 23 April 2026Read briefing→