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Analytical briefings for NZX company announcements.

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Showing 25-48 of 622 published briefings.

EBOS Group (EBO)HY26Released 25 February 2026

EBOS HY26: headline NPAT up 13% but underlying NPAT down 4.3% and operating...

Statutory earnings flatter on a lower tax rate while underlying profit slipped and cash conversion fell from 69% to 15% of EBITDA.

Published 21 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)FY25Released 24 February 2026

PBT fell 29.8% as property cycle offset record hotel revenue

Headline NPAT jumped 632% only because FY24 carried a one-off deferred tax charge; the cleaner PBT read shows clear operating deterioration.

Published 22 April 2026

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CDL Investments New Zealand (CDI)FY25Released 24 February 2026

PBT fell 42% and final dividend cut 71% as development margin collapsed

Revenue declined 22.3% but segment result in residential land fell far faster, and cash balance dropped $19.4m despite near-zero disclosed leverage.

Published 22 April 2026

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Property for Industry (PFI)HY26Released 24 February 2026

PBT up 78.8% on valuation tailwinds, but operating cash barely moved

Reported earnings accelerated sharply while operating cash flow rose just 2.7% and net debt climbed $71.0m, widening the gap between accounting...

Published 21 April 2026

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Mercury NZ (MCY)HY26Released 24 February 2026

EBITDAF up 28.5% but NPAT only NZD 20m on a NZD 537m earnings base

A strong hydrology-driven operating recovery is almost entirely absorbed between depreciation, interest, and tax, leaving statutory profit razor-thin.

Published 21 April 2026

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PGG Wrightson (PGW)HY26Released 24 February 2026

PGG Wrightson HY26: earnings grew, cash burn worsened

Revenue and EBITDA improved, but a larger first-half cash outflow and an 80% dividend increase make the capital-allocation read tighter.

Published 20 April 2026

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NZME (NZM)FY25Released 24 February 2026

EBITDA up 15% on flat revenue as NZM swings to $13.1m NPAT

Cost discipline drove the profit recovery, but a second-half skew and rising capex raise questions about earnings run-rate sustainability.

Published 20 April 2026

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Tourism Holdings (THL)HY26Released 23 February 2026

THL HY26 NPAT up 17% as inventory cleardown lifts FCF five-fold

Earnings rebased off a loss-making H2 FY25, but cash conversion improvement leans heavily on a NZ$78m inventory drawdown and lower capex.

Published 23 April 2026

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Chorus (CNU)HY26Released 23 February 2026

Chorus swings to $15m NPAT as capex drops 21% into copper exit

Revenue and EBITDA barely moved, but a $41m capex step-down and the mid-2026 copper withdrawal reshape the free cash flow picture.

Published 22 April 2026

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Comvita (CVT)HY26Released 23 February 2026

Revenue +18% and swing to NZD4.6m NPAT masks equity down 61%

Comvita's operating recovery is real, but a shrunken balance sheet and negative equity trend demand scrutiny of what was sold or written down to...

Published 21 April 2026

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Genesis Energy (GNE)HY26Released 23 February 2026

Normalised EBITDAF up 38% despite revenue falling 12.9%

Genesis Energy's margin expansion drove PBT up 44% even as energy revenue shrank, but a sharp inventory build and negative free cash flow...

Published 21 April 2026

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Winton Land (WIN)HY26Released 20 February 2026

Revenue collapsed 60% as residential settlements fell to 14 units from 90

Commercial 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 2026

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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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SkyCity Entertainment Group (SKC)HY26Released 19 February 2026

EBITDA down 36% as Adelaide swung to a NZ$16.1m EBIT loss

Reported NPAT doubled to NZ$12.1m but only because the tax rate normalised; underlying PBT fell 43.5% and leverage stepped up to 6.8x.

Published 23 April 2026

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Auckland International Airport (AIA)HY26Released 19 February 2026

AIA: revenue up 3.9% but PBT down 6.1% as leverage drifts to 5.7x EBITDA

Top-line growth across all three segments is being absorbed by depreciation and interest, while a $406.3m capex bill keeps free cash flow deeply...

Published 21 April 2026

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Spark New Zealand (SPK)HY26Released 18 February 2026

EBITDAI up 6.9% but revenue fell 2.4% as cost-out masks top-line pressure

Spark's margin recovery is real, but the revenue decline is accelerating and the interim dividend was cut 36%—the key tension is whether cost...

Published 21 April 2026

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Fletcher Building (FBU)HY26Released 18 February 2026

Fletcher Building HY26: volumes fell 20% but PBT returned to profit

Cost action held EBIT margin steady, yet the result still depends on an unquantified significant-items bridge and thin liquidity.

Published 20 April 2026

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Freightways Group (FRW)HY26Released 16 February 2026

Freightways HY26: PBT up 18.8% and net debt down NZ$26.5m on stronger cash...

Margin recovery and 24% OCF growth funded deleveraging and a 10.5% dividend lift, but payout still absorbs effectively all reported NPAT.

Published 22 April 2026

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Marlin Global (MLN)HY26Released 16 February 2026

MLN HY26 NPAT falls 20% to $6.5m, payout ratio stretches to 65%

Investment income has normalised off the HY25 peak, but the DPS cut and the collapse in the FY25 second half remain the defining context.

Published 22 April 2026

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Barramundi (BRM)HY26Released 16 February 2026

Investment income swung NZ$24.8m negative, driving a NZ$15.4m HY26 loss

Equity fell NZ$29.4m and cash dropped to NZ$2.8m, yet the board still declared a 1.28cps interim dividend against a loss-making period.

Published 22 April 2026

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Contact Energy (CEN)HY26Released 16 February 2026

PBT up 44% on a 5.3% revenue fall as Manawa transforms the balance sheet

Lower wholesale prices compressed revenue but cost savings and Manawa's generation assets drove a sharp margin expansion in HY26.

Published 21 April 2026

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The a2 Milk Company (ATM)HY26Released 16 February 2026

The a2 Milk Company HY26: EBITDA up 30% but NPAT collapsed 88%

Continuing operations strengthened, but the Mataura Valley Milk exit, wider China concentration, and softer cash conversion complicate the headline read.

Published 20 April 2026

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South Port New Zealand (SPN)HY26Released 13 February 2026

NPAT up 46.8% on 17.5% revenue lift, but interim dividend again exceeds HY...

Strong operational leverage lifted PBT 44.1%, yet the 8.5cps interim still pays out above HY NPAT and relies on the traditional second-half skew.

Published 23 April 2026

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Skellerup Holdings (SKL)HY26Released 12 February 2026

SKL NPAT up 20% on 11% revenue growth; FY26 guidance raised to $57–62m

A clean, broad-based beat with improved working capital and cash conversion, but capex doubled and annualised NPAT sits near the low end of the...

Published 21 April 2026

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