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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Operating earnings strengthened on record generation, while a non-recurring prior-period gain distorts the headline net-profit comparison.
Published 22 April 2026
Read briefingOperating cash flow swung to $98.3m on working-capital normalisation, but EBITDA fell 22.1% pointing to a reset earnings base.
Published 22 April 2026
Read briefingA large asset disposal inflated reported earnings, while underlying operating cash conversion fell well below Spark's historical range of 65.7%–76.3%.
Published 23 April 2026
Read briefingNPAT up 6.5% benefited from a lower effective tax rate, while working-capital release rather than margin expansion drove the cash flow improvement.
Published 22 April 2026
Read briefingEBITDA rose 4.5% but a $949m working-capital build turned free cash flow negative and pushed dividends above reported earnings.
Published 22 April 2026
Read briefingCapex jumped to $541m while EBITDAF fell 14%, lifting leverage from 1.7x to 5.6x and materially tightening financial flexibility.
Published 22 April 2026
Read briefingHotels returned to profit and PBT fell 64.2% on weaker property sales, but receivables jumped to NZ$22.5m and pushed OCF down 82.6%.
Published 22 April 2026
Read briefingThe decline is volume-driven against a HY22 boosted by one-off land sales, while cash grew to NZ$45.0m with no debt and margins held within range.
Published 22 April 2026
Read briefingRevenue rose 18.6% to NZ$765.3m but PBT fell to negative NZ$21.4m as a cyclone-hit apples crop and net debt up 57% strained the balance sheet.
Published 22 April 2026
Read briefingUnderlying profit rose 8.6% excluding the prior-year one-off, while the 13.9% portfolio return lagged the ASX 200's 16.6% gain.
Published 22 April 2026
Read briefingA 25.5% revenue uplift was more than consumed by higher operating costs, lifting net debt to EBITDA to 8.0x and compressing PBT to NZ$0.5m.
Published 18 May 2026
Read briefingHeadline 159% revenue growth masks a sharply weaker second half, equity down 32.4%, and an almost-exhausted cash balance against rising borrowings.
Published 28 April 2026
Read briefingPositive EBITDA of $0.75m was overwhelmed by impairments, D&A and interest, leaving cash at $0.4m and equity halved to $1.4m.
Published 28 April 2026
Read briefingThe equity drawdown far exceeded the NZ$1.2m NPAT loss, pointing to balance-sheet movements that trading performance alone cannot explain.
Published 23 April 2026
Read briefingThe 99.8% PBT "improvement" reflects a completed transition out of a $2.0bn-asset predecessor, not operating progress in the new entity.
Published 23 April 2026
Read briefingRecurring sources delivered ~90% of revenue at 53% gross margin, yet pre-lease FCF burn of -$7.6m cut cash to $18.0m with no debt at year end.
Published 23 April 2026
Read briefingPBT swung to US$0.9m and EBITDA rose 35%, but an unusually favourable working-capital release supplied most of the cash flow lift.
Published 23 April 2026
Read briefingThe discontinued operation supplied two-thirds of reported NPAT while operating cash flow fell 30.3% and continuing EBIT dropped 29%.
Published 22 April 2026
Read briefingCash conversion jumped to 93.8% of EBITDA and ROE climbed to 7.6%, but prior-period comparability is distorted by unit-scale reporting differences.
Published 22 April 2026
Read briefingThe NZ$36.8m disclosed value from the Stoddard Road sale adds cash-context, while operating cash, capex and working capital remain the direct evidence.
Published 22 April 2026
Read briefingDebt-funded property purchases pushed leverage to 7.0x EBITDA while operating cash flow fell 59% and the result swung to a $2.1m loss.
Published 22 April 2026
Read briefingAGG's NZ$6.4m profit milestone was eclipsed by a New Zealand segment swing and a 56.9% drop in operating cash flow.
Published 22 April 2026
Read briefingEquity grew 79.2% versus 68.4% NPAT growth, signalling capital raised to fund the loan book has yet to lift per-dollar returns.
Published 22 April 2026
Read briefingEffective tax rate jumped from 24.9% to 43.5%, deepening the NPAT decline to 67% while operating cash flow held essentially flat at $1.1m.
Published 28 April 2026
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