Skip to main content
Annolyse

NZX results archive

NZX company results and financial reports.

Read what changed in the latest company results, compare equivalent periods, and open issuer-labelled annual reports and other source documents where available.

T&G Global Limited and subsidiary companies (TGG)FY22Released 28 February 2023

FCF hit unprecedented -NZ$100.4m as capex doubled and debtors surged

Operating profit rose 20.9% but a NZ$123.7m working-capital absorption pushed T&G from net cash to NZ$89.0m of net debt.

Published 22 April 2026

Read briefing
Heartland Group Holdings (HGH)HY23Released 28 February 2023

Revenue +10.2% but NPAT just +2.5% as tax step-up and bigger equity base bite

PBT grew 6.3% on stronger margins, but a 29.5% effective tax rate and 30.5% equity expansion drove ROE down to 9.6% from 12.2%.

Published 22 April 2026

Read briefing
AoFrio (AOF)FY22Released 27 February 2023

EBITDA margin fell to 2.2% while working capital absorbed NZ$9.8m

Revenue grew 15.7% to a record NZ$74.3m, but a NZ$9.8m working-capital build—well above the historical average build of NZ$3.2m—turned operating cash

Published 28 April 2026

Read briefing
Genesis Energy (GNE)HY23Released 27 February 2023

Revenue fell 16.4% while EBITDAF margin surged to 25.8%, above range

A sharp revenue contraction coincided with an EBITDAF margin above Genesis's historical range, raising questions about how durable the earnings gain

Published 22 April 2026

Read briefing
Michael Hill International (MHJ)HY23Released 27 February 2023

Operating cash fell 33% on inventory build despite 11.1% revenue growth

Cash conversion dropped from 86.9% to 54.5% as Australia carried group earnings while Canada and New Zealand segment results fell.

Published 22 April 2026

Read briefing
Channel Infrastructure NZ (CHI)FY22Released 24 February 2023

CHI returned to profit but FCF hit -$73.3m and leverage rose to 4.5x EBITDA

The import-terminal transition delivered $12.0m NPAT and a 7c dividend, but $59.1m of conversion capex was funded by additional borrowing, and the OCF/EBITDA ratio this period is denominator-distorted and not usable as a normal cash-conversion signal.

Published 22 April 2026

Read briefing
Summerset Group Holdings (SUM)FY22Released 24 February 2023

Underlying profit up 21.5% while IFRS NPAT fell 50.5% on revaluation

Development capex of $633.8m pushed gross borrowings to $1.07b and free cash flow to -$14.7m, with operating cash flow still near prior-year levels.

Published 22 April 2026

Read briefing
Scales Corporation (SCL)FY22Released 23 February 2023

Revenue up 20.3% but NPAT fell 27.9% on horticulture margin collapse

Logistics expansion drove the top line while China lockdowns crushed apple realisations, with minority-interest growth deepening the gap between PBT

Published 22 April 2026

Read briefing
Precinct Properties (PCT)HY23Released 23 February 2023

NPI grew 9% but NPAT swung to a $1.8m loss as revaluation gains faded

Operating cash earnings strengthened, but development capex jumped 81% and pre-lease FCF widened to -$88.5m, outside the historical range.

Published 22 April 2026

Read briefing
Air New Zealand (AIR)HY23Released 23 February 2023

First post-COVID profit: NZ$299m PBT and net cash position restored

Revenue tripled to NZ$3.1b drove NZ$972m of operating cash flow and a net cash position, against a COVID-trough HY22 comparable.

Published 22 April 2026

Read briefing
Sky Network Television (SKT)HY23Released 23 February 2023

OCF fell 25% as capex doubled and cash conversion dropped to 76.2%

Unprecedented working-capital absorption and inventory at 63.6 days erode cash backing for a resumed 6.0 cps dividend and announced buyback.

Published 22 April 2026

Read briefing
Seeka (SEK)FY22Released 23 February 2023

Dividend cut to zero as cash conversion fell to 26.3% and FCF turned negative

Revenue grew 12.5% but a loss-making second half, NZ$17.6m of pre-lease cash burn and leverage at 3.2x EBITDA dominate the read.

Published 22 April 2026

Read briefing
Auckland International Airport (AIA)HY23Released 23 February 2023

Revenue doubled to $287.8m but NPAT collapsed 95.6% on lost HY22 revaluation

Travel-led recovery lifted EBITDA 62% to $97.9m, but $261.6m of capex pushed free cash flow to -$121.3m and HY22 carried a $132m revaluation gain.

Published 22 April 2026

Read briefing
The Colonial Motor Company (CMO)HY23Released 22 February 2023

NPAT down 21.0% but a NZ$49.2m operating cash swing is the bigger issue

Margins held at the upper edge of their historical range, yet a NZ$27.8m inventory build pushed operating cash outflow to NZ$50.7m and lifted

Published 23 April 2026

Read briefing
Spark New Zealand (SPK)HY23Released 22 February 2023

TowerCo sale gain drives 367.6% NPAT growth as adjusted earnings fall

Reported PBT rose 198.1% on one-off proceeds while cash conversion fell to 35.4%, well below Spark's historical range.

Published 23 April 2026

Read briefing
Vector (VCT)HY23Released 21 February 2023

Net debt/EBITDA at 11.9x above historical range; $32m disposal cushioned NPAT

Revenue grew 8.7% but capex outran OCF, pushing pre-lease FCF to -$56.6m as the disposal gain masked a 34.8% PBT decline.

Published 23 April 2026

Read briefing
Mercury NZ (MCY)HY23Released 21 February 2023

EBITDAF up 86% but PBT fell 40% on acquired-swap unwinds

Trustpower's full half and a $65m HY22 hedge exit make this non-comparable, though OCF/EBITDAF conversion at 76.5% is unprecedented in recent history.

Published 22 April 2026

Read briefing
Property for Industry (PFI)FY22Released 20 February 2023

Fair-value reversal drives $13.9m loss; cash earnings hold at $52.1m

Last year's $392.5m property revaluation gains have unwound, yet a 32.5% drop in reported income lacks explanation in the release.

Published 22 April 2026

Read briefing
Marlin Global (MLN)HY23Released 17 February 2023

Portfolio returned -6.5% versus benchmark +6.3% as NTA fell to $0.80

Active management lagged the benchmark by 12.8 percentage points as net assets dropped 33.1% and the interim distribution was cut to 1.66cps.

Published 22 April 2026

Read briefing
Barramundi (BRM)HY23Released 17 February 2023

Net assets sank 21.2% to an unprecedented NZ$178.1m low

An 8.9% portfolio return lagged a 10.7% benchmark, and NPAT fell 18.1% on the smaller asset base.

Published 22 April 2026

Read briefing
Skellerup Holdings (SKL)HY23Released 16 February 2023

Revenue +10% but PBT flat as inventory build pushed net debt to $39.0m

Payout ratio versus pre-lease FCF is suppressed because the source-backed cash-dividend bridge is unavailable.

Published 22 April 2026

Read briefing
CDL Investments New Zealand (CDI)FY22Released 16 February 2023

Revenue fell 27% but NPAT margin hit an unprecedented 46.5%

Project mix held profit virtually flat despite lower settlement volumes, while cash fell NZ$21.4m on the Hamilton land acquisition and dividends.

Published 22 April 2026

Read briefing
Fletcher Building (FBU)HY23Released 15 February 2023

Pre-lease FCF hit unprecedented -$443m as $150m construction charge cut NPAT 46%

Revenue grew 5.4% and EBITDA margin reached 12.6%, but operating cash flow swung to -$203m and gross borrowings nearly doubled to $1.7bn.

Published 22 April 2026

Read briefing
Contact Energy (CEN)HY23Released 13 February 2023

EBITDAF fell 24% as capex jumped 80% and pre-lease FCF halved to $63m

Cash conversion dropped to 46.7%, below the historical baseline, leaving the maintained 14.0cps dividend uncovered by free cash flow.

Published 22 April 2026

Read briefing

Get reporting-season briefings

Get full NZX result briefings by email as new coverage is published.