Wellington Drive Technologies (AOF)•HY20•Released 27 August 2020Revenue fell 38.5% and NPAT swung to a $0.8m loss in H1 2020A $4.8m equity uplift lifted total equity 64% but operating cash fell, the business swung from net cash to net debt, and both segments lost money.Published 22 April 2026Read briefing→
AoFrio (AOF)•FY19•Released 28 February 2020Wellington's maiden NZ$0.4m profit on IoT mix and 71% EBITDA liftEBITDA margin doubled to 6.8% as IoT revenue rose 31.6%, but a NZ$7.6m working-capital release flatters the cash result and merits a durability check.Published 22 April 2026Read briefing→
Vista Group International (VGL)•FY19•Released 27 February 2020Revenue up 10.5% but FCF swung to -$1.2m on capex and debtor buildOperating cash fell 43.8% as receivable days stretched to 142 and capex hit 11.6% of revenue, reversing prior strong cash generation.Published 23 April 2026Read briefing→