Sector archive
Browse recent results from companies in the same sector.
Showing 1-24 of 41 published briefings.
Record wind and second-best lake inflows drove a $485m PBT swing, but the prior comparable was depressed by hydro and gas constraints.
Published 22 April 2026
Read briefingNPAT swung from a NZ$67.0m loss to a NZ$20.0m profit, but a 35% capex step-up absorbed most of the operating cash uplift.
Published 21 April 2026
Read briefingEarnings and cash strengthened sharply, but a NZ$160.7m working-capital build sits well above Annolyse's historical baseline.
Published 21 April 2026
Read briefingContinuing-ops revenue rose 6.1% and capex fell 16%, but the 12.5c interim dividend ran above reported NPAT and leverage stayed elevated.
Published 23 April 2026
Read briefingEBITDAF margin reached 30.9%, above the historical range, while a $525m equity raise lifted total assets 52% and pushed leverage to 5.8x.
Published 21 April 2026
Read briefingRecord-low hydro inflows and a gas shortage compressed energy margin 23%, doubled leverage to 2.4x, and broke dividend coverage.
Published 22 April 2026
Read briefingA $123.7m working-capital absorption and weaker cash conversion left the full-year dividend uncovered by free cash flow.
Published 22 April 2026
Read briefingA discontinued Gas Trading business and a $37m gas-network impairment reshape headline comparability while leverage moves materially higher.
Published 23 April 2026
Read briefingDry conditions cut renewable generation 10% just as capex jumped 47.6% and net debt/EBITDAF stepped up from 2.2x to 2.8x.
Published 21 April 2026
Read briefingReported earnings growth ran well ahead of cash generation as receivables and inventory absorbed NZD 155m of working capital.
Published 22 April 2026
Read briefingContinuing-operations earnings surged on a lower tax rate and segment improvement, but a NZ$27.7m working-capital absorption—versus a historical
Published 23 April 2026
Read briefingNet debt/EBITDA jumped to 6.0x against a 2.2x–3.3x historical range as cash conversion fell to 19.5% from 68.4%.
Published 22 April 2026
Read briefingReported NPAT swung to a $67m loss on below-line items while capex jumped 53% and pre-lease free cash flow fell to $25m.
Published 20 April 2026
Read briefingPre-lease free cash flow of NZ$46.0m sits well below the NZ$191.7m historical mean and the dividend exceeds NPAT at a 109.7% payout.
Published 22 April 2026
Read briefingEBITDAF grew 14.1% yet operating cash dropped 19% on a $57m inventory build, lifting the NPAT payout ratio to 89.4%.
Published 22 April 2026
Read briefingReported profit was lifted by non-cash hedge fair value movements while the 21.0cps dividend ran at 170.7% of free cash flow.
Published 22 April 2026
Read briefingNetworks margin expansion and lower capex strengthened leverage to 3.7x EBITDA, while a $60m gas distribution impairment hit reported earnings.
Published 23 April 2026
Read briefingRevenue grew 28.4% on wholesale price pass-through, but higher generation costs cut EBITDAF to $407.2m and pushed net debt to 3.09x EBITDAF.
Published 22 April 2026
Read briefingHeadline NPAT growth of 181.6% reflects a fair-value reversal from a depressed prior year, while trade debtors expanded 41.1% and cash conversion
Published 21 April 2026
Read briefingUnderlying EBITDAF grew 16% to $663m once the FY23 base is adjusted for the $113m onerous contract provision booked in the prior period.
Published 22 April 2026
Read briefingEBITDAF rose only 4.2% and NPAT fell 5.0% as wholesale margin gains offset a sharp retail deterioration.
Published 22 April 2026
Read briefingAn unprecedented 65.4% effective tax rate widened the PBT-NPAT gap, while Metering disposal proceeds cut leverage from 11.7x to 8.5x.
Published 23 April 2026
Read briefingRevenue rose 18.3% but generation costs crushed margins, leaving the 7.0cps dividend at 194.4% of NPAT and leverage at 6.4x EBITDAF.
Published 22 April 2026
Read briefingAn unprecedented year-on-year operating working-capital expansion overwhelmed a modest EBITDAF dip and lifted leverage to 4.5x net debt/EBITDAF.
Published 25 May 2026
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