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Showing 1-24 of 28 published briefings.
Cash conversion reached 126.7% versus an 85.5% historical average, but acquisition and tax effects make headline growth comparisons unreliable.
Published 23 April 2026
Read briefingCost discipline drove an $8.1m EBITDA lift and lifted free cash flow to $25.4m, with net debt nearly halved to $15.5m.
Published 28 May 2026
Read briefingCapex stepped down 18.1% and FCF reached $149m, but borrowings rose $449m and cash conversion slipped below the historical range.
Published 23 April 2026
Read briefingThe NZ$453m initial cash proceeds and NZ$98m deferred cash proceeds from the TenPeaks transaction with Pacific Equity Partners (PEP) is relevant to debt headroom, while borrowings and gearing remain the direct evidence.
Published 21 April 2026
Read briefingThe statutory result reflects one-off costs and a community-paper closure rather than deteriorating segment economics or cash generation, but equity
Published 20 April 2026
Read briefingA step-up in free cash flow to $354m did not prevent net debt/EBITDA rising from 3.7x to 4.3x while the dividend was lifted 21.1%.
Published 23 April 2026
Read briefingPBT fell 57.9% and cash conversion slid to 80.9% from 90.9%, even as free cash flow rose to $24.8m and dividend guidance lifted to 30 cents.
Published 23 April 2026
Read briefingWorking-capital absorption reached an unprecedented level even as leverage and payout ratios moved outside Spark's historical range.
Published 20 April 2026
Read briefingPayout ratio versus pre-lease FCF is suppressed because the source-backed cash-dividend bridge is unavailable.
Published 21 April 2026
Read briefingRevenue and EBITDA both grew, but a heavier debt load drove PBT to NZ$2m and NPAT to a NZ$5m loss while the dividend was lifted.
Published 22 April 2026
Read briefingThe NZ$314m disclosed value from the Connexa sale adds cash-context, while operating cash, capex and working capital remain the direct evidence.
Published 23 April 2026
Read briefingCash conversion held near 103.3% but an outsized working-capital release masks a swing to a first-half loss.
Published 23 April 2026
Read briefingOneRoof's swing to profit and modest revenue growth offset a $6.4m fall in Audio's segment result and left the dividend uncovered.
Published 21 April 2026
Read briefingNet debt climbed past $2.5bn and leverage rose to 3.7x EBITDA, yet the final dividend was lifted 35.7% while NPAT fell into loss.
Published 22 April 2026
Read briefingFree cash flow dropped to $330.0m from $489.0m even as revenue fell 14.0%, raising questions about dividend durability.
Published 21 April 2026
Read briefingEBITDA rose 2.9% and cash conversion improved to 90.9%, but doubled capex and a bigger payout ratio drove cash down 32.6%.
Published 23 April 2026
Read briefingReported declines cycle the FY23 TowerCo gain; underneath, capex intensity rose to 14.5% of revenue and gross borrowings climbed NZ$587m.
Published 25 May 2026
Read briefingRevenue rose 3.7% and NPAT grew 10.3%, yet free cash flow of NZ$6.8m trails the historical NZ$41.7m average, straining dividend cover.
Published 22 April 2026
Read briefingPrior-comparable values in the analytical pack diverge sharply from the HY23 base the release describes, leaving underlying operating growth unclear.
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 briefingUnprecedented 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 briefingReported 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 briefingFY23 EBITDA guidance was lifted to $675-690m, but the tax rate jumped to 47.1% and the 17c dividend implies a 425% payout of NPAT.
Published 22 April 2026
Read briefingCore revenue returned to growth and pre-lease free cash flow reached the top of the historical range, supporting a 7.3c final dividend.
Published 22 April 2026
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