FY25 · Released 20 August 2025
Spark New Zealand FY25: PBT fell 33% while the tax rate halved
Revenue fell 3.5% and EBITDAI weakened, but the sharper operating story sat in pre-tax earnings rather than reported NPAT.
Read briefing
SPK · NZX
Spark New Zealand
TelecommunicationsCovered: FY251 published briefing
Snapshot
Latest metrics
FY25, released 20 August 2025
| Metric | Value |
|---|---|
| Revenue | $3725.0m |
| EBITDAI | $1053.0m |
| NPAT | $260.0m |
| Operating cash flow | $680.0m |
| OCF / EBITDAI % | 64.6% |
| Net debt | $1448.0m |
| Net debt / EBITDAI | 1.40x |
| ROE % | 17.1% |
| DPS | 25.0c |
| Payout ratio vs NPAT % | 178.6% |
Longitudinal view
Performance over time
Current-period values from each published briefing, with the most recent reporting period shown first.
| Metric | FY2520 August 2025 |
|---|---|
| Revenue | $3725.0m |
| Revenue growth % | -3.5% |
| EBITDAI | $1053.0m |
| EBITDAI margin % | 28.3% |
| PBT | $347.0m |
| PBT growth % | -32.5% |
| NPAT | $260.0m |
| NPAT growth % | -17.7% |
| Operating cash flow | $680.0m |
| OCF / EBITDAI % | 64.6% |
| FCF pre-lease | $251.0m |
| FCF post-lease | $330.0m |
| DPS | 25.0c |
| Payout ratio vs NPAT % | 178.6% |
| ROE % | 17.1% |
| Net debt | $1448.0m |
| Net debt / EBITDAI | 1.40x |
| Debtor days | 41 |
| Inventory days | 8 |
| Total assets | $4525.0m |
Timeline
Briefing timeline
Reverse chronological, with each entry linking back to the full briefing.
Accountability
Expectations tracker
Once a second briefing exists for this company, this section will compare the previous briefing's expectations and unresolved issues with what actually happened in the next result.
Subscribe
Want the next Spark New Zealand briefing delivered to your inbox?
Subscribe to get future Annolyse briefings as soon as they are published.