Annual Meeting Report, October 30th 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 (15 months) 2023 2024 2025 Change Revenue $1.1m $8.3m $7.9m $5.0m $7.5m 48% Gross Profit $0.7m $3.1m $3.1m $2.2m $2.0m -11% NPAT -$2.8m -$19.5m -$10.4m -$11.3m -$6.0m n/a EPS1 -$0.007 -$0.015 -$0.008 -$0.21 -$0.111 n/a Inventory Turnover 0.73…
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Annual Meeting Report, October 22nd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $281m $300m $626m $896m $1,005 12% EBITDAFI $172m $145m $397m $614m $701.1 14% Operating Margin 48% 63% 69% 70% 2% Investment Property change 527m $204 -$140m -$15m $127.5 n/a NPAT $464m $192m $43m…
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Annual Meeting Report, October 22nd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $177.0m $159.5m $211.4m $173.6m $155.4m -10% Gross Profit $57.4m $72.4m $108.7m $70.3m $59.5m -15% Gross Profit Margin 32% 45% 51% 40% 38% -5% Operating EBITDA $70.4m $44.9m $95.6m $29.5m $21.3m -28% NPAT $46.1m…
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Annual Meeting Report, October 22nd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $480.3m $600.6m $589.7m $479.2m $385.8m -19% Cost of Sales $381.9m $465.5m $464.7m $375.0m $315.7m -16% Gross Profit Margin 20% 22% 21% 22% 18% -16% Gross Profit $98.4m $135.1m $125.0m $104.2m $70.1m -33% NPAT…
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Annual Meeting Report, October 22nd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $8,120m $8,498m $8,469 $7,683m $6,994m -9% NPAT $305m $432m $254m -$79m -$365m n/a Gross Margin Pct 29% 30% 31% 28% 28% n/c Inventory Turnover 4.81 4.45 3.73 3.81 3.88 2% EPS1 $0.371 $0.552…
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Annual Meeting Report, October 24th 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $359m $346m $664m $922m $937m 2% Gross Profit $173m $195m $406m $548m $571m 4% Gross Profit Margin 48% 56% 61% 59% 61% 2% NPAT -$14.5m -$2.1m $49.9m $39.4m -$25.8m n/a EPS1 -$0.09 -$0.01…
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Annual Meeting Report, October 22nd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 AUD (restated) 2022 AUD 2023 AUD 2024 AUD 2025 AUD Change Revenue $574m $604m $632m $648m $646m n/c Gross Profit $366.9m $393.7m $406.7m $394m $391m -1% Gross Profit Margin 64% 65% 64% 61% 61% n/c NPAT $41.0m $47.6m $35.2m…
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Annual Meeting Report, October 23rd 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $280m $317m $334m $331m $354m 7% Gross Profit Margin 41% 40% 42% 43% 43% n/c NPAT $40.2m $47.8m $50.9m $46.9m $54.5m 16% EPS1 $0.206 $0.245 $0.26 $0.239 $0.278 16% PE Ratio 29 23…
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NZSA Disclaimer This is Part 1 of a two part story, focused on the potential for a step-change in KiwiSaver following the Government announcement on November 23rd. This commentary focuses on some of the key questions and trade-offs that could be raised as the proposal is tested in the 2026 election. Part 2 (in the…
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Annual Meeting Report, September 26th 2025 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 2024 2025 Change Revenue $66.1m $66.0m $82.7m $86.8m $82.0m -6% NPAT $3.2m $2.6m $1.3m $6.2m $3.3m -47% Gross Profit $14.8m $20.7m $17.8m -14% Gross Profit Margin 22% 22% 18% 24% 22% -9% EPS1 $0.07 $0.057…
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