Spark New Zealand Ltd Ord (NZTCF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the SPARC New Zealand HY25 results call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Jolie Hodson, CEO of SPARC. Please go ahead. Thank you. Kia ora koutou koutou. Good morning, everyone. Thank you for joining us today for SPARC's half-year results for the period ended 31 December 2024. This morning I'll provide an overview of our results and I'll then hand over to our CFO, Stuart Taylor, who's recently joined the business, to speak to our financial performance in more detail before we move to Q&A. So before we turn to the first half results, as you would have seen from our market disclosures this morning, we've updated FY25 EBITDA guidance. So I'll start by providing some context regarding this change. So when we updated the market in October, we outlined that we were experiencing one of the longest and deepest recessionary periods in recent history. Since that time, we've seen no improvement in these conditions, and while there has been movement on monetary policy, this has yet to flow through to any meaningful change in consumer or business spending. As a result, we've seen further deterioration in the performance of our enterprise and government division, which has been impacted by spending cuts mobile fleet reductions across government and businesses, changes in product mix, and aggressive price competition in mobile. This has resulted in us reducing FY25 adjusted EBITDA guidance to $1.04 billion to $1.1 billion. This excludes the anticipated benefit from the gain on the sale of Conexa ...