Spark New Zealand Ltd Ord (NZTCF) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Kia ora koutou katoa. Good morning and thank you for joining us today for SPARC's half year results for the period ending 31 December 2025. This morning I'll provide an overview of our performance and progress we've made under our new SPARC 30 strategy. I'll then hand over to our CFO, Stewart Taylor, who will take you through the financials in more detail before we open for questions. Before turning to the results, a brief word on the broader operating environment. For the first half, the New Zealand economy showed signs of finding its footings. While conditions were still mixed, consumer activity improved and there was a growing sense of stability as the period progressed. That backdrop supports the progress we're seeing in our business, particularly in consumer, and gives us confidence as we move into the second half. With that context, I'll now turn to slides three and four to summarise our financial performance. Thank you very much. Thank you very much. I'm now going to speak to our adjusted numbers as these provide the best like-for-like year-on-year performance comparison. In a mixed demand environment, Spark delivered a clear step up in profitability in the first half. Adjusted Revenue of $1.917 billion was down 1.1% or $22 million. Around half or 10 million of this decline was driven by the divestment of Digital Island and FY25. The remaining decline driven by muted business project spending and service management and Legacy Voice. This was more than offset by improving mobile service revenue and discipline execution of our Cost Out programme, delivering a 5.1% increase in adjusted EBITDA to $471 million Adjusted MPAT of $73 million was up 30.4%, driven mainly by higher EBITDAI. Free cash flow strengthened to $107 million, up 84%, reflecting the op...