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Channel Infrastructure NZ (CHI) investor relations material
Channel Infrastructure NZ H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
EBITDA grew 4% year-over-year (excluding Wiri lease), driven by CPI escalation, increased throughput, and a full-year Transmix Contract contribution.
Delivered strong financial and operational performance in FY25, with results in line with guidance and an 18% increase in dividends year-over-year.
Total shareholder return reached 63% for 2025, significantly outperforming the NZX50.
Major projects, including jet storage and bitumen terminals, are progressing ahead of schedule and on track for completion in 2026.
ASX listing completed in December, broadening access to capital markets.
Financial highlights
Reported EBITDA was NZD 93.4 million, with an EBITDA margin of 67%.
Revenue grew 4% year-over-year (excluding Wiri lease), reaching $140.2m.
Net profit after tax was $20.9m, down 19% year-over-year due to higher depreciation and lower lease revenue.
Free cash flow conversion improved to 72%; normalized free cash flow was $66.9m.
Ordinary dividends increased 18% to 13.0 cps, with a payout ratio of 80%.
Outlook and guidance
FY2026 EBITDA expected/guided between NZD 95–100 million, reflecting early project completions and new growth projects.
Jet fuel throughput growth forecast at 2% for 2026, with modest passenger growth at Auckland Airport and ongoing aircraft availability issues.
Only NZD 23 million of conversion budget remains, to be spent over 2026–2027.
Maintenance capex expected at 8–10% of revenue; dividend policy maintained at 70–90% of normalized free cash flow.
- EBITDA up 10%, net profit at NZD 16.6m, and new contracts drive strong outlook.CHI
H1 202423 Jan 2026 - Long-term value and energy transition targeted through strategic projects and resilient operations.CHI
Status Update19 Jan 2026 - EBITDA margin hit 68% on 7% revenue growth, with major asset revaluation and new contracts.CHI
H2 202423 Dec 2025 - EBITDA $48.5m, net profit $13.1m, higher dividend, and strong project progress.CHI
H1 202523 Nov 2025 - Strong financials, higher dividends, and bold energy transition plans drive Channel's 2025 outlook.CHI
AGM 20256 Jun 2025
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