Spark New Zealand (SPK) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders, confirmed quorum, introduced Board and executive team, and outlined meeting procedures including voting and Q&A opportunities.

Financial performance review

• FY2025 adjusted revenue declined 4.2% to NZD 3,700 million; reported revenue was NZD 3,725 million, down 2.5%.

• Adjusted EBITDA/EBITDAI fell 8.9% to NZD 1,060 million; net profit after tax dropped 33.6% to NZD 227 million.

• Free cash flow held steady at NZD 330 million due to a 17.2% reduction in CapEx.

• Return on Invested Capital was 8.7%, outperforming most global peers.

• FY26 guidance: adjusted EBITDA/EBITDAI NZD 1,010–1,080 million, free cash flow NZD 290–330 million, 100% payout ratio.

Board and executive committee updates

• Three new independent directors appointed: Lindsay Wright, Tarek Robbiati, and Vince Hawksworth, each bringing diverse global and sector experience.

• Chair succession process underway; current Chair to serve up to 12 more months for transition.