WasteCo Group (WCO) H1 2025 earnings summary

Executive summary

• Revenue increased 20% year-over-year to NZ$25.0m for the six months ended 30 September 2024, but net loss widened to NZ$5.5m from NZ$2.0m.

• Operating cash flow improved to NZ$3.1m from a NZ$0.25m outflow in the prior period.

• Acquisition of Civic Waste Limited and a NZ$15m convertible note issue announced post-period to strengthen balance sheet and fund growth.

Financial highlights

• Revenue: NZ$25.0m (up from NZ$20.8m year-over-year).

• Net loss: NZ$5.5m (vs. NZ$2.0m loss year-over-year).

• Basic and diluted loss per share: NZ$0.0065 (vs. NZ$0.0027 year-over-year).

• Cash at bank: NZ$0.37m (down from NZ$1.75m at 31 March 2024).

• Net assets: NZ$10.9m (down from NZ$16.4m at 31 March 2024).

Outlook and guidance

• Directors expect adequate resources to continue operations, supported by upcoming capital raise and acquisition.

• Share purchase plan targeting up to NZ$5m in new equity to further strengthen financial position.