WasteCo Group (WCO) H1 2026 earnings summary

Executive summary

• Revenue increased 43% year-over-year to NZ$35.7 million (rounded as $36 million in some reports) for the six months ended 30 September 2025, driven by growth across all service lines and strategic reset.

• Operating EBITDA doubled to NZ$3.8 million from NZ$1.9 million year-over-year, before one-off costs.

• Net loss after tax narrowed to NZ$5.0 million from NZ$5.5 million, with net loss before tax at -$4.97 million, despite $1.36 million in one-off health and safety and restructuring costs.

• Operating cash flow remained positive at NZ$2.9 million, though down from NZ$3.1 million a year earlier.

• Transformation into a national provider advanced with major contract wins, acquisitions, and compliance with all bank covenants.

Financial highlights

• Revenue: NZ$35.7 million (reported as $36 million), up from NZ$25.0 million year-over-year.

• Operating EBITDA: NZ$3.8 million, up 102% year-over-year, before one-off costs.

• Net loss: NZ$5.0 million after tax, improved from NZ$5.5 million loss; net loss before tax at -$4.97 million.

• Basic and diluted loss per share: NZ$0.0045, improved from NZ$0.0065.

• Cash at bank: NZ$2.7 million as of 30 September 2025, down from NZ$5.9 million at 31 March 2025.

Outlook and guidance

• FY26 revenue projected at $70–72 million and operating EBITDA at $7–8 million, excluding one-off costs.

• Directors expect continued operational existence and positive liquidity, supported by amended loan facilities and undrawn bank lines.

• Targeting $100 million in annualised revenue and a return to profitability by FY27.

• Monthly loan repayments reduced from NZ$400,000 to NZ$250,000, improving cash flow flexibility.

• Lower interest rates and improved business confidence expected to drive higher waste volumes in 2026.