Spark New Zealand Ltd (OTCPK:SPKKY)
$ 13.11 0.12 (0.92%) Market Cap: 4.76 Bil Enterprise Value: 6.14 Bil PE Ratio: 17.88 PB Ratio: 4.77 GF Score: 75/100
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Full Year 2021 Spark New Zealand Ltd Earnings Call Transcript

Aug 17, 2021 / 10:00PM GMT
Release Date Price: $16.39 (-1.03%)
Jolie Hodson
Spark New Zealand Limited - CEO & Executive Director

(foreign language) Good morning, and thanks, everyone, for joining us here today for Spark's full year results. Naturally, not the day we expected it to be following last night's alert level 4 lockdown announcement for New Zealand. But like most businesses, we've got used to adapting pretty rapidly. And with me today on the call is Spark's Finance Director, Stefan Knight, and as always, we're going to leave some time at the end for questions at the end of the presentation.

So if I shift now through the environment we've been in. During the year, New Zealand experienced a stronger-than-expected economic recovery with low unemployment and GDP back in growth. This moderated the anticipated impact of COVID-19 on Spark in some areas. However, with the border is still largely closed, we continue to be impacted by the loss of roaming, lower overall growth in the broadband and prepaid markets and increasing talent scarcity. This, along with some one-off costs, the top line revenues were down 0.8% year-on-year to roughly $3.6 billion.

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