Full Year 2025 NZX Ltd Earnings Call Transcript

Feb 25, 2026 / 09:00 PM GMT

Release Date Price: $0.9054

Transcript

Key Points

Positve

NZX Ltd (NZSTF) posted a strong full-year result with operating earnings before integration and restructuring costs increasing by 11.6% to 53.5 million.
The company declared an increased final dividend of 3.03 cents per share, bringing the total dividends to 6.03 cents per share for the year.
Revenues in the wealth technologies segment were up 26.2%, reflecting customer successes and client transition growth.
The dairy derivatives business saw lots traded increase by 22.2%, indicating strong performance in this segment.
NZX Ltd (NZSTF) has a positive outlook for future capital listings and raises, with visibility on potential growth opportunities in the resources and tech sectors.

Negative

The company faced a challenging issuance environment, with revenues in markets slightly down.
Expenses increased by 4.5% to 75.5 million, driven by salary and IT inflation.
The contractual revenue decrease from the Fonterra Cooperative Group's contract and the Electricity Authority's repricing impacted the markets business revenue.
There was no audit or backdated license revenue in 2025, affecting the information services segment.
The regulatory environment poses challenges, with a full legislative agenda potentially delaying desired changes to lower the cost of capital.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NZX.NZ - NZX Ltd
Full Year 2025 NZX Ltd Earnings Call
Feb 25, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everybody. Welcome to the 2025 full year results call for NZX.

I'm Mark Peterson, NZX chief executive, and I'm here with Graham Law, NZX's Chief Financial Officer and corporate officer.

Graham and I will take you through the result. I'll lead off with the key elements of the result and some broader comments, and Graham will then step us through the financials, after which we're more than happy to take questions.

To ask a question, please raise your hand. There's a raise your hand button button on the panel on the top right of your screen, and our moderator will send you a message request to unmute, at which time, please state your name and then ask your question and then go back onto mute if you wouldn't mind.

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