Half Year 2026 Vector Ltd Earnings Call Transcript
Key Points
- Vector Ltd (NZSE:VCT) reported a 14% increase in revenue, driven by higher electricity revenue.
- Adjusted EBITDA rose by 19% to $240 million, reflecting strong financial performance.
- The company is forecasting adjusted EBITDA for the full year to be within the range of $470 million to $490 million.
- Vector Ltd (NZSE:VCT) has maintained a stable debt level with gearing at 37%.
- The company is committed to significant investment in Auckland's critical energy infrastructure, with a forecasted capital expenditure of $500 million to $540 million.
- Net profit after tax decreased by 4% to $113 million, impacted by lower capital contributions.
- Gross capital expenditure was down 15% compared to the prior period.
- Gas distribution volume decreased by 4.5% due to lower demand from residential, industrial, and commercial sectors.
- The company experienced higher operational expenses due to increased maintenance activity and digital costs.
- There was a $9.3 million loss on sale from HRV, affecting the financial results.
Good morning everybody. Welcome to Vector Limited conference call and webcast to discuss the company's financial and operational results for the half year ended December 31, 2025. (Operator Instructions) I must advise you that this conference call is being recorded.
I would now like to turn -- hand over to you Vector's Chair, Douglas McKay who will take you through the call.
(spoken in foreign language) Hello, everyone, and welcome to this presentation. I'm Doug McKay, Vector's Chair. Today, we're going through Vector's results briefing for the half year ended December 31, 2025. Joining me on the call for the first time as our Group Chief Executive is Chris Blenkiron. Pleased to have you here, Chris. And we have Chief Financial Officer, Jason Hollingworth.
We'll start the presentation with comments from Chris on overall financial performance. Then Jason will look at the detail. Chris will then talk about the outlook for the next 6 months, and then I will come back to
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