NZX Governance Explorer

How AoFrio Limited makes money

Where AOF’s revenue went in FY2018: operating costs, depreciation, interest and tax, and what was left as net loss. Built from the income statement in the filed annual report, and drawn only when the figures reconcile with each other. AOF company profile

How AoFrio Limited makes money — FY2018

Revenue $58.8m · EBITDA $2.5m (4.2% of revenue) · Net loss $713k (-1.2% of revenue) · Financial year ending December (from the issuer record)

AoFrio Limited (AOF) FY2018: where revenue of $58.8m wentRevenue → EBITDA: $2.5mRevenue → Operating costs (net of other income): $56.3mEBITDA → EBIT: $453kEBITDA → Depreciation & amortisation: $2.0mEBIT → Interest: $453kNet loss → Interest: $454kNet loss → Income tax: $259kRevenue: $58.8mRevenue$58.8mEBITDA: $2.5mEBITDA$2.5mOperating costs (net of other income): $56.3m (derived)Operating costs (net ofother income)$56.3m · derivedEBIT: $453kEBIT$453kDepreciation & amortisation: $2.0mDepreciation &amortisation$2.0mNet loss: $713kNet loss$713kInterest: $912kInterest$912kIncome tax: $261kIncome tax$261k

Band widths are proportional to NZD amounts. Dashed outlines mark derived figures; the hatched node is a balancing item (net profit less every line above it).

AoFrio Limited FY2018 figures used in the chart
FY2018AmountStatusNote
Revenue$58.8mReported
Operating costs (net of other income)−$56.3mDerived *Reported operating expenses $11.9m do not reconcile; not used.
EBITDA$2.5mReported
Depreciation & amortisation−$2.0mReported
EBIT$453kReported
Interest (net finance costs)−$912kReported
Income tax−$261kReported
Other items (net gain)+$7kBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net loss-$713kReported
  • * operating costs: $56.3m = Revenue − EBITDA
Checks run on these figures (6)
  • Passed: Revenue is within the scale of a column stored in thousands.
  • Passed: Revenue in the income statement ($58.8m) vs the summary table ($58.8m): agree within 2%.
  • Passed: EBITDA − D&A = $0.5m vs reported EBIT $0.5m: reconciles.
  • Not met: Reported operating expenses ($11.9m) leave $46.8m, not EBITDA of $2.5m (gap $44.4m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $0m is 0.0% of revenue (limit 25%).
  • Not met: No operating segments recorded for this year.

Figures extracted automatically from the annual report; check against the report. NZD thousands as stored, shown in millions. Source: annual_report_pdf · method: claude_haiku_pdf · extracted 10 March 2026.

Annual report: Wellington Drive Technologies 2018 Annual Report (PDF, NZX)

Year-on-year EBITDA bridge (FY2017 → FY2018)

Bridge not available: FY2017 is not charted: EBIT is -$1m. This layout does not draw an operating loss.

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (1 of 9 years from FY2017). The shaded line is the median of 4 other listed Financials operating companies, using each one’s same financial year where it passed the checks; the number of companies in each median is in the table. Gaps are years that were not charted.

EBITDA margin
AOF ebitda margin by financial year, with peer median-10%10%30%FY17FY18FY20FY22FY24FY25FY2017: not charted — operating lossFY2018: AOF 4.2%; peer median — (1)FY2019: not charted — not from annual reportFY2020: not charted — operating lossFY2021: not charted — not from annual reportFY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — operating lossFY2025: not charted — operating loss
EBIT margin
AOF ebit margin by financial year, with peer median-10%10%30%FY17FY18FY20FY22FY24FY25FY2017: not charted — operating lossFY2018: AOF 0.8%; peer median — (1)FY2019: not charted — not from annual reportFY2020: not charted — operating lossFY2021: not charted — not from annual reportFY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — operating lossFY2025: not charted — operating loss
Net margin
AOF net margin by financial year, with peer median-10%10%30%FY17FY18FY20FY22FY24FY25FY2017: not charted — operating lossFY2018: AOF -1.2%; peer median — (1)FY2019: not charted — not from annual reportFY2020: not charted — operating lossFY2021: not charted — not from annual reportFY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — operating lossFY2025: not charted — operating loss

AOF   peer median   below the axis: year not charted (reason in the table). All panels share one scale.

AOF margins by year with peer medians
YearEBITDA margin: AOF · peer median (n)EBIT margin: AOF · peer median (n)Net margin: AOF · peer median (n)Note
FY2017—— (1)—21.3% (2)—15.1% (2)Not charted: operating loss
FY20184.2%— (1)0.8%— (1)-1.2%— (1)
FY2019—22.9% (2)—17.0% (2)—12.3% (2)Not charted: not from annual report
FY2020—26.6% (2)—19.4% (2)—14.2% (2)Not charted: operating loss
FY2021—15.2% (2)—12.1% (2)—6.6% (2)Not charted: not from annual report
FY2022—18.9% (4)—15.9% (4)—11.7% (4)Not charted: not from annual report
FY2023—19.9% (4)—14.0% (4)—11.2% (4)Not charted: not from annual report
FY2024—17.1% (4)—10.5% (4)—11.3% (4)Not charted: operating loss
FY2025—21.5% (4)—14.8% (4)—9.9% (4)Not charted: operating loss

Peer medians use only peer-years that passed the same checks; a median of fewer than two companies is not shown. Years are grouped by financial-year label, and year-end months differ between companies.

Not yet available: where the cash goes (operating cash flow to capex, dividends and debt) and underlying versus reported earnings. The figures they need are not yet validated.

Years not charted

These years are on file but their figures did not pass the checks, so no chart is drawn for them.

  • FY2025: EBIT is -$0.1m. This layout does not draw an operating loss.
  • FY2024: EBIT is -$0.3m. This layout does not draw an operating loss.
  • FY2023: Figures were not read from a filed annual report (source: not recorded).
  • FY2022: Figures were not read from a filed annual report (source: not recorded).
  • FY2021: Figures were not read from a filed annual report (source: not recorded).
  • FY2020: EBIT is -$1.6m. This layout does not draw an operating loss.
  • FY2019: Figures were not read from a filed annual report (source: not recorded).
  • FY2017: EBIT is -$1m. This layout does not draw an operating loss.
  • FY2016: EBIT is -$1.4m. This layout does not draw an operating loss.
  • FY2015: Figures were not read from a filed annual report (source: not recorded).

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Data sourced from NZX company annual reports (income statements). Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz.

For informational purposes only. Not investment advice.

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