NZX Governance Explorer

How ArborGen Holdings Limited makes money

Where ARB’s revenue went in FY2023: 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. ARB company profile

How ArborGen Holdings Limited makes money — FY2023

Revenue $56.1m · EBITDA $10.3m (18.4% of revenue) · Net loss $2.5m (-4.5% of revenue) · Financial year ending March (from the issuer record)

ArborGen Holdings Limited (ARB) FY2023: where revenue of $56.1m wentRevenue → EBITDA: $10.3mRevenue → Operating costs (net of other income): $45.8mEBITDA → EBIT: $2.7mEBITDA → Depreciation & amortisation: $7.6mEBIT → Interest: $1.4mEBIT → Income tax: $1.3mNet loss → Income tax: $2.1mNet loss → Other items (net cost): $400kRevenue: $56.1mRevenue$56.1mEBITDA: $10.3mEBITDA$10.3mOperating costs (net of other income): $45.8m (derived)Operating costs (net ofother income)$45.8m · derivedEBIT: $2.7m (derived)EBIT$2.7m · derivedDepreciation & amortisation: $7.6mDepreciation &amortisation$7.6mNet loss: $2.5mNet loss$2.5mInterest: $1.4mInterest$1.4mIncome tax: $3.4mIncome tax$3.4mOther items (net cost): $400k (balancing item)Other items (net cost)$400k · balancing

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).

ArborGen Holdings Limited FY2023 figures used in the chart
FY2023AmountStatusNote
Revenue$56.1mReported
Operating costs (net of other income)−$45.8mDerived *Reported operating expenses $16.6m do not reconcile; not used.
EBITDA$10.3mReported
Depreciation & amortisation−$7.6mReported
EBIT$2.7mDerived *Reported EBIT $2.2m does not reconcile to EBITDA − D&A.
Interest (net finance costs)−$1.4mReported
Income tax−$3.4mReported
Other items (net cost)−$400kBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net loss-$2.5mReported
  • * ebit: $2.7m = EBITDA − D&A (reported EBIT $2.2m differs; the gap falls into Other items)
  • * operating costs: $45.8m = 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 ($56.1m) vs the summary table ($56.1m): agree within 2%.
  • Not met: EBITDA − D&A = $2.7m vs reported EBIT $2.2m: does not reconcile.
  • Not met: Reported operating expenses ($16.6m) leave $39.5m, not EBITDA of $10.3m (gap $29.2m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item -$0.4m is 0.7% of revenue (limit 25%).
  • Not met: Fewer than two operating segments with revenue; shown as one Revenue figure.

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 7 March 2026.

Annual report: 2023 Annual Report (PDF, NZX)

Year-on-year EBITDA bridge (FY2022 → FY2023)

Bridge not available: FY2022 is not charted: EBIT is $0m. 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 (4 of 10 years from FY2017). The shaded line is the median of 22 other listed Industrials 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
ARB ebitda margin by financial year, with peer median-20%10%40%FY17FY18FY20FY22FY24FY26FY2017: ARB 13.9%; peer median 12.4% (5)FY2018: not charted — operating lossFY2019: not charted — operating lossFY2020: not charted — operating lossFY2021: ARB 21.4%; peer median 11.7% (8)FY2022: not charted — operating lossFY2023: ARB 18.4%; peer median 15.0% (11)FY2024: not charted — operating lossFY2025: not charted — unexplained residualFY2026: ARB 18.3%; peer median 35.4% (2)
EBIT margin
ARB ebit margin by financial year, with peer median-20%10%40%FY17FY18FY20FY22FY24FY26FY2017: ARB 7.8%; peer median 10.1% (5)FY2018: not charted — operating lossFY2019: not charted — operating lossFY2020: not charted — operating lossFY2021: ARB 11.2%; peer median 5.7% (10)FY2022: not charted — operating lossFY2023: ARB 4.8%; peer median 8.6% (12)FY2024: not charted — operating lossFY2025: not charted — unexplained residualFY2026: ARB 2.6%; peer median 27.4% (2)
Net margin
ARB net margin by financial year, with peer median-20%10%40%FY17FY18FY20FY22FY24FY26FY2017: ARB -5.2%; peer median 7.7% (5)FY2018: not charted — operating lossFY2019: not charted — operating lossFY2020: not charted — operating lossFY2021: ARB 6.1%; peer median 4.7% (10)FY2022: not charted — operating lossFY2023: ARB -4.5%; peer median 6.1% (12)FY2024: not charted — operating lossFY2025: not charted — unexplained residualFY2026: ARB -11.0%; peer median 18.4% (2)

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

ARB margins by year with peer medians
YearEBITDA margin: ARB · peer median (n)EBIT margin: ARB · peer median (n)Net margin: ARB · peer median (n)Note
FY201713.9%12.4% (5)7.8%10.1% (5)-5.2%7.7% (5)
FY2018—11.2% (8)—7.2% (8)—6.4% (8)Not charted: operating loss
FY2019—8.8% (8)—5.7% (10)—4.7% (10)Not charted: operating loss
FY2020—14.0% (7)—6.7% (8)—6.3% (8)Not charted: operating loss
FY202121.4%11.7% (8)11.2%5.7% (10)6.1%4.7% (10)
FY2022—14.0% (8)—8.4% (10)—6.5% (10)Not charted: operating loss
FY202318.4%15.0% (11)4.8%8.6% (12)-4.5%6.1% (12)
FY2024—14.5% (10)—5.9% (11)—2.8% (11)Not charted: operating loss
FY2025—14.7% (13)—7.6% (13)—5.2% (13)Not charted: unexplained residual
FY202618.3%35.4% (2)2.6%27.4% (2)-11.0%18.4% (2)

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: After placing every reported line, -$21.8m (34% of revenue) is left unexplained between EBIT and net profit. A residual that large usually means a line was mis-extracted, so the chart is not drawn.
  • FY2024: EBIT is -$1.8m. This layout does not draw an operating loss.
  • FY2022: EBIT is $0m. This layout does not draw an operating loss.
  • FY2020: EBIT is -$4.1m. This layout does not draw an operating loss.
  • FY2019: EBIT is -$2.5m. This layout does not draw an operating loss.
  • FY2018: EBITDA is -$3m. This layout draws revenue flowing into profit and does not draw an operating loss.
  • FY2016: EBITDA is -$12m. This layout draws revenue flowing into profit and does not draw an operating loss.

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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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