NZX Governance Explorer

How Delegat Group Limited makes money

Where DGL’s revenue went in FY2025: operating costs, depreciation, interest and tax, and what was left as net profit. Built from the income statement in the filed annual report, and drawn only when the figures reconcile with each other. DGL company profile

How Delegat Group Limited makes money — FY2025

Revenue $349.6m · EBITDA $116.5m (33.3% of revenue) · Net profit $51.1m (14.6% of revenue) · Financial year ending June (from the issuer record)

Delegat Group Limited (DGL) FY2025: where revenue of $349.6m wentRevenue → EBITDA: $116.5mRevenue → Operating costs (net of other income): $233.1mEBITDA → EBIT: $89.0mEBITDA → Depreciation & amortisation: $27.5mEBIT → Net profit: $51.1mEBIT → Interest: $17.8mEBIT → Income tax: $19.3mEBIT → Other items (net cost): $820kRevenue: $349.6mRevenue$349.6mEBITDA: $116.5mEBITDA$116.5mOperating costs (net of other income): $233.1m (derived)Operating costs (net ofother income)$233.1m · derivedEBIT: $89.0mEBIT$89.0mDepreciation & amortisation: $27.5mDepreciation &amortisation$27.5mNet profit: $51.1mNet profit$51.1mInterest: $17.8mInterest$17.8mIncome tax: $19.3mIncome tax$19.3mOther items (net cost): $820k (balancing item)Other items (net cost)$820k · 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).

Delegat Group Limited FY2025 figures used in the chart
FY2025AmountStatusNote
Revenue$349.6mReported
Operating costs (net of other income)−$233.1mDerived *Reported operating expenses $69.3m do not reconcile; not used.
EBITDA$116.5mReported
Depreciation & amortisation−$27.5mReported
EBIT$89.0mReported
Interest (net finance costs)−$17.8mReported
Income tax−$19.3mReported
Other items (net cost)−$820kBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$51.1mReported
  • * operating costs: $233.1m = 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 ($349.6m) vs the summary table ($349.6m): agree within 2%.
  • Passed: EBITDA − D&A = $89m vs reported EBIT $89m: reconciles.
  • Not met: Reported operating expenses ($69.3m) leave $280.3m, not EBITDA of $116.5m (gap $163.8m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item -$0.8m is 0.2% of revenue (limit 25%).
  • Not met: Operating segments sum to $368.6m after $384.3m of eliminations, 5.4% away from revenue of $349.6m (limit 2%); 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: Delegat Group Limited Annual Report (PDF, NZX)

EBITDA bridge, FY2024 → FY2025

What moved EBITDA between the two years: the change in revenue, less the change in operating costs (revenue less EBITDA, net of other income; not a reported line). The costs are one net figure; no split by type is held, so none is shown.

DGL EBITDA bridge FY2024 to FY2025FY2024 EBITDA: $107.1m$107.1mFY2024 EBITDARevenue change: −$28.7m−$28.7mRevenue changeCost change (derived): +$38.1m+$38.1mCost change (derived)FY2025 EBITDA: $116.5m$116.5mFY2025 EBITDA
DGL EBITDA bridge FY2024 to FY2025: figures
StepFY2024FY2025Effect on EBITDAStatus
FY2024 EBITDA$107.1m$107.1mAs charted
Revenue$378.3m$349.6m−$28.7mReported
Operating costs (net, derived)$271.2m$233.1m+$38.1mDerived: revenue − EBITDA
FY2025 EBITDA$116.5m$116.5mAs charted

$107.1m −$28.7m +$38.1m = $116.5m, which equals FY2025 EBITDA of $116.5m. EBITDA is the figure stored from each statement; companies that headline an adjusted measure (EBITDAF, underlying EBITDA) can report a different number.

What changed from FY2024 to FY2025

MeasureFY2024FY2025ChangeChange %
Revenue$378.3m$349.6m−$28.7m−7.6%
EBITDA$107.1m$116.5m+$9.4m+8.8%
Net profit$31.4m$51.1m+$19.7m+62.7%
EBITDA margin28.3%33.3%+5.0 pts—
Net margin8.3%14.6%+6.3 pts—

Both years passed the same checks. Margins are shares of revenue; their change is in percentage points. n/m = not meaningful (prior-year figure at or below zero). Each year holds the figures from its own annual report; restated comparatives are not applied.

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (10 of 10 years from FY2017). The shaded line is the median of 12 other listed Consumer Staples 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
DGL ebitda margin by financial year, with peer median0%20%40%FY17FY18FY20FY22FY24FY26FY2017: DGL 33.3%; peer median 12.0% (5)FY2018: DGL 33.9%; peer median 16.1% (4)FY2019: DGL 33.7%; peer median 14.0% (4)FY2020: DGL 38.6%; peer median 18.4% (4)FY2021: DGL 38.7%; peer median — (1)FY2022: DGL 36.6%; peer median 13.6% (5)FY2023: DGL 33.6%; peer median 10.9% (6)FY2024: DGL 28.3%; peer median 16.2% (8)FY2025: DGL 33.3%; peer median 15.5% (9)FY2026: DGL 30.8%; peer median 14.5% (3)
EBIT margin
DGL ebit margin by financial year, with peer median0%20%40%FY17FY18FY20FY22FY24FY26FY2017: DGL 27.8%; peer median 7.7% (7)FY2018: DGL 28.3%; peer median 9.1% (5)FY2019: DGL 28.1%; peer median 9.7% (5)FY2020: DGL 31.5%; peer median 12.5% (6)FY2021: DGL 31.2%; peer median 5.6% (3)FY2022: DGL 29.4%; peer median 9.8% (5)FY2023: DGL 27.4%; peer median 7.8% (6)FY2024: DGL 21.5%; peer median 12.1% (9)FY2025: DGL 25.5%; peer median 8.2% (10)FY2026: DGL 20.1%; peer median 13.5% (3)
Net margin
DGL net margin by financial year, with peer median0%20%40%FY17FY18FY20FY22FY24FY26FY2017: DGL 16.1%; peer median 5.2% (7)FY2018: DGL 17.2%; peer median 4.3% (5)FY2019: DGL 17.1%; peer median 6.6% (5)FY2020: DGL 21.1%; peer median 8.8% (6)FY2021: DGL 20.4%; peer median 5.3% (3)FY2022: DGL 17.9%; peer median 2.3% (5)FY2023: DGL 17.0%; peer median 1.5% (6)FY2024: DGL 8.3%; peer median 3.4% (9)FY2025: DGL 14.6%; peer median 6.5% (10)FY2026: DGL 10.8%; peer median 10.3% (3)

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

DGL margins by year with peer medians
YearEBITDA margin: DGL · peer median (n)EBIT margin: DGL · peer median (n)Net margin: DGL · peer median (n)Note
FY201733.3%12.0% (5)27.8%7.7% (7)16.1%5.2% (7)
FY201833.9%16.1% (4)28.3%9.1% (5)17.2%4.3% (5)
FY201933.7%14.0% (4)28.1%9.7% (5)17.1%6.6% (5)
FY202038.6%18.4% (4)31.5%12.5% (6)21.1%8.8% (6)
FY202138.7%— (1)31.2%5.6% (3)20.4%5.3% (3)
FY202236.6%13.6% (5)29.4%9.8% (5)17.9%2.3% (5)
FY202333.6%10.9% (6)27.4%7.8% (6)17.0%1.5% (6)
FY202428.3%16.2% (8)21.5%12.1% (9)8.3%3.4% (9)
FY202533.3%15.5% (9)25.5%8.2% (10)14.6%6.5% (10)
FY202630.8%14.5% (3)20.1%13.5% (3)10.8%10.3% (3)

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.

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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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