NZX Governance Explorer

How EROAD makes money

Where ERD’s revenue went in FY2019: 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. ERD company profile

How EROAD makes money — FY2019

Revenue $61.4m · EBITDA $15.6m (25.4% of revenue) · Net loss $4.9m (-8.0% of revenue) · Financial year ending March (from the issuer record)

EROAD (ERD) FY2019: where revenue of $61.4m wentRevenue → EBITDA: $15.6mRevenue → Operating costs (net of other income): $45.8mEBITDA → EBIT: $60kEBITDA → Depreciation & amortisation: $15.5mEBIT → Interest: $60kIncome tax credit → Interest: $1.2mIncome tax credit → Other items (net cost): $555kNet loss → Other items (net cost): $4.9mRevenue: $61.4mRevenue$61.4mEBITDA: $15.6mEBITDA$15.6mOperating costs (net of other income): $45.8m (derived)Operating costs (net ofother income)$45.8m · derivedEBIT: $60k (derived)EBIT$60k · derivedDepreciation & amortisation: $15.5mDepreciation &amortisation$15.5mIncome tax credit: $1.8mIncome tax credit$1.8mNet loss: $4.9mNet loss$4.9mInterest: $1.3mInterest$1.3mOther items (net cost): $5.5m (balancing item)Other items (net cost)$5.5m · 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).

EROAD FY2019 figures used in the chart
FY2019AmountStatusNote
Revenue$61.4mReported
Operating costs (net of other income)−$45.8mDerived *Reported operating expenses $36.5m do not reconcile; not used.
EBITDA$15.6mReported
Depreciation & amortisation−$15.5mReported
EBIT$60kDerived *Reported EBIT -$0.5m does not reconcile to EBITDA − D&A.
Interest (net finance costs)−$1.3mReported
Income tax credit+$1.8mReported
Other items (net cost)−$5.5mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net loss-$4.9mReported
  • * ebit: $60k = EBITDA − D&A (reported EBIT -$0.5m 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 ($61.4m) vs the summary table ($61.4m): agree within 2%.
  • Not met: EBITDA − D&A = $0.1m vs reported EBIT -$0.5m: does not reconcile.
  • Not met: Reported operating expenses ($36.5m) leave $24.8m, not EBITDA of $15.6m (gap $9.2m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item -$5.5m is 8.9% 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 7 March 2026.

Annual report: A year of good progress delivers double-digit growth (PDF, NZX)

Year-on-year EBITDA bridge (FY2018 → FY2019)

Bridge not available: FY2018 is not charted: Figures were not read from a filed annual report (source: not recorded).

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (4 of 9 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
ERD ebitda margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: ERD 25.4%; peer median 8.7% (7)FY2020: not charted — no EBITDA/EBIT splitFY2021: not charted — no EBITDA/EBIT splitFY2022: not charted — operating lossFY2023: ERD 25.8%; peer median 15.0% (11)FY2024: ERD 29.3%; peer median 13.9% (9)FY2025: ERD 30.7%; peer median 14.6% (12)
EBIT margin
ERD ebit margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: ERD 0.1%; peer median 6.4% (9)FY2020: not charted — no EBITDA/EBIT splitFY2021: not charted — no EBITDA/EBIT splitFY2022: not charted — operating lossFY2023: ERD 1.0%; peer median 8.6% (12)FY2024: ERD 0.4%; peer median 7.1% (10)FY2025: ERD 3.5%; peer median 7.9% (12)
Net margin
ERD net margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: ERD -8.0%; peer median 4.7% (9)FY2020: not charted — no EBITDA/EBIT splitFY2021: not charted — no EBITDA/EBIT splitFY2022: not charted — operating lossFY2023: ERD -1.7%; peer median 6.1% (12)FY2024: ERD -0.2%; peer median 3.2% (10)FY2025: ERD 0.7%; peer median 5.2% (12)

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

ERD margins by year with peer medians
YearEBITDA margin: ERD · peer median (n)EBIT margin: ERD · peer median (n)Net margin: ERD · peer median (n)Note
FY2017—13.1% (6)—9.0% (6)—6.0% (6)Not charted: not from annual report
FY2018—11.2% (8)—7.2% (8)—6.4% (8)Not charted: not from annual report
FY201925.4%8.7% (7)0.1%6.4% (9)-8.0%4.7% (9)
FY2020—14.0% (7)—6.7% (8)—6.3% (8)Not charted: no EBITDA/EBIT split
FY2021—13.2% (9)—6.1% (11)—5.0% (11)Not charted: no EBITDA/EBIT split
FY2022—14.0% (8)—8.4% (10)—6.5% (10)Not charted: operating loss
FY202325.8%15.0% (11)1.0%8.6% (12)-1.7%6.1% (12)
FY202429.3%13.9% (9)0.4%7.1% (10)-0.2%3.2% (10)
FY202530.7%14.6% (12)3.5%7.9% (12)0.7%5.2% (12)

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.

  • FY2022: EBIT is -$7.2m. This layout does not draw an operating loss.
  • FY2021: EBITDA is recorded but neither EBIT nor depreciation is, so the step from operating profit to net profit cannot be placed.
  • FY2020: EBITDA is recorded but neither EBIT nor depreciation is, so the step from operating profit to net profit cannot be placed.
  • FY2018: Figures were not read from a filed annual report (source: not recorded).
  • FY2017: Figures were not read from a filed annual report (source: not recorded).

All companies with a chart

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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