NZX Governance Explorer

How Metro Performance Glass makes money

Where MPG’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. MPG company profile

How Metro Performance Glass makes money — FY2023

Revenue $263.5m · EBITDA $30.7m (11.7% of revenue) · Net loss $10.5m (-4.0% of revenue) · Financial year ending March (from the issuer record)

Metro Performance Glass (MPG) FY2023: where revenue of $263.5m wentRevenue → EBITDA: $30.7mRevenue → Operating costs (net of other income): $232.8mEBITDA → EBIT: $11.8mEBITDA → Depreciation & amortisation: $19.0mEBIT → Interest: $10.9mEBIT → Other items (net cost): $914kIncome tax credit → Other items (net cost): $133kNet loss → Other items (net cost): $10.5mRevenue: $263.5mRevenue$263.5mEBITDA: $30.7mEBITDA$30.7mOperating costs (net of other income): $232.8m (derived)Operating costs (net ofother income)$232.8m · derivedEBIT: $11.8m (derived)EBIT$11.8m · derivedDepreciation & amortisation: $19.0mDepreciation &amortisation$19.0mIncome tax credit: $133kIncome tax credit$133kNet loss: $10.5mNet loss$10.5mInterest: $10.9mInterest$10.9mOther items (net cost): $11.6m (balancing item)Other items (net cost)$11.6m · 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).

Metro Performance Glass FY2023 figures used in the chart
FY2023AmountStatusNote
Revenue$263.5mReported
Operating costs (net of other income)−$232.8mDerived *Reported operating expenses $94m do not reconcile; not used.
EBITDA$30.7mReported
Depreciation & amortisation−$19.0mReported
EBIT$11.8mDerived *Reported EBIT -$0.2m does not reconcile to EBITDA − D&A.
Interest (net finance costs)−$10.9mReported
Income tax credit+$133kReported
Other items (net cost)−$11.6mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net loss-$10.5mReported
  • * ebit: $11.8m = EBITDA − D&A (reported EBIT -$0.2m differs; the gap falls into Other items)
  • * operating costs: $232.8m = 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 ($263.5m) vs the summary table ($263.5m): agree within 2%.
  • Not met: EBITDA − D&A = $11.8m vs reported EBIT -$0.2m: does not reconcile.
  • Not met: Reported operating expenses ($94m) leave $169.5m, not EBITDA of $30.7m (gap $138.8m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item -$11.6m is 4.4% 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: Metroglass Annual Report for the year ended 31 March 2023 (PDF, NZX)

EBITDA bridge, FY2022 → FY2023

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.

MPG EBITDA bridge FY2022 to FY2023FY2022 EBITDA: $24.6m$24.6mFY2022 EBITDARevenue change: +$27.5m+$27.5mRevenue changeCost change (derived): −$21.3m−$21.3mCost change (derived)FY2023 EBITDA: $30.7m$30.7mFY2023 EBITDA
MPG EBITDA bridge FY2022 to FY2023: figures
StepFY2022FY2023Effect on EBITDAStatus
FY2022 EBITDA$24.6m$24.6mAs charted
Revenue$236.1m$263.5m+$27.5mReported
Operating costs (net, derived)$211.5m$232.8m−$21.3mDerived: revenue − EBITDA
FY2023 EBITDA$30.7m$30.7mAs charted

$24.6m +$27.5m −$21.3m = $30.7m, which equals FY2023 EBITDA of $30.7m. 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 FY2022 to FY2023

MeasureFY2022FY2023ChangeChange %
Revenue$236.1m$263.5m+$27.5m+11.6%
EBITDA$24.6m$30.7m+$6.1m+25.0%
Net profit-$459k-$10.5m−$10.1mn/m
EBITDA margin10.4%11.7%+1.2 pts—
Net margin-0.2%-4.0%−3.8 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 (7 of 10 years from FY2017). The shaded line is the median of 3 other listed Real Estate 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
MPG ebitda margin by financial year, with peer median-20%15%50%FY17FY18FY20FY22FY24FY26FY2017: MPG 18.0%; peer median — (0)FY2018: MPG 15.1%; peer median — (0)FY2019: MPG 11.2%; peer median — (0)FY2020: not charted — operating lossFY2021: MPG 17.0%; peer median — (1)FY2022: MPG 10.4%; peer median 45.6% (2)FY2023: MPG 11.7%; peer median 48.9% (2)FY2024: MPG 10.5%; peer median 34.0% (2)FY2025: not charted — operating lossFY2026: not charted — no net profit
EBIT margin
MPG ebit margin by financial year, with peer median-20%15%50%FY17FY18FY20FY22FY24FY26FY2017: MPG 13.5%; peer median — (0)FY2018: MPG 10.4%; peer median — (0)FY2019: MPG 5.9%; peer median — (0)FY2020: not charted — operating lossFY2021: MPG 8.1%; peer median — (1)FY2022: MPG 2.5%; peer median 44.9% (2)FY2023: MPG 4.5%; peer median 47.0% (2)FY2024: MPG 3.0%; peer median 32.4% (2)FY2025: not charted — operating lossFY2026: not charted — no net profit
Net margin
MPG net margin by financial year, with peer median-20%15%50%FY17FY18FY20FY22FY24FY26FY2017: MPG 7.9%; peer median — (0)FY2018: MPG 6.1%; peer median — (0)FY2019: MPG 1.9%; peer median — (0)FY2020: not charted — operating lossFY2021: MPG 3.7%; peer median — (1)FY2022: MPG -0.2%; peer median 33.2% (2)FY2023: MPG -4.0%; peer median 37.2% (2)FY2024: MPG -11.5%; peer median 20.2% (2)FY2025: not charted — operating lossFY2026: not charted — no net profit

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

MPG margins by year with peer medians
YearEBITDA margin: MPG · peer median (n)EBIT margin: MPG · peer median (n)Net margin: MPG · peer median (n)Note
FY201718.0%— (0)13.5%— (0)7.9%— (0)
FY201815.1%— (0)10.4%— (0)6.1%— (0)
FY201911.2%— (0)5.9%— (0)1.9%— (0)
FY2020—— (0)—— (0)—— (0)Not charted: operating loss
FY202117.0%— (1)8.1%— (1)3.7%— (1)
FY202210.4%45.6% (2)2.5%44.9% (2)-0.2%33.2% (2)
FY202311.7%48.9% (2)4.5%47.0% (2)-4.0%37.2% (2)
FY202410.5%34.0% (2)3.0%32.4% (2)-11.5%20.2% (2)
FY2025—27.4% (2)—24.9% (2)—17.8% (2)Not charted: operating loss
FY2026—— (0)—— (0)—— (0)Not charted: no net profit

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.

  • FY2026: Net profit is not recorded for this year.
  • FY2025: EBIT is -$0.6m. This layout does not draw an operating loss.
  • FY2020: EBITDA is -$46.2m. 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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