NZX Governance Explorer

How NZME Limited makes money

Where NZM’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. NZM company profile

How NZME Limited makes money — FY2025

Revenue $341.3m · EBITDA $56.3m (16.5% of revenue) · Net profit $13.1m (3.8% of revenue) · Financial year ending December (from the issuer record)

NZME Limited (NZM) FY2025: where revenue of $341.3m wentAudio → Revenue: $122.0mRevenue → EBITDA: $56.3mRevenue → Operating costs (net of other income): $285.0mEBITDA → EBIT: $25.3mEBITDA → Depreciation & amortisation: $31.0mEBIT → Net profit: $13.1mEBIT → Interest: $6.7mEBIT → Income tax: $5.6mPublishing → Revenue: $188.6mOneRoof → Revenue: $28.5mOther → Revenue: $2.2mAudio: $122.0mAudio$122.0mPublishing: $188.6mPublishing$188.6mOneRoof: $28.5mOneRoof$28.5mOther: $2.2mOther$2.2mRevenue: $341.3mRevenue$341.3mEBITDA: $56.3m (derived)EBITDA$56.3m · derivedOperating costs (net of other income): $285.0m (derived)Operating costs (net ofother income)$285.0m · derivedEBIT: $25.3mEBIT$25.3mDepreciation & amortisation: $31.0mDepreciation &amortisation$31.0mNet profit: $13.1mNet profit$13.1mInterest: $6.7mInterest$6.7mIncome tax: $5.6mIncome tax$5.6m

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).

NZME Limited FY2025 figures used in the chart
FY2025AmountStatusNote
Revenue$341.3mReported
Operating costs (net of other income)−$285.0mDerived *Reported operating expenses $289.3m do not reconcile; not used.
EBITDA$56.3mDerived *
Depreciation & amortisation−$31.0mReported
EBIT$25.3mReported
Interest (net finance costs)−$6.7mReported
Income tax−$5.6mReported
Other items (net gain)+$0Balancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$13.1mReported
  • * ebitda: $56.3m = EBIT + depreciation & amortisation
  • * operating costs: $285.0m = 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 ($341.3m) vs the summary table ($341.3m): agree within 2%.
  • Passed: EBITDA − D&A = $25.3m vs reported EBIT $25.3m: reconciles.
  • Not met: Reported operating expenses ($289.3m) leave $52m, not EBITDA of $56.3m (gap -$4.3m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $0m is 0.0% of revenue (limit 25%).
  • Passed: Operating segments sum to $341.3m, within 0.0% of revenue.

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: NZME Limited Annual Report (PDF, NZX)

Year-on-year EBITDA bridge (FY2024 → FY2025)

Bridge not available: FY2024 is not charted: Figures were not read from a filed annual report (source: yahoo_finance).

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (5 of 9 years from FY2017). The shaded line is the median of 3 other listed Communication Services 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
NZM ebitda margin by financial year, with peer median0%15%30%FY17FY18FY20FY22FY24FY25FY2017: NZM 16.9%; peer median — (0)FY2018: NZM 14.1%; peer median — (1)FY2019: not charted — unexplained residualFY2020: NZM 15.7%; peer median — (1)FY2021: NZM 15.8%; peer median — (1)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — not from annual reportFY2025: NZM 16.5%; peer median 22.2% (2)
EBIT margin
NZM ebit margin by financial year, with peer median0%15%30%FY17FY18FY20FY22FY24FY25FY2017: NZM 7.5%; peer median — (0)FY2018: NZM 7.8%; peer median — (1)FY2019: not charted — unexplained residualFY2020: NZM 6.4%; peer median — (1)FY2021: NZM 8.2%; peer median — (1)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — not from annual reportFY2025: NZM 7.4%; peer median 8.3% (2)
Net margin
NZM net margin by financial year, with peer median0%15%30%FY17FY18FY20FY22FY24FY25FY2017: NZM 5.3%; peer median — (0)FY2018: NZM 5.4%; peer median — (1)FY2019: not charted — unexplained residualFY2020: NZM 4.5%; peer median — (1)FY2021: NZM 9.9%; peer median — (1)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: not charted — not from annual reportFY2025: NZM 3.8%; peer median 4.8% (2)

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

NZM margins by year with peer medians
YearEBITDA margin: NZM · peer median (n)EBIT margin: NZM · peer median (n)Net margin: NZM · peer median (n)Note
FY201716.9%— (0)7.5%— (0)5.3%— (0)
FY201814.1%— (1)7.8%— (1)5.4%— (1)
FY2019—— (1)—— (1)—— (1)Not charted: unexplained residual
FY202015.7%— (1)6.4%— (1)4.5%— (1)
FY202115.8%— (1)8.2%— (1)9.9%— (1)
FY2022—— (1)—— (1)—— (1)Not charted: not from annual report
FY2023—— (1)—— (1)—— (1)Not charted: not from annual report
FY2024—— (1)—— (1)—— (1)Not charted: not from annual report
FY202516.5%22.2% (2)7.4%8.3% (2)3.8%4.8% (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.

  • FY2024: Figures were not read from a filed annual report (source: yahoo_finance).
  • FY2023: Figures were not read from a filed annual report (source: yahoo_finance).
  • FY2022: Figures were not read from a filed annual report (source: yahoo_finance).
  • FY2019: After placing every reported line, -$205.3m (55% 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.

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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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