NZX Governance Explorer

How NZME Limited makes money

Where NZM’s revenue went in FY2018: 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 — FY2018

Revenue $388.9m · EBITDA $54.7m (14.1% of revenue) · Net profit $20.9m (5.4% of revenue) · Financial year ending December (from the issuer record)

NZME Limited (NZM) FY2018: where revenue of $388.9m wentRevenue → EBITDA: $54.7mRevenue → Operating costs (net of other income): $334.2mEBITDA → EBIT: $30.1mEBITDA → Depreciation & amortisation: $24.6mEBIT → Net profit: $20.8mEBIT → Interest: $4.6mEBIT → Income tax: $4.8mRevenue: $388.9mRevenue$388.9mEBITDA: $54.7mEBITDA$54.7mOperating costs (net of other income): $334.2m (derived)Operating costs (net ofother income)$334.2m · derivedEBIT: $30.1m (derived)EBIT$30.1m · derivedDepreciation & amortisation: $24.6mDepreciation &amortisation$24.6mNet profit: $20.9mNet profit$20.9mInterest: $4.6mInterest$4.6mIncome tax: $4.8mIncome tax$4.8m

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 FY2018 figures used in the chart
FY2018AmountStatusNote
Revenue$388.9mReported
Operating costs (net of other income)−$334.2mDerived *Reported operating expenses $343.5m do not reconcile; not used.
EBITDA$54.7mReported
Depreciation & amortisation−$24.6mReported
EBIT$30.1mDerived *Reported EBIT $18.2m does not reconcile to EBITDA − D&A.
Interest (net finance costs)−$4.6mReported
Income tax−$4.8mReported
Other items (net gain)+$207kBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$20.9mReported
  • * ebit: $30.1m = EBITDA − D&A (reported EBIT $18.2m differs; the gap falls into Other items)
  • * operating costs: $334.2m = 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 ($388.9m) vs the summary table ($389m): agree within 2%.
  • Not met: EBITDA − D&A = $30.1m vs reported EBIT $18.2m: does not reconcile.
  • Not met: Reported operating expenses ($343.5m) leave $45.4m, not EBITDA of $54.7m (gap -$9.3m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $0.2m is 0.1% 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.

EBITDA bridge, FY2017 → FY2018

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.

NZM EBITDA bridge FY2017 to FY2018FY2017 EBITDA: $66.2m$66.2mFY2017 EBITDARevenue change: −$1.8m−$1.8mRevenue changeCost change (derived): −$9.7m−$9.7mCost change (derived)FY2018 EBITDA: $54.7m$54.7mFY2018 EBITDA
NZM EBITDA bridge FY2017 to FY2018: figures
StepFY2017FY2018Effect on EBITDAStatus
FY2017 EBITDA$66.2m$66.2mAs charted
Revenue$390.7m$388.9m−$1.8mReported
Operating costs (net, derived)$324.5m$334.2m−$9.7mDerived: revenue − EBITDA
FY2018 EBITDA$54.7m$54.7mAs charted

$66.2m −$1.8m −$9.7m = $54.7m, which equals FY2018 EBITDA of $54.7m. 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 FY2017 to FY2018

MeasureFY2017FY2018ChangeChange %
Revenue$390.7m$388.9m−$1.8m−0.5%
EBITDA$66.2m$54.7m−$11.5m−17.4%
Net profit$20.9m$20.9m+$15k+0.1%
EBITDA margin16.9%14.1%−2.9 pts—
Net margin5.3%5.4%+0.0 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 (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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