NZX Governance Explorer

How Precinct Properties New Zealand Limited makes money

Where PCT’s revenue went in FY2022: 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. PCT company profile

How Precinct Properties New Zealand Limited makes money — FY2022

Revenue $200.3m · EBITDA $110.0m (54.9% of revenue) · Net profit $110.0m (54.9% of revenue) · Financial year ending June (from the issuer record)

Precinct Properties New Zealand Limited (PCT) FY2022: where revenue of $200.3m wentRevenue → EBITDA: $110.0mRevenue → Operating costs (net of other income): $90.3mEBITDA → EBIT: $95.3mEBITDA → Depreciation & amortisation: $14.7mEBIT → Net profit: $95.3mIncome tax credit → Net profit: $7.0mOther items (net gain) → Net profit: $7.7mOther items (net gain) → Interest: $23.9mRevenue: $200.3mRevenue$200.3mEBITDA: $110.0m (derived)EBITDA$110.0m · derivedOperating costs (net of other income): $90.3m (derived)Operating costs (net ofother income)$90.3m · derivedEBIT: $95.3mEBIT$95.3mDepreciation & amortisation: $14.7mDepreciation &amortisation$14.7mIncome tax credit: $7.0mIncome tax credit$7.0mOther items (net gain): $31.6m (balancing item)Other items (net gain)$31.6m · balancingNet profit: $110.0mNet profit$110.0mInterest: $23.9mInterest$23.9m

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).

Precinct Properties New Zealand Limited FY2022 figures used in the chart
FY2022AmountStatusNote
Revenue$200.3mReported
Operating costs (net of other income)−$90.3mDerived *Reported operating expenses $34.1m do not reconcile; not used.
EBITDA$110.0mDerived *
Depreciation & amortisation−$14.7mReported
EBIT$95.3mReported
Interest (net finance costs)−$23.9mReported
Income tax credit+$7.0mReported
Other items (net gain)+$31.6mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$110.0mReported
  • * ebitda: $110.0m = EBIT + depreciation & amortisation
  • * operating costs: $90.3m = 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 ($200.3m) vs the summary table ($200.3m): agree within 2%.
  • Passed: EBITDA − D&A = $95.3m vs reported EBIT $95.3m: reconciles.
  • Not met: Reported operating expenses ($34.1m) leave $166.2m, not EBITDA of $110m (gap $56.2m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $31.6m is 15.8% of revenue (limit 25%).
  • Not met: Segment(s) with negative revenue that are not eliminations (Property operating expenses); not drawn.

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: Download (PDF, NZX)

Year-on-year EBITDA bridge (FY2021 → FY2022)

Bridge not available: EBITDA isn't a meaningful measure for banks, insurers and property trusts; sector-specific measures (net interest margin, combined ratio, FFO) are not yet held.

Margins over time

Net profit as a share of revenue for each year whose figures passed the checks (1 of 10 years from FY2017). The shaded line is the median of 9 other listed Real Estate property trusts, 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.

Net margin
PCT net margin by financial year, with peer median0%30%60%FY17FY18FY20FY22FY24FY26FY2017: not charted — unexplained residualFY2018: not charted — unexplained residualFY2019: not charted — unexplained residualFY2020: not charted — unexplained residualFY2021: not charted — unexplained residualFY2022: PCT 54.9%; peer median 58.6% (2)FY2023: not charted — unexplained residualFY2024: not charted — unexplained residualFY2025: not charted — unexplained residualFY2026: not charted — unexplained residual

PCT   peer median   below the axis: year not charted (reason in the table).

PCT margins by year with peer medians
YearNet margin: PCT · peer median (n)Note
FY2017—— (1)Not charted: unexplained residual
FY2018—— (1)Not charted: unexplained residual
FY2019—49.9% (2)Not charted: unexplained residual
FY2020—— (0)Not charted: unexplained residual
FY2021—— (0)Not charted: unexplained residual
FY202254.9%58.6% (2)
FY2023—— (0)Not charted: unexplained residual
FY2024—— (1)Not charted: unexplained residual
FY2025—30.5% (4)Not charted: unexplained residual
FY2026—36.2% (2)Not charted: unexplained residual

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: After placing every reported line, -$114.1m (41% 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.
  • FY2025: After placing every reported line, -$77.3m (29% 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.
  • FY2024: After placing every reported line, -$85.8m (35% 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.
  • FY2023: After placing every reported line, -$219.2m (100% 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.
  • FY2021: After placing every reported line, $90.2m (45% 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.
  • FY2020: After placing every reported line, -$49.3m (32% 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.
  • FY2019: After placing every reported line, $124.7m (92% 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.
  • FY2018: After placing every reported line, $180.5m (138% 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.
  • FY2017: After placing every reported line, $90.8m (72% 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.
  • FY2016: After placing every reported line, $76.4m (52% 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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