NZX Governance Explorer

How Rakon Limited makes money

Where RAK’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. RAK company profile

How Rakon Limited makes money — FY2022

Revenue $172.0m · EBITDA $54.4m (31.6% of revenue) · Net profit $33.1m (19.3% of revenue) · Financial year ending March (from the issuer record)

Rakon Limited (RAK) FY2022: where revenue of $172.0m wentRevenue → EBITDA: $54.4mRevenue → Operating costs (net of other income): $117.6mEBITDA → EBIT: $45.5mEBITDA → Depreciation & amortisation: $8.9mEBIT → Net profit: $33.1mEBIT → Interest, tax and other items (net cost): $12.4mRevenue: $172.0mRevenue$172.0mEBITDA: $54.4mEBITDA$54.4mOperating costs (net of other income): $117.6m (derived)Operating costs (net ofother income)$117.6m · derivedEBIT: $45.5m (derived)EBIT$45.5m · derivedDepreciation & amortisation: $8.9mDepreciation &amortisation$8.9mNet profit: $33.1mNet profit$33.1mInterest, tax and other items (net cost): $12.4m (balancing item)Interest, tax and otheritems (net cost)$12.4m · 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).

Rakon Limited FY2022 figures used in the chart
FY2022AmountStatusNote
Revenue$172.0mReported
Operating costs (net of other income)−$117.6mDerived *Reported operating expenses $49.3m do not reconcile; not used.
EBITDA$54.4mReported
Depreciation & amortisation−$8.9mReported
EBIT$45.5mDerived *Reported EBIT $41.4m does not reconcile to EBITDA − D&A.
Interest—Not reportedIncluded in the balancing item.
Income tax—Not reportedIncluded in the balancing item.
Interest, tax and other items (net cost)−$12.4mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$33.1mReported
  • * ebit: $45.5m = EBITDA − D&A (reported EBIT $41.4m differs; the gap falls into Other items)
  • * operating costs: $117.6m = 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 ($172m) vs the summary table ($172m): agree within 2%.
  • Not met: EBITDA − D&A = $45.5m vs reported EBIT $41.4m: does not reconcile.
  • Not met: Reported operating expenses ($49.3m) leave $122.7m, not EBITDA of $54.4m (gap $68.3m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item -$12.4m is 7.2% 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: FY22 Annual Report (PDF, NZX)

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

Bridge not available: FY2021 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 (3 of 9 years from FY2017). The shaded line is the median of 7 other listed Information Technology 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
RAK ebitda margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: not charted — not from annual reportFY2020: not charted — not from annual reportFY2021: not charted — not from annual reportFY2022: RAK 31.6%; peer median — (1)FY2023: RAK 23.4%; peer median — (0)FY2024: RAK 10.5%; peer median 13.8% (3)FY2025: not charted — operating loss
EBIT margin
RAK ebit margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: not charted — not from annual reportFY2020: not charted — not from annual reportFY2021: not charted — not from annual reportFY2022: RAK 26.4%; peer median — (1)FY2023: RAK 18.5%; peer median — (0)FY2024: RAK 4.2%; peer median 5.4% (3)FY2025: not charted — operating loss
Net margin
RAK net margin by financial year, with peer median-10%15%40%FY17FY18FY20FY22FY24FY25FY2017: not charted — not from annual reportFY2018: not charted — not from annual reportFY2019: not charted — not from annual reportFY2020: not charted — not from annual reportFY2021: not charted — not from annual reportFY2022: RAK 19.3%; peer median — (1)FY2023: RAK 12.9%; peer median — (0)FY2024: RAK 3.5%; peer median 4.5% (3)FY2025: not charted — operating loss

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

RAK margins by year with peer medians
YearEBITDA margin: RAK · peer median (n)EBIT margin: RAK · peer median (n)Net margin: RAK · peer median (n)Note
FY2017—27.6% (2)—23.3% (2)—12.5% (2)Not charted: not from annual report
FY2018—15.7% (2)—13.3% (2)—5.8% (2)Not charted: not from annual report
FY2019—16.6% (2)—12.3% (2)—-0.0% (2)Not charted: not from annual report
FY2020—— (1)—— (1)—— (1)Not charted: not from annual report
FY2021—— (1)—— (1)—— (1)Not charted: not from annual report
FY202231.6%— (1)26.4%— (1)19.3%— (1)
FY202323.4%— (0)18.5%— (0)12.9%— (0)
FY202410.5%13.8% (3)4.2%5.4% (3)3.5%4.5% (3)
FY2025—15.0% (3)—5.9% (3)—7.6% (3)Not charted: operating loss

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.

  • FY2025: EBIT is -$0.3m. This layout does not draw an operating loss.
  • FY2021: Figures were not read from a filed annual report (source: not recorded).
  • FY2020: Figures were not read from a filed annual report (source: not recorded).
  • FY2019: Figures were not read from a filed annual report (source: not recorded).
  • 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).

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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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