NZX Governance Explorer

How Turners Automotive Group makes money

Where TRA’s revenue went in FY2026: 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. TRA company profile

How Turners Automotive Group makes money — FY2026

Revenue $451.2m · EBITDA $67.1m (14.9% of revenue) · Net profit $38.2m (8.5% of revenue) · Financial year ending March (from the issuer record)

Turners Automotive Group (TRA) FY2026: where revenue of $451.2m wentRevenue → EBITDA: $67.1mRevenue → Operating costs (net of other income): $384.1mEBITDA → EBIT: $56.0mEBITDA → Depreciation & amortisation: $11.1mEBIT → Net profit: $38.2mEBIT → Interest: $17.8mOther items (net gain) → Interest: $10.3mOther items (net gain) → Income tax: $17.6mRevenue: $451.2mRevenue$451.2mEBITDA: $67.1m (derived)EBITDA$67.1m · derivedOperating costs (net of other income): $384.1m (derived)Operating costs (net ofother income)$384.1m · derivedEBIT: $56.0mEBIT$56.0mDepreciation & amortisation: $11.1mDepreciation &amortisation$11.1mOther items (net gain): $27.9m (balancing item)Other items (net gain)$27.9m · balancingNet profit: $38.2mNet profit$38.2mInterest: $28.1mInterest$28.1mIncome tax: $17.6mIncome tax$17.6m

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).

Turners Automotive Group FY2026 figures used in the chart
FY2026AmountStatusNote
Revenue$451.2mReported
Operating costs (net of other income)−$384.1mDerived *Reported operating expenses $176.5m do not reconcile; not used.
EBITDA$67.1mDerived *
Depreciation & amortisation−$11.1mReported
EBIT$56.0mReported
Interest (net finance costs)−$28.1mReported
Income tax−$17.6mReported
Other items (net gain)+$27.9mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$38.2mReported
  • * ebitda: $67.1m = EBIT + depreciation & amortisation
  • * operating costs: $384.1m = 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 ($451.2m) vs the summary table ($451.2m): agree within 2%.
  • Passed: EBITDA − D&A = $56m vs reported EBIT $56m: reconciles.
  • Not met: Reported operating expenses ($176.5m) leave $274.7m, not EBITDA of $67.1m (gap $207.6m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $27.9m is 6.2% 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 12 June 2026.

Annual report: Turners FY26 Annual Report (PDF, NZX)

EBITDA bridge, FY2025 → FY2026

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.

TRA EBITDA bridge FY2025 to FY2026FY2025 EBITDA: $66.1m$66.1mFY2025 EBITDARevenue change: +$37.2m+$37.2mRevenue changeCost change (derived): −$36.3m−$36.3mCost change (derived)FY2026 EBITDA: $67.1m$67.1mFY2026 EBITDA
TRA EBITDA bridge FY2025 to FY2026: figures
StepFY2025FY2026Effect on EBITDAStatus
FY2025 EBITDA$66.1m$66.1mAs charted
Revenue$414.0m$451.2m+$37.2mReported
Operating costs (net, derived)$347.9m$384.1m−$36.3mDerived: revenue − EBITDA
FY2026 EBITDA$67.1m$67.1mAs charted

$66.1m +$37.2m −$36.3m = $67.1m, which equals FY2026 EBITDA of $67.1m. 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 FY2025 to FY2026

MeasureFY2025FY2026ChangeChange %
Revenue$414.0m$451.2m+$37.2m+9.0%
EBITDA$66.1m$67.1m+$950k+1.4%
Net profit$38.6m$38.2m−$387k−1.0%
EBITDA margin16.0%14.9%−1.1 pts—
Net margin9.3%8.5%−0.9 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 (9 of 10 years from FY2017). The shaded line is the median of 13 other listed Consumer Discretionary 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
TRA ebitda margin by financial year, with peer median0%10%20%FY17FY18FY20FY22FY24FY26FY2017: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2018: TRA 11.2%; peer median 12.0% (7)FY2019: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2020: not charted — no EBITDA/EBIT splitFY2021: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2022: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2023: TRA 13.4%; peer median 14.1% (5)FY2024: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2025: TRA 16.0%; peer median 13.1% (7)FY2026: TRA 14.9%; peer median 18.4% (5)
EBIT margin
TRA ebit margin by financial year, with peer median0%10%20%FY17FY18FY20FY22FY24FY26FY2017: TRA 9.9%; peer median 12.0% (6)FY2018: TRA 9.5%; peer median 8.7% (7)FY2019: TRA 14.3%; peer median 13.6% (7)FY2020: not charted — no EBITDA/EBIT splitFY2021: TRA 12.6%; peer median 8.7% (10)FY2022: TRA 13.8%; peer median 7.5% (10)FY2023: TRA 13.4%; peer median 11.5% (7)FY2024: TRA 14.1%; peer median 7.8% (7)FY2025: TRA 13.2%; peer median 7.2% (7)FY2026: TRA 12.4%; peer median 11.5% (6)
Net margin
TRA net margin by financial year, with peer median0%10%20%FY17FY18FY20FY22FY24FY26FY2017: TRA 7.0%; peer median 7.9% (6)FY2018: TRA 7.1%; peer median 3.0% (7)FY2019: TRA 6.7%; peer median 7.0% (7)FY2020: not charted — no EBITDA/EBIT splitFY2021: TRA 9.1%; peer median 4.8% (10)FY2022: TRA 9.1%; peer median 3.6% (10)FY2023: TRA 8.4%; peer median 7.5% (7)FY2024: TRA 7.9%; peer median 4.3% (7)FY2025: TRA 9.3%; peer median 1.9% (7)FY2026: TRA 8.5%; peer median 6.0% (6)

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

TRA margins by year with peer medians
YearEBITDA margin: TRA · peer median (n)EBIT margin: TRA · peer median (n)Net margin: TRA · peer median (n)Note
FY2017—13.1% (5)9.9%12.0% (6)7.0%7.9% (6)EBITDA not recorded or derivable for this year (EBIT only)
FY201811.2%12.0% (7)9.5%8.7% (7)7.1%3.0% (7)
FY2019—16.6% (5)14.3%13.6% (7)6.7%7.0% (7)EBITDA not recorded or derivable for this year (EBIT only)
FY2020—16.4% (8)—7.1% (8)—4.0% (8)Not charted: no EBITDA/EBIT split
FY2021—14.3% (10)12.6%8.7% (10)9.1%4.8% (10)EBITDA not recorded or derivable for this year (EBIT only)
FY2022—12.1% (8)13.8%7.5% (10)9.1%3.6% (10)EBITDA not recorded or derivable for this year (EBIT only)
FY202313.4%14.1% (5)13.4%11.5% (7)8.4%7.5% (7)
FY2024—13.3% (6)14.1%7.8% (7)7.9%4.3% (7)EBITDA not recorded or derivable for this year (EBIT only)
FY202516.0%13.1% (7)13.2%7.2% (7)9.3%1.9% (7)
FY202614.9%18.4% (5)12.4%11.5% (6)8.5%6.0% (6)

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.

  • FY2020: Neither EBITDA nor EBIT is recorded, so operating profit cannot be placed.

All companies with a chart

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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