New Zealand energy firm Vector's FY26 revenue up 12% on pricing reset

Vector

17/08/2026 21:50

Overview
New Zealand energy firm's FY26 revenue rose 12%, adjusted EBITDA up 20% yr/yr
Net profit after tax for FY26 was NZ$240 mln
Company invested record NZ$512 mln in Auckland's electricity network

Outlook
Vector sees FY27 adjusted EBITDA between NZ$540 mln and NZ$560 mln
Company expects FY27 gross capex of NZ$605 mln to NZ$635 mln
Vector plans to invest at record levels in Auckland's electricity network in FY27

Result Drivers
PRICING RESET - Co said revenue growth reflected the first full year of the Commerce Commission's electricity distribution pricing reset
NETWORK INVESTMENT - Co invested NZ$512 mln in Auckland's electricity network to expand capacity and support new connections
NEW CONNECTIONS - Co connected 13,017 new homes and businesses to its electricity network during the year

Company press release: ID:nNZS85ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
 
NZ$240 mln
 
FY Adjusted EBITDA
 
NZ$482 mln
 
FY Capex
 
NZ$544 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the multiline utilities peer group is "buy."
Wall Street's median 12-month price target for Vector Ltd is NZ$4.85, about 0.6% below its August 17 closing price of NZ$4.88
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 18 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)