Its reporting season in New Zealand in May and these 5 ASX companies are about to report annual results

Its always reporting season in New Zealand in May as well as November, because many companies there follow an April 1-March 31 financial year.

While there are some exemptions that follow the calendar or Australian financial years (July to June), many Kiwi companies still use the Kiwi financial year. And they can do so as long as they adhere to the ASX’s requirements to release results within 2 months after the end of the financial year.

And as that 2 months after the end of New Zealand’s reporting season is in May, we’ll see quite a few companies report in the coming week, and let’s take a look at some of them.

5 ASX companies releasing results during reporting season in New Zealand

AFT Pharmaceuticals (NZX/ASX:AFP)

AFT just might be the most underestimated of all New Zealand stocks listed in Australia – especially those that maintain a dual listing on the ASX and NZX. It is a pharmaceutical company that distributes other companies’ medicines as well as that of its own. Its flagship drug is pain-killing drug Maxigesic. It is licensed in over 100 countries all up, in tablet, IV and oral (i.e. drink) forms, for the treatment of mild to moderate pain experienced post-operations.

That said, there’ll be pressure to deliver from investors. It made $195.4m in FY24, representing a CAGR growth of 18% in 5 years, and is planning to reach $300m in rolling annual revenue by the end of FY27. The key thing investors will be looking for is whether the company is on track to reach that. They’ll know on Thursday May 22.

Xero (ASX:XRO)

Unlike other stocks on this list, Xero is delisted from the NZX, but we are keeping it here because it has retained the NZX’s reporting season. There’s no doubt that Xero is New Zealand’s best known business export to Australia, at least if you’re only judging it by wealth generation.

In FY24 – the 12 months to March 31, 2024 – the company recorded:

• NZ$1.7bn in revenue (up 22%),
• 4.16m subscribers (up 11% and 419,000 from 12 months prior),
• $39.29 in average revenue per user (up 14%)
• An 88% gross margin
• A $174.6m profit (compared to a $113m loss in the year before).

So far as specific guidance for FY25 is concerned, it has only given these points:

• Keeping total operating expenses as a percentage of revenue to around 73%.
• Abiding by Rule of 40. This states that if a SaaS company’s revenue growth rate is added to its profit margin, the combined value should exceed 40%. This was achieved in FY24.
• The goal of doubling revenues by the end of FY27.

Investors will watch closely to see if the company reaches or is on track for them. Pencil in Thursday May 15 as the day the company will release results.

ERoad  (NZX/ASX:ERD)

ERoad is a SaaS company delivering safety, compliance, sustainability and efficiency solutions for vehicle fleets. It is New Zealand’s market leader in GPS-based road user charging systems. ERoad will release results on Monday May 26. In late November 2024, the company said it was on track to reach its full year guidance which was:

• $190-195m revenue
• $5-10m EBIT
• Cash flow positive for FY25, and
• $35m in R&D spending, from $32m previously.

When Trump’s tariffs wreaked havoc on the markets, the company told investors that there wouldn’t be any tariffs – and fair enough because its period ended at the end of March, right before ‘Liberation Day’. The company makes 44% of revenue from the US, of which 88% is not subject to tariffs.

That said, ERoad produces its hardware in Indonesia, the Philippines and Vietnam and the company said it was examining options to reduce the impact such as shifting to other geographies and refurbishing existing US-based hardware. Expect to hear more later this month when it releases results to the ASX and NZX.

Infratil (NZX/ASX:IFT)

Infratril will report on May 28. Infratil is an investor in infrastructure and one of its assets is a minority stake in Canberra data centre business CDC. CDC is the largest private operator in Australia with 268Mq in capacity operational and another 265mw under construction across Australia and New Zealand. It has big contracts with government departments and cloud companies such as Microsoft.

The company has provided ‘adjusted FY2025 Proportionate Operational EBITDAF’ guidance of NZ$951-991m (previously NZ$960-1,000m). The latest update issued to the NZX came in mid-February when investee company Manawa Energy (Infratil owns a 51% stake) updated its own EBITDAF guidance. The F in EBITDAF stands for financial derivative movements for those wondering.

Pacific Edge (NZX/ASX:PEB)

No specific date has been released, but results will be out by the end of May. Pacific Edge is the company behind Cxbladder, a suite of non-invasive genomic urine tests optimised to help rule out urothelial bladder cancer in patients being monitored for recurrent non-muscle invasive disease, and in those presenting with microhematuria (which is blood in the urine invisible to the naked eye and confirmed via testing). This company is not yet profitable, so investors will be watching to see the progress it has made towards break-even.

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