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Dual-listed health and animal-care company Ebos has lowered its 2026 earnings guidance on the back of additional costs caused by the Iran war.
The company said on Wednesday it now expected underlying ebitda to be between A$610 million and A$620m, from earlier guidance of between A$615m and A$635m. That reflected additional costs of A$5m to A$10m, it said.
"Fuel prices have increased materially in recent months, driven by global supply dislocation and heightened geopolitical risks. In addition, there is a lesser impact on the price of hydrocarbon related consumable products, for example plastic wrapping and polystyrene foam. This has resulted in higher direct transport, consumables and logistics costs across the Group’s operations."
Earlier this month, analysts at Craigs Investment Partners had estimated Ebos' monthly freight costs could increase by up to $2.5m a month, due to the war in Iran.
Immigration Minister Erica Stanford says the Active Investor Plus (AIP) visa has already led to $1.49 billion of investment, with another $2.415b in the pipeline in its first year. Private lending was now at almost $900 million, with over $480m already in place. “Investments in private credit by AIP investors has had a significant impact for businesses looking to diversify their sources of capital and access more flexible lending arrangements, but who do not want to dilute equity in the business,” Stanford said. She said sectors that were already benefiting were aged care, healthcare, horticulture, data centres, digital media and technology, tourism, FMCG exporting, manufacturing and dental tech. Since the refresh of the policy a year ago, 609 applications had been received from 1988 people. The growth category remained the most popular, with most investment coming through managed funds, Stanford said.
Air New Zealand chief financial officer Richard Thomson has resigned from his role and will leave the airline on August 28.
Thomson rejoined Air New Zealand as CFO in March 2021 as the airline grappled with Covid-related border closures which triggered redundancies and an exodus from senior management positions.
Thomson had been CFO of Metlifecare for three years, but before that he spent 12 years in senior commercial and finance roles within the airline.
Air New Zealand CEO Nikhil Ravishankar said Thomson had been an exceptional leader during “one of the most significant periods” in the airline’s history.
“He has brought deep financial expertise, strong commercial judgement, and a calm disciplined approach to the role. Richard is highly respected across Air New Zealand, the capital markets and the aviation sector and has made a lasting contribution to the airline.”
Air NZ said it has already commenced a search for a new CFO and will update the market when the process is complete.
Electricity generator and retailer Mercury has upgraded its forecast earnings for the year to June, citing higher renewable generation and “disciplined portfolio management”.
In a statement to the NZX, Mercury said it expected earnings before interest, tax, depreciation, amortisation and financial instruments of $1.05 billion for the year, up from previous guidance in February of $1b.
Operating data showed hydro generation for the nine months to March of 3349GWh, up from 2541GWh for the same period a year earlier.
The volume weighted average energy-only price for mass market customers, which includes residential customers, was $200 a MWh for the three months to March, up 12% on the same quarter the previous year.
The VWAP for commercial and industrial customers was down 1% to $137.44 a MWh for the same period.
