Gentrack delivers strong FY25 revenue, profit growth

Gentrack Group reported an 8% increase in group revenue to NZ$230.2 million for FY25, with recurring revenues climbing 13% to NZ$155.4 million. EBITDA rose 18% to NZ$27.8 million, and statutory NPAT soared 119% to NZ$20.9 million profit, despite expensing all R&D and g2 investment costs. Cash on hand increased by NZ$18.1 million to NZ$84.8 million, with no dividend declared to prioritize investment in growth.

The utilities business saw 7% revenue growth to NZ$193.4 million, driven by a 12% increase in recurring revenues. Veovo, the airports division, grew revenue by 15% to NZ$36.8 million, with an underlying revenue growth of 30% excluding hardware sales, contributing to excellent growth in recurring revenues and EBITDA. Gentrack expanded its g2 platform with Genesis Energy in New Zealand and secured its first g2 water customer in the UK with Pennon Water Services.

Strategic initiatives included enabling 10 UK energy retailers for the Market-Wide Half-Hourly Settlement programme and expanding Veovo's digital transformation solutions to airports globally, including a new contract with NAV CANADA. The company continues its mission to accelerate the transition to a net zero future, supported by its growing team of 861 colleagues worldwide.