Highlights

  • IFT reported total revenue of NZD 3,346.8 million in FY2025.
  • The company recorded a net loss of NZD 261.3 million in FY2025.
  • IFT increased its stake in Contact Energy Limited to 14.3%.

Infratil Limited (NZX:IFT) is an investment company with holdings in renewable energy, transport, data and connectivity, and social infrastructure sectors.

For the year ended 31 March 2025 (FY2025), IFT’s total revenue was NZD 3,346.8 million, up 11.7% from NZD 2,995.3 million in FY2024. During the reported period, total operating expenditure increased to NZD 3,454.8 million in FY2025 from NZD 2,879.5 million in FY2024.

The company reported a net loss of NZD 261.3 million in FY2025, compared with a net profit of NZD 761.0 million in the FY2024, mainly due to lower revaluation uplifts compared to the previous corresponding period. Proportionate operational EBITDAF for FY2025 was NZD 986 million.

Business Update

IFT agreed to acquire TECT Holdings’ 4.92% shareholding in Contact Energy Limited, which will increase its total ownership in CEN to 14.3% upon completion. For FY2025, the company reported a proportionate operational EBITDAF of NZD 986 million, which was near the upper end of its guidance range of NZD 960 million to NZD 1,000 million.

Key Positives and Negatives

In FY2025, the company recorded a gross margin of 84.9%, compared with the industry median of 69.7%, and a debt-to-equity ratio of 1.06x versus the industry median of 1.52x. The net margin was -6.8% in FY25 and return on equity (ROE) was -4.6% for the same period.

Business Outlook

IFT noted that TECT’s diversification decision created an opportunity for IFT to increase its investment in CEN. The partial funding through new shares is intended to maintain financial flexibility for future growth while increasing ownership in a favourable cash flow–generating business.

The company stated that rising global data centre demand is supporting its investments in digital and renewable energy sectors. It aims to continue investing in these areas while streamlining its portfolio, targeting returns of 11%–15% over a rolling 10-year period.

Share Performance

IFT’ shares were trading at NZD 12.32 per share on 03 November 2025 with intraday loss
of 0.32%. IFT’ stock up by 6.23% over the past three months as well as up by 11.46% over the past six months, however down by 1.98% over the past year. IFT’s 52 week high is NZD 13.04, recorded on 28 November 2024 and 52-week low is NZD 9.13, recorded on 27 April 2025.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 03 November 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.