Vector Limited has reported a significant increase in its full-year profit, with revenue climbing 12% to NZD 1.001 billion and net profit after tax jumping 55% to NZD 240 million. The company's strong execution across its core businesses, particularly electricity distribution in Auckland, contributed to the increase.
Financial Highlights
The company benefited from the Commerce Commission's DPP4 reset, which lifted its revenue allowance for the full 12 months of FY2026. Electricity revenue rose NZD 141 million, while adjusted EBITDA in the segment increased 25% to NZD 440 million.
Business Outlook
Vector guided to FY2027 adjusted EBITDA of NZD 540 million to NZD 560 million, up from NZD 482 million in FY2026. The company also forecast gross capital expenditure of NZD 605 million to NZD 635 million, which would likely be another record year of investment in the electricity network.
Strategic Review
The company's strategic review is in its final stages and will be presented in more detail at the September 2026 shareholder meeting. The review is expected to focus on efficiency, disciplined capital execution, electrification and growth closer to core operations.