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Infratil (IFT) investor relations material
Infratil H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary12 Nov, 2025
Executive summary
Proportionate operational EBITDAF rose 7% year-over-year to NZ$514 million for HY26, driven by CDC and Longroad, with strong contract wins and international growth in digital and renewables, despite a subdued New Zealand economy.
Net parent surplus reached NZ$631.5 million, reversing a prior year loss, supported by CDC earnings and gains from Manawa Energy sale.
Portfolio asset value increased to over NZ$19 billion, up NZ$735 million in six months, mainly from CDC and Longroad investments and further Contact Energy stake.
Major divestments, including RetireAustralia, Fortysouth, and legacy property assets, advanced the NZ$1 billion non-core asset sale target, with 58% achieved.
Interim dividend of 7.25 cents per share declared, with a 2% discount for reinvestment and annualized growth of 2% anticipated.
Financial highlights
Proportionate operational EBITDAF: NZ$514 million, up 7% year-over-year, led by CDC and Longroad.
Proportionate capex was NZ$1.14 billion, with 69% allocated to CDC and Longroad.
Net surplus for the period was NZ$631.5 million, compared to a loss of NZ$241.5 million in the prior year.
Asset valuation reached NZ$19 billion, with significant uplift from CDC's transaction-based revaluation.
Net asset value per share increased to NZ$15.55.
Outlook and guidance
FY26 proportionate operational EBITDAF guidance updated to NZ$960 million–NZ$1 billion, reflecting divestments.
CDC expected at lower end of FY26 EBITDAF guidance; Longroad guidance raised to US$120–130 million.
Proportionate capex guidance unchanged at NZ$2.2–2.6 billion, with CDC's capex guidance increased.
Further A$250 million investment planned in CDC to support capacity expansion and earnings growth.
Strong funding capacity and balance sheet flexibility to support growth and investment plans through FY27.
Detail CDC's AI-driven growth and expansion
Progress on $1bn divestment target and reinvestment
Gurin Energy's Project Vanda export license status
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H2 202626 May, 2026
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Frequently asked questions
Infratil Limited is a New Zealand-based infrastructure investment company with a strong focus on renewable energy, digital infrastructure, healthcare, and airports. The company invests in critical infrastructure that societies need now and will continue to need in the future, including renewable electricity sources such as hydro, wind, and solar power, as well as in the development and operation of data centres and telecommunications networks. In healthcare, Infratil has investments in diagnostic technology and retirement living facilities, reflecting the growing demand for healthcare services as populations age. The company also owns and operates airport and transport infrastructure, emphasizing its comprehensive approach to investing in infrastructure that underpins societal functioning and growth. The company is headquartered in Wellington, New Zealand, and its shares are listed on the New Zealand Stock Exchange.
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