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Millennium & Copthorne Hotels New Zealand (MCK) investor relations material

Millennium & Copthorne Hotels New Zealand H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary11 Aug, 2025

Executive summary

  • Strategic execution and the Revive and Thrive strategy supported resilience amid economic headwinds, focusing on long-term property improvement and tourism sector recovery.

  • Returned to profitability with net profit of $8.5m for the six months ended 30 June 2025, compared to a $10.2m loss in the same period last year.

  • Revenue declined 7.1% year-over-year to $79.3m, mainly due to lower residential land development sales.

  • Basic and diluted EPS improved to 4.20c from -7.42c year-over-year; excluding a one-off deferred tax adjustment, EPS was 7.94c.

Financial highlights

  • Total revenue for HY25 was $79.3m, down 7.1% from $85.3m in HY24; NZ hotel revenue rose to $64.1m.

  • Profit before tax fell 47.3% year-over-year to $11.3m; operating profit decreased 39.6% to $12.0m.

  • Gross profit fell to $42.7m from $46.8m year-over-year, with gross margin at 53.8%.

  • Book value increased to $787.3m from $762.3m at FY24.

  • Total comprehensive income for the period was $6.2m, up from a loss of $9.3m year-over-year.

Outlook and guidance

  • Economic recovery is expected to drive demand, though timing and pace remain uncertain; regional demand varies.

  • Priorities include increasing room capacity, ongoing refurbishments, and optimising residential section sales.

  • Continued investment in upgrades and loyalty program growth are planned.

  • No explicit forward guidance provided, but focus remains on hotel operations and property development.

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Frequently asked questions

Millennium & Copthorne Hotels New Zealand Limited is a hotel and hospitality company operating a portfolio of hotels across New Zealand. The company manages properties under brands such as Millennium, Copthorne, and Kingsgate, providing a range of accommodations and services for business and leisure travelers. Its offerings include conference facilities, dining options, and event spaces, catering to both domestic and international guests. Millennium & Copthorne Hotels New Zealand focuses on delivering quality hospitality experiences through well-located and fully serviced hotels. The company is headquartered in Auckland, New Zealand, and its shares are listed on the NZX.

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