Winton Land (WIN) AGM 2025 summary

Opening remarks and agenda

• Meeting held virtually with instructions for online participation and voting provided.

• Chair and CEO addressed shareholders, outlining key achievements and strategic direction for the year.

• Board members, senior management, auditors, legal counsel, and share registrar introduced.

• Quorum confirmed and meeting formally opened.

Financial performance review

• FY25 revenue was NZD 155.4 million, down 10.5% from FY24, with 266 units settled.

• Gross profit was NZD 59.5 million, net profit after tax NZD 10.3 million, and cash position NZD 20.3 million.

• Gross profit margin was 38.3%, NPAT margin 6.6%, and EBITDA NZD 21.2 million.

• Commercial revenue rose by NZD 13.7 million due to full-year trading at Ayrburn.

• Fair value gain of NZD 5.1 million from revaluation of commercial assets and retirement land, reversing a prior year loss.

Strategic initiatives and plans

• Sunfield project and Ayrburn Screen Hub accepted into the Fast-track Approvals process; development to commence upon approval.

• Continued focus on pre-sale strategy, securing NZD 248 million in gross pre-sales.

• Residential settlements and ongoing construction at Lakeside Te Kauwhata, Northlake, Northbrook Wanaka, and Launch Bay.

• Ayrburn's first full trading year saw significant visitor growth and new venue openings, with over 1 million visitors expected next year.

• Focus for FY26 on visitor growth, operational efficiencies, and event pipeline at Ayrburn.