Here are the key changes to know about in the New Zealand equity market; NZX50 finishes week mixed as Vista Group, Hallenstein Glassons, Serko and Infratil advance while Channel Infrastructure, Argosy, Genesis Energy and Contact Energy decline

Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.

WHAT THE NZX 50 INDEX IS DOING
The index is currently up +0.1%, which would take it to a gain of +2.8% over the past five sessions. Year-on-year it has gained +9.1%.

THE MAIN GAINERS
There were 35 gainers to close the final trading day of the week. Vista Group (VGL, #48) surged +11% following the announcement of its impressive full-year results. Over the past month, VGL’s share price has declined -5% and remains down -44% year-on-year. Hallenstein Glassons (HLG, #43) gained +4%, rising +6% month-on-month and is now up +25% year-on-year. Serko (SKO, #49) and Infratil (IFT, #4) both advanced +2%. Serko has fallen -33% over the past month, extending its year-on-year decline to -46%, while Infratil is down -6% over the past six months but remains up +2% compared with this time last year.

THE MAIN DECLINERS
There were 29 decliners, led by Channel Infrastructure (CHI, #30), which fell -3%. Despite Friday’s drop, CHI has gained +3% over the last five trading sessions and is now up +45% year-on-year. Argosy Property (ARG, #32) and Genesis Energy (GNE, #16) both declined -2%. Argosy is down -6% month-on-month but remains up +14% year-on-year, while Genesis Energy has fallen -5% over the month and is up +4% annually. Contact Energy (CEN, #5) eased -1%, leaving the stock up +3% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Vista Group Limited (VGL, #48) reported strong full-year results for the year ended 31 December, delivering record revenue and a return to profitability as demand for its cloud-based cinema software continued to grow. Total revenue rose +10% to $164.3 mln, supported by a +25% increase in SaaS revenue and continued annual recurring revenue growth, while EBITDA increased +31% to $28.2 mln and net profit after tax reached $2.6 mln. The company secured major Vista Cloud commitments from ODEON Cinemas Group, Kinepolis and Village Cinemas Australia, advanced its AI-enabled platform capabilities, and launched Vista Payments, which processed its first transaction in January 2026 with four pilot clients. Vista Group ended the year with strong cloud adoption momentum and improved operating cash flow, and expects further growth in 2026, guiding revenue of $176 mln to $182 mln and an EBITDA margin of 18% to 20%, assuming stable market conditions.

Channel Infrastructure (CHI, #30) delivered a solid full-year 2025 (FY25) financial result, reporting revenue of $140.2 mln, broadly in line with the previous year, alongside EBITDA of $93.4 mln and normalised free cash flow of $66.9 mln, up +5% year-on-year. The company maintained strong operational performance, with Marsden Point recording its highest quarterly fuel throughput since becoming an import terminal and continued growth in jet fuel demand. A final unimputed dividend of 6.75 cents per share was declared, bringing total FY25 dividends to 13.0 cents per share, up +18% from last year, reflecting an increased payout ratio of 70% to 90% of normalised free cash flow. During the year, Channel advanced several growth initiatives, including progress on the Z Energy jet storage project and Higgins bitumen import terminal, both on track for completion in the second-half of 2026, while also acquiring a 25% stake in Melbourne’s Somerton jet fuel pipeline to expand its presence into Australia. The company also completed an ASX listing in December, broadening investor access, and continues progressing long-term opportunities within the Marsden Point Energy Precinct, including the proposed biorefinery project. Looking ahead, Channel Infrastructure expects FY26 EBITDA to range between $95 mln and $100 mln, supported by infrastructure expansion, storage projects coming online, and steady fuel demand growth.

The Port of Tauranga (POT, #9) had a strong first half performance for the six months ended 31 December, reporting group net profit after tax of $70.2 mln, up +16.6% year-on-year, supported by resilient trade volumes, productivity improvements, and higher revenue. Total trade volumes rose +1.2% to 12.6 million tonnes, with container volumes increasing +2.6% to 607,114 TEUs, driven by solid import demand which lifted +5.3% to 4.7 million tonnes, while exports declined slightly amid weaker log and dairy shipments. Operating revenue increased +8.5% to $244.1 mln and earnings from subsidiaries and joint ventures surged +27.3%, reflecting improved performance across the wider business. The company declared an interim dividend of 8.0 cents per share and continued progressing key infrastructure and efficiency initiatives, including capital dredging works, automation planning, and capacity expansion across its network, while Ruakura Inland Port recorded strong growth and MetroPort operations transitioned to a redesigned model. Looking ahead, Port of Tauranga expects stronger second-half volumes supported by the kiwifruit export season and has upgraded full-year underlying group net profit after tax guidance to between $142 mln and $152 mln, subject to market conditions.

Summerset Group (SUM, #19) reported a record full-year underlying profit of $234.2 mln for FY25, up +13% year-on-year, driven by strong sales performance and continued portfolio growth, while IFRS net profit declined -22% to $259.7 mln largely due to lower property revaluations. Total revenue increased +13% to $361.8 mln and total assets rose +15% to $9.2 bln, with 1,560 occupation right agreement (ORA) sales completed during the year, up +26%, alongside 693 new homes delivered across New Zealand and Australia. Development margins remained solid at 27.8%, supported by strong demand and improved care profitability, while resident satisfaction remained high at 91% for villages and 89% for care. The company continued advancing its Australian expansion strategy with new developments progressing and early sales momentum building, while maintaining strong construction delivery across both markets. Summerset declared a final dividend of 13.2 cents per share, taking total FY25 dividends to 24.5 cents per share, and expects continued growth supported by sustained demand, disciplined balance sheet management, and expanding long-term cashflows.

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