Kordia Group Full Year Results Announcement FY26

KORDIA GROUP POST FULL YEAR RESULTS 

Highlights from the year include:

• Revenue of $140.4 million.
• EBITDA of $22m.
• Net profit after tax of $4.4m.
• Declaring a dividend to the Crown of $2.6 million as well as a special dividend of $1.8 million from the sale of the Managed IT business.
• $1 million was invested in Kordia’s transformation to align the business with its refreshed strategic direction, positioning it for future growth while impacting short-term profitability.
• Strong contribution from the Maritime division, with key contracts re-signed.
• Stable performance from the Media business, with key contracts re-signed and a new partnership with Arqiva.
• Successfully completing the build of the Distributed Antenna System (DAS) at Christchurch’s One New Zealand Stadium at Te Kaha.
• Extending Kordia’s Maritime Operations Centre specialist monitoring capability to protect critical underwater infrastructure in New Zealand and in UK coastal waters.
• Key contracts to deliver communications infrastructure.
• Improved cost efficiencies in the Cyber Security, Cloud and Connectivity business to navigate tough market conditions.

Kordia Chair Ben Kepes says for the second year in a row, the Group delivered a pleasing result despite the challenging economic climate. EBIT and NPAT reached approximately 94 percent of the budget adjusted for the sale of the Managed IT business. At 9 percent, return on capital was ahead of the adjusted budget, and the Group achieved an improved shareholder equity to total assets ratio.

This year Kordia declared a dividend to the Crown of $2.6 million in addition to paying a special dividend of $1.8 million from the sale of the Managed IT business.

Kepes says the Group continues to navigate towards a refreshed strategic direction with further investment in transformation this year and a sharpened commitment on the core areas of expertise that Kordia excels in.

“Kordia achieved these results thanks to a dedicated focus on its primary business and cost control activities, which have driven down spend and supported overall performance. The stability of long-term work and the re-signing of several major contracts will continue to provide the Group a solid financial base for the years ahead.”

Business Performance

Kordia’s Media and Maritime division enjoyed another outstanding year, delivering excellent results above budget and again making significant contributions to overall performance.

Kepes says: “A highlight was the Maritime Operations Centre’s (MOC) partnership with Starboard Maritime Intelligence to monitor and protect critical underwater infrastructure. This successful collaboration has seen Kordia extend specialist monitoring capability to UK coastal waters. As well as being the first point of contact for New Zealanders in distress in the water, the MOC is now monitoring New Zealand’s critical underwater infrastructure and six submarine cable segments in Europe, in one of the world’s busiest shipping routes.”

Media continues to be a strong revenue driver, and this year Kordia renewed contracts with TVNZ and NZME.

Kepes says: “Our field engineering team enjoyed another solid year, with a highlight being the completion of the build of the Distributed Antenna System (DAS) at Christchurch’s One New Zealand Stadium at Te Kaha. The DAS not only enhances mobile connectivity at the stadium during events, it also enhances the connectivity resilience of the Christchurch CBD during times of peak demand.

“Following the success of DAS builds at other landmark properties, such as Auckland’s Commercial Bay, Kordia looks forward to growing its Coverage as a Service business.”

The field engineering team also worked with RNZ to successfully replace its aging AM broadcast masts at its Henderson transmission site. Kordia led the design of the new mast, development of the works methodology, and the rigging works on an incredibly complex site.

Kordia’s reputation as a leader in cyber security continues to grow, helped by the successful launch of the 2026 New Zealand Business Cyber Security Report – now in its 10th year. The report remains an annual talking point and a useful resource for business leaders, the media and the wider sector with the Privacy Commissioner citing its statistics in his address to a conference this year.

Kordia’s People

The Group employs just over 400 people, encompassing a wide range of skillsets and experience.

Protecting the health, safety and wellbeing of employees is the highest priority, with Kordia committed to strengthening the systems and foundations to empower each employee to reach their potential.

This year a more comprehensive approach to reporting resulted in a higher number of recorded near misses, injuries and incidents. While the targets for LTIFR (Lost Time Injury Frequency Rate) and TRIFR (Total Recordable Injury Frequency Rate) were not met, Kordia is confident that this demonstrates a more mature reporting culture rather than a decline in safety performance. From FY27, the Group will be strengthening the focus on leading measures, to continue to ensure health and safety practices continue to evolve and are world class.

Over the past few years, closing the gender pay gap has been a priority and the Group is pleased to report that this gap is 3 percent, down from 15 percent in FY25.

Kepes says: “The progress made on closing the gender pay gap is exceptional and demonstrates a commitment to valuing everyone equally.”

Kordia’s employee engagement score of 69 percent is strong and is reflective of the culture and the contribution all employees make in helping to create a workplace where people feel valued and want to build their careers.

Board Changes

The Board Chair, Sophie Haslem, and Directors, Kent Pohio and Martin Matthews, retired on 30 June 2026. Ben Kepes was appointed Chair of the Board on 1 July 2026. David Boyes and Jason McDonald were appointed as Directors on 1 July 2026. 

The Board acknowledges the significant contribution made by the retiring Directors and welcomes the appointment of the new Chair and Directors.

Outlook

Kepes says this year Kordia entered an exciting new phase of transformation with the refinement of the Group strategic direction.

“The work Kordia does is consequential. Whether it’s safety of life at sea, keeping networks and systems running 24/7 during emergencies or protecting organisations and people from cyber-attacks, if the work is critical, it’s Kordia that can be counted on.

“Kordia’s North Star – excellence in critical communications and cyber resilience – marks a subtle but important evolution in the way forward for the coming years. It will see the organisation place greater emphasis on its primary areas of expertise: designing, building, maintaining and monitoring the systems and infrastructure that matter the most.”

On behalf of the board,

Ben Kepes
Chair - Kordia Group