Move Logistics Group Limited Analysis

Overview

Move Logistics Group Limited joined the NZX on 7 December 2017, following a reverse listing with Bethunes Investments Limited. The full details of this transaction can be found on the company website www.til.kiwi.

Move is one of New Zealand's largest private domestic freight and logistics platforms, with a nationwide network of branches, depots and warehouses. Its activities include transporting and warehousing freight throughout New Zealand and co-ordinating freight movements offshore through international alliances. It also has a specialist road tanker division which is the single largest operator in the New Zealand fuel delivery market.

Performance

The following information was extracted from Move Logistics Group's Half year results, released 27 February 2026:

Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), has today reported its interim results for the six months ended 31 December 2025 (1H26).

• Revenue and other income $143.7m, down 5% YOY as weak market conditions continued to impact on customer activity and demand

• Normalised Earnings Before Tax (NEBT) $(0.1)m1, up 98% YOY – on track to achieve positive NEBT for full year

• Net Loss After Tax $(0.9)m2, an $8.0m improvement YOY

• Net debt reduced by $6.2m YOY to $12.8m, with improved operating cashflow of $17.0m, up $8.1m YOY

1H26 Financial Results

Weak market conditions continued to impact on customer activity and demand, with income for the period down 5% to $143.7m. Despite this, earnings and gross margin percentage both improved, driven by disciplined cost management and efficiency initiatives.

Normalised earnings before tax (NEBT) returned to positive territory in 2Q26, with the six month result up 98% YOY to $(0.1)m.

Gross Margin percentage was at its highest level since 1H23, driven primarily by efficiency and productivity and cost improvements.

Net Loss After Tax of $(0.9)m was an $8.0m improvement on the prior comparative period as MOVE progresses towards positive NEBT in FY26.

Operating cashflows were solid at $17.0m, up $8.1m YOY, while disciplined capital management saw net debt reduce by $6.2m to $12.8m.