Metro Performance Glass Limited Analysis

Overview

Metro Performance Glass Limited produces a range of customised glass products that are predominantly used in residential and non-residential construction applications such as windows, doors, internal partitions, balustrades, facades, showers, mirrors, furniture and splashbacks.

Metroglass is the New Zealand market leader in the value added glass processing market with a circa. 50% market share and is twice the size of its nearest competitor by market share. Metro Performance Glass market leadership is supported by a number of competitive advantages that have been developed over more than 30 years, including its high customer service standards, manufacturing capability and scale, distribution footprint, product offering and glazing capability.

Metroglass also operates in Australia through Australian Glass Group, which has glass processing operations in Victoria, New South Wales and Tasmania.

MPG listed on the NZX Main Board on 30 July 2014.

Performance

The following information was extracted from Metro Performance Glass's Half Year results, released 24 November 2025:

Metroglass provides H126 results (unaudited)

• Capital raise settled September 19th

• Net debt reduced from $60.5 m 31 March 25 to $27.4m at end H1

• Revenue reduced from $114 m to $108m for corresponding period

• Profit before significant items $964k vs $349 prior period

• Profit before interest and tax increased from $(1.08)m to $9.54m

Please refer to our half year results for the six months ended 30 September 2025.

Group revenue was down 5% to $108 million, with profit for the six months ended 30 September 2025 at $2.9m, broadly in line with previous announcements. With the successful recapitalisation of Metroglass in September, our net debt decreased from $60.5m at 31 March 2025 to $27.4m.