MOVE Continues Positive Progress; Achieves FY25 Targets

Company Announcement
22 July 2025

MOVE CONTINUES POSITIVE PROGRESS; ACHIEVES FY25 TARGETS
Financial targets achieved; significant improvement reinforces value of transformation programme
Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), advises that, based
on preliminary unaudited results, the company has delivered significant improvement and achieved
its financial targets for the year ended 30 June 2025 (FY25) as it continues to execute on its
transformation plan.
FY25 performance overview:
• Delivered on FY25 financial targets:
o Normalised Earnings Before Tax (NEBT) significantly ahead of prior year
o Achieved positive net adjusted operating cashflow
• Retained sales revenue in a weaker trading environment.
• Further significant reduction in operating expenses in 2H, building on the $16.8m reduction
achieved in 1H.
• Strong improvement in Gross margin % and $ highlighting the effectiveness of the cost out
and efficiency programme.
• Significant improvement expected in net loss after tax.

Commentary on FY25 performance:
The improvement and positive progress seen in FY25 reinforces the effectiveness of MOVE’s
transformation programme with foundational changes across our business beginning to yield results.
At a macro level, the New Zealand economy remains challenging, driving a broad-based reduction in
demand and intensifying competitive and pricing pressure in a low demand environment. MOVE
continues to win customers on the back of customer service delivery and our national offer, and
sales revenue has been retained at similar levels to prior year despite the weak trading environment.
Three of MOVE’s four businesses have delivered significantly improved normalised earnings. A
standout for the year has been the progress in MOVE’s Freight and Fuel turnaround, with increasing
revenue and improving gross margins.
The Specialist division remains a strong performer, supported by a multi-year pipeline of activity.
The International business continues to deliver steady results, with a continuation of the Oceans
shipping pilot supported by recently renewed contracts from foundational customers.
Sector and economic headwinds have impacted the Warehousing business, with excess market
capacity and intensifying competitive and pricing pressure. A major reset under new leadership -
with a focus on customer partnerships and operational excellence – will support new business and
growth commencing in FY26.
A significant part of the Accelerate transformation plan was to optimise MOVE’s network for the
future. In line with this, we are moving to a new, modern Freight branch in Dunedin, and are exiting

two under-utilised warehouse sites with the majority of associated revenue consolidated into an
existing site. These changes will have a positive financial impact in FY26.
FY26 Outlook
The foundations and practices developed under the Accelerate transformation programme are now
embedded in our business. With one year of Accelerate remaining, we are moving from cost out to
value creation. The focus on gross margin is creating a strong platform for future performance, with
the full benefits of the cost out programme to be realised in the FY26 year. The company remains on
track to return to positive normalised EBT in FY26.
While the timing and speed of an economic recovery remains uncertain, MOVE is positioned well
with a rightsized business providing broad and relevant propositions across the freight and logistics
sector - underpinned by a lower cost base, a clear plan, and strong customer partnerships.
MOVE will report its FY25 audited results and hold an investor call on 29 August 2025. Details can be
viewed here: www.nzx.com/announcements/454881.
ENDS
For investor/media assistance, please contact: Jackie Ellis t: + 64 27 246 2505 e: jackie@ellisandco.co.nz

For further information, please contact:

Paul Millward
CEO
t: +64 27 448 6458
e: paul.millward@movelogistics.com
Lee Banks
Chief Financial Officer
t: +64 27 525 2876
e: lee.banks@movelogistics.com


About MOVE Logistics Group Limited (MOV)
MOVE is one of the largest domestic freight and logistics businesses in New Zealand, with a
nationwide network of branches, depots and warehouses.