Tourism Holdings Ltd stock (NZHELE0001S9): Profit up 17% in first half of FY26

Tourism Holdings Ltd reported a 17% increase in statutory net profit after tax to NZ$29.6 million for the first half of the 2026 financial year, lifting sentiment around the RV and tourism operator.

Tourism Holdings Ltd has reported a 17% increase in statutory net profit after tax to NZ$29.6 million for the first half of the 2026 financial year, according to a company announcement summarized by BusinessDesk on May 8, 2026.BusinessDesk as of 05/08/2026 The result reflects stronger underlying demand across its rental and vehicle?sales businesses and comes after a transition year in which the group restructured operations and reduced capital expenditure.

First?half net operating cash flow rose 67% to NZ$40.5 million, supported by higher EBITDA and lower net capital expenditure, according to an earnings?call summary for the second quarter of fiscal 2026.Alpha Spread as of 05/08/2026 Management described the group as being in a “positive place,” with rentals performing strongly, vehicle sales stabilizing, and expectations that fiscal year 2027 will benefit from actions already taken.

As of: 10.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Tourism Holdings Limited
• Sector/industry: Tourism, RV and specialty vehicle rental and manufacturing
• Headquarters/country: New Zealand
• Core markets: New Zealand, Australia, North America, United Kingdom and Ireland
• Key revenue drivers: Motorhome and RV rentals, sale of new and used RVs, specialty vehicle manufacturing, and guided tourism experiences
• Home exchange/listing venue: NZX (THL)
• Trading currency: NZD

Tourism Holdings Ltd: core business model

Tourism Holdings Ltd operates as a tourism and mobility company with a focus on motorhomes, recreational vehicles, and specialty vehicles across multiple regions.Simply Wall St as of 05/10/2026 The group segments its activities into New Zealand Rentals & Sales, Action Manufacturing, Tourism, Australia Rentals, Sales & Manufacturing, North America Rentals & Sales, United Kingdom & Ireland Rentals & Sales, and a Corporate segment, allowing it to capture demand both from leisure travelers and commercial customers.

The company manufactures, rents, and sells motorhomes and other specialty vehicles, including campervans and custom?built units for tourism operators and fleets.Simply Wall St as of 05/10/2026 It also sells ex?rental fleet vehicles and new and used RVs directly to the public and through a dealer network, creating a recurring revenue stream from both rentals and secondary sales.

Beyond vehicle operations, Tourism Holdings provides guided tourism experiences such as Kiwi Experience bus tours and Discover Waitomo Caves Group experiences, which diversify its exposure across different travel formats and customer segments.Simply Wall St as of 05/10/2026 This mix of asset?light experiences and asset?heavy rental fleets positions the group at the intersection of leisure travel and mobility infrastructure.

Main revenue and product drivers for Tourism Holdings Ltd

For the trailing twelve months, Tourism Holdings reported revenue of approximately NZ$956.2 million, with gross profit of about NZ$592.9 million, implying a gross margin of roughly 62% according to Simply Wall St data as of May 10, 2026.Simply Wall St as of 05/10/2026 However, the group recorded a net loss of around NZ$21.5 million over the same period, reflecting high operating costs and a debt?heavy balance sheet.

The company’s earnings per share stood at about –NZ$0.097, and its debt?to?equity ratio was reported at roughly 82.8%, indicating a leveraged capital structure that can amplify both upside and downside in earnings volatility.Simply Wall St as of 05/10/2026 Despite the net loss, the recent 17% year?on?year increase in statutory net profit after tax for the first half of FY26 suggests that operational improvements and cost discipline are beginning to translate into better profitability.

On the NZX, Tourism Holdings’ ordinary shares trade under the ticker THL with a market capitalization of about NZ$455.7 million as of May 10, 2026, based on NZX data.NZX as of 05/10/2026 The stock’s trailing?twelve?month price?to?earnings ratio is negative, reflecting the recent loss?making period, while the gross dividend yield is around 4.6%, indicating that the company continues to return cash to shareholders despite earnings pressure.

Conclusion

Tourism Holdings Ltd has delivered a 17% increase in statutory net profit after tax for the first half of the 2026 financial year, signaling improved operating performance after a transition period.BusinessDesk as of 05/08/2026 Stronger rentals, stabilizing vehicle sales, and higher operating cash flow suggest that the group’s restructuring and capital?expenditure discipline are starting to bear fruit.

However, the company remains loss?making on a trailing?twelve?month basis, with a leveraged balance sheet and a negative price?to?earnings ratio, which may weigh on investor sentiment despite the recent profit improvement.Simply Wall St as of 05/10/2026 For US investors, the stock offers exposure to global tourism and RV demand but also carries currency, leverage, and cyclical?risk considerations.

This article does not constitute investment advice. Stocks are volatile financial instruments and past performance is not indicative of future results.Tourism Holdings Investor Relations as of 05/10/2026

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.