News | Business
23 Sep 2017 13:50
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • News
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Infratil annual earnings pip past guidance

    Infratil beat annual earnings guidance after its recently demerged hydro and wind energy investments got a late tailwind from mother nature.

    18 May 2017

    Infratil beat annual earnings guidance after its recently demerged hydro and wind energy investments got a late tailwind from mother nature.

    Underlying earnings before interest, tax, depreciation, amortisation and fair value movements in financial instruments rose 12 per cent to $519.5 million in the 12 months ended March 31, beating Infratil's March guidance of between $485 million and $505 million.

    The boost came from bigger contributions than expected from Trustpower's Australian hydro assets and Tilt's Australian wind farms.

    Trustpower contributed $234.5 million to earnings and Tilt $131.7 million for a combined $366.2 million, up from $329.4 million before the companies were split up.

    "The weather literally provided a late windfall for Tilt and Trustpower's generation," the company said in a statement.

    "Infratil had a positive year of operating performance and capital allocation and is well placed to provide good returns going forward."

    Infratil downgraded its guidance for 2018, forecasting ebitdaf to be between $460 million and $500 million, which chief executive Marko Bogoievski and chairman Mark Tume said was due to the sale of its stake in Metlifecare and smaller contributions from NZ Bus and RetireAustralia.

    The company spent $728 million in the 2017 financial year, of which $168 million was on capital expenditure and $560.1 million on new investments the biggest of which was Canberra Data Centres.

    Infratil had built up a war chest after selling out of Z Energy, Lumo and iSite Holdings.

    It forecast capex of between $200 million and $250 million in 2018.

    Net profit dropped to $66 million, or 11.8 cents per share, from $438.3 million, or 78 cents, a year earlier when Infratil benefited from the sale of stakes in Z Energy and iSite Holdings.

    The board declared a final dividend of 10 cents per share, paid on June 15 with a June 2 record date.

    That takes the annual return to 15.75c, up from 14.25c in 2016.

    The shares last traded at $2.99 and have gained 8.7 per cent so far this year.


    NZN




    © 2017 NZN, NZCity


     Other Business News
     23 Sep: Four flights cancelled out of Auckland
     22 Sep: NZ dollar falls on eve of election
     22 Sep: Fuel rations relaxed at Auckland Airport
     22 Sep: Australia-Indonesia trade deal needs more political will to succeed, negotiator says
     22 Sep: Warehouse beats profit forecasts
     22 Sep: Crown gets second go at $3.6m prosecution
     21 Sep: NZ shares down as Fletcher drops
     Top Stories

    RUGBY RUGBY
    Altitude worries all in our heads: Cheika More...


    BUSINESS BUSINESS
    Four flights cancelled out of Auckland More...



     Today's News

    Entertainment:
    Peter Williams to leave TVNZ 13:47

    Entertainment:
    Channing Tatum is seeking dancers who "have the goods" for 'Magic Mike Live' 13:34

    Environment:
    Heavy rain on the way for South Island 13:27

    Accident and Emergency:
    Crash at Wairakei blocks SH1 13:07

    Entertainment:
    Kylie Jenner reportedly backed out of an interview with Megyn Kelly because she feared being asked tough questions 13:04

    Entertainment:
    Zayn Malik feels people have a new found "respect" for him after he opened up about his anxiety struggles 12:34

    Rugby:
    Altitude worries all in our heads: Cheika 12:27

    Entertainment:
    Demi Lovato doesn't "owe anybody" an explanation about her sexuality 12:04

    Rugby:
    Barrett takes late ABs call-up in stride 11:57

    Entertainment:
    Brie Bella wants to throw a "woman empowerment party" for her sister Nikki 11:34


     News Search






    Power Search


    © 2017 New Zealand City Ltd