I N T E R I M R E S U L T S F Y 2 3
Interim Results FY23
November 2022
David Prentice - Chief Executive
Phil Wiltshire - GM Corporate Services
I N T E R I M R E S U L T S F Y 2 3
Highlights
$73.4
million
EBITDAF: Total for group
$70.0 $3.4
millionmillion
EBITDAF from continuing operations | EBITDAF from discontinued |
operations | |
976 | 7.5c | 580 |
GWh | GWh | |
interim ordinary dividend to | of electricity sold to | |
of electricity generated | be paid per share | |
commercial & industrial |
customers
$390.8 | ~800MW |
million | |
of development pipeline options | |
Net profit after tax |
Successful mass | Successful bond |
issue and bank | |
market retail sale | |
refinancing | |
completed in | |
completed in | |
April | |
September | |
Overview | |||||||
Inflow variance to long-run average / Wholesale prices | |||||||
60 | 250 | ||||||
40 | 200 | ||||||
20 | 150 | $/MWh | |||||
GWh | |||||||
0 | |||||||
-20 | 100 | ||||||
-40 | 50 | ||||||
-60 | 0 | ||||||
Apr | May | Jun | Jul | Aug | Sep | ||
Inflows variance (LHS) | Average Prices (RHS) |
Generation volumes vs long-run average | |||||||
10 | |||||||
run | 0 | ||||||
long | |||||||
average | -10 | ||||||
variance to | |||||||
-20 | |||||||
-30 | |||||||
GWh | -40 | ||||||
-50 | |||||||
Apr | May | Jun | Jul | Aug | Sep | ||
I N T E R I M R E S U L T S F Y 2 3 |
A game of three halves
- April & May saw inflows materially below average and significantly elevated wholesale prices.
- June & July saw elevated inflows and low prices.
- August & September saw inflows slightly below average and materially soft pricing.
Financial Results
• The Mercury hedge had lower initial pricing, and lower trading risk, than the previous internal transfer hedge. This pricing variance is predominantly in 1H.
• Energy revenue was impacted by lower generation volumes and lower wholesale prices.
• 'New development opex' relates to investment in our wind and solar pipeline.
• The FY-22 H1 result includes ~$6.1m of favourable carbon revaluation revenue (FY-23 1H $0.6m).
• 'Other' predominately relates to the accounting allocation of corporate costs. FY-22 H1 continuing EBITDAF contained only the Corporate costs recharged to the 'Generation' segment.
I N T E R I M R E S U L T S F Y 2 3
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Manawa Energy Ltd. published this content on 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 20:03:08 UTC.