Meridian Energy Ltd (OTCPK:MDDNF)
$ 3.6 0 (0%) Market Cap: 9.58 Bil Enterprise Value: 10.26 Bil PE Ratio: 35.29 PB Ratio: 1.85 GF Score: 75/100
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Interim 2019 Meridian Energy Ltd Earnings Call Transcript

Feb 19, 2019 / 11:30PM GMT
Neal Barclay
Meridian Energy Limited - Chief Executive

Good afternoon, and welcome to Meridian Energy's Interim Results Announcement for the 6 months to 31 December 2018. I'm Neal Barclay, Chief Executive, and I have with me Paul Chambers, our CFO. I'll talk to some of the highlights and environmental factors that we've seen, and then I'll hand over to Paul to talk to some of the business performance in a bit more detail.

We posted a good result for the period. EBITDAF was up $389 million, which is a record first half for us, and 18% up on the prior year. New Zealand's healthy starting hydro storage and good winter inflows into our catchment has allowed us to lift generation by 10% and sell that additional load into high wholesale prices.

In March, we purchased the Greenstate hydro assets, which contributed to our growth in Australia, and our U.K. customer sales were also up on the corresponding period.

The improved cash flows have allowed us to increase the interim dividend of 6% -- by 6% over the last year, and we've also declared an interim special dividend of $0.0244 per

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