Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Infratil results for the full year ended 31 March 2018

Infratil results for the full year ended 31 March 2018
17 May 2018
Infratil Limited's Annual Report for the full year ended 31 March 2018 is now available here.

Infratil’s consolidated Underlying EBITDAF was $552.4 million, up 6.3% from the $519.5 million reported in 2017. Underlying EBITDAF1 was above the guidance level as a result of associate investment valuations. Net parent surplus was $60.5 million compared to $66.1 million in the prior period.

While the higher Underlying EBITDAF1 resulted in higher operating cash flow (up 21% to $295.8 million from $245.0 million), the net surplus was impacted by higher depreciation, tax and minorities, partially offset by lower interest costs.

Infratil had a positive year of operating performance and capital allocation and is well placed to provide good returns going forward. For the year ended 31 March 2018, Infratil invested $325.9 million through its businesses and platforms. These investments provide the source of future income and value growth.

Each of last year’s new investments, Canberra Data Centres, Longroad Energy and ANU Student Accommodation, performed above expectations. Wellington Airport and Trustpower delivered record results. Additional capital was provided to RetireAustralia to enable a doubling of its rate of development, and Tilt Renewables commenced construction of a wind farm in Victoria and contracted the electricity output.

As at 31 March 2018, Infratil net debt was $780 million and represented 31% of capital. Infratil has undrawn bank facilities of $269 million.

Infratil has declared a final ordinary dividend of 10.75 cps, fully imputed, payable on 18 June 2018 to shareholders recorded as owners by the registry as at 5 June 2018, bringing the full year dividend to 16.75 cps. Infratil’s capital structure and confidence in outlook are positive for continued growth in dividends per share, with potential for a higher dividend as Longroad development gains are realised. Based on current portfolio composition, the imputation credit forecast supports ~9 to 10 cps fully imputed annually.

Infratil has provided normalised Underlying EBITDAF1 guidance of $500 – $540 million for the 2019 financial year, compared to $488 million normalised Underlying EBITDAF for the 2018 financial year.

For further information, including the webcast please click here.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

EU Wine Exports: Peter Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO:

Science: Legendary Telescope Being Brought Back To Life

One of the world’s most famous Victorian telescopes will be restored and available for public viewing in Takapō after spending five decades in storage... The Brashear Telescope was used in the late 1800s by Percival Lowell for his studies of Mars. More>>