Manawa Energy Ltd
MNW: XNZE (NZL)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
NZD 1.70 | Mjlmmn | Cxmblcm |
Trustpower's First-Half Earnings in Line with Expectations, All Eyes on RET Review in Australia
Trustpower’s first-half fiscal 2015 results did not surprise. Underlying earnings before interest tax, depreciation and amortisation, or EBITDA, of NZD 173 million was 13% higher than the previous corresponding period, reflecting the contribution from Snowtown 2 and acquisition of Green State Power assets. We modestly increase our EBITDA projections mainly reflecting a higher contribution from the New Zealand retail business over the medium term. Our forecasts don't assume any further wind or irrigation projects.