Mercury’s profit drops $289m to $1m amid tough power conditions

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Tue, 19 Aug 2025

Mercury has blamed tough power-generating conditions for a sharp decline in its earnings over the June year.The company, 51% owned by the Government, said its net profit for the year came to just $1 million, down $289m from the prior year.The fall was due to lower earnings before interest, tax, depreciation, amortisation and financial instruments (ebitdaf) and changes in unrealised gains or losses on unhedged electricity derivatives.Generator-retailer company net profits are accounted for on a “marked-to-market” basis, with derivati...

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