Meridian operating earnings up 10%

Meridian's Benmore dam. (Image: Meridian)

Tue, 29 Aug 2023

Meridian Energy reported a 10% increase in operating earnings for the year to June 30, reflecting higher generation volumes and high wholesale electricity prices during the year.Earnings before interest, tax, depreciation, amortisation and adjustments for changes in the value of financial instruments (Ebitdaf) was $783 million for the year, while underlying net profit after tax at $315m was a 35% improvement.Statutory net profit after tax (NPAT) of $95m was down on the previous year's $664m, reflecting the fact that the company bo...

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