Tough six months hit Genesis Energy's earnings and profit

Tough six months hit Genesis Energy's earnings and profit
A major outage at Huntly power station reduced energy security and Genesis Energy's earnings. (Image: Getty)
Ian Llewellyn
Genesis Energy recorded large drops in earnings and profit as it dealt with a major plant outage, lower hydro inflows and increasing costs across the business.For the six months to Dec 31, Genesis reported earnings (Ebitdaf) of $202 million, down 32% on the previous corresponding period. The reduced earnings meant that net profit after tax was lower: $38m, a 74% drop.The company suffered an extended outage of Unit 5 at Huntly power station, which took longer to fix than originally estimated.  The outage occurred in June and meant...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024