Tilt profit soars on Snowtown sale

Mon, 25 May 2020

Tilt Renewables net profit soared to A$478.4 million in the 12 months ended March 31 from A$12.2 million a year earlier, as the wind farm developer benefited from the sale of its Snowtown 2 wind farm for a A$486 million gain.Earnings before interest, tax, depreciation and amortisation fell 13 percent to A$117.5 million, with the Snowtown sale stripping out A$28 million of operating revenue.Tilt repaid A$548 million of debt and had a gearing ratio of 12 percent at March 31 compared to 48 percent a year earlier, giving it plenty of headroom to fu...

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