Trustpower trims guidance, eyes generation upgrades

Thu, 07 Nov 2019

Trustpower has trimmed its full-year earnings guidance after low hydro inflows and repair costs to a power station cut the company’s underlying first-half profit by 25 percent.The company is expecting earnings before interest, tax, depreciation, amortisation and changes in financial instruments of $200-to-$215 million, based on expected hydro storage and current electricity pricing. The firm had previously said ebitdaf would likely be at the bottom of a $205-225 million range.Trustpower, the country’s fifth-largest electricity retailer and the...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket gains in Labour day catch-up

Gentrack and A2 Milk both gained.

Graham Skellern 6:10pm

Law & Regulation

Freightways couriers park up over ‘unsafe’ practices

“I've cried in the van,” a courier tells the gathering of protesting drivers.

Maria Slade 3:34pm

Freightways couriers park up over ‘unsafe’ practices

Policy

Labour’s tax plan by the numbers

Labour has chosen a small target CGT and a popular health target.

Pattrick Smellie 1:15pm

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

Sponsored

Focus on safety of SME vehicle fleets

Vehicle glass repairer’s work enhances road safety.

Smith & Smith

More Infrastructure

Primary Sector

US$411b on the table: will NZ claim a slice?

Infrastructure will be a major focus of the NZ EU Summit, but Ukraine might be too.

Dileepa Fonseka 24 Oct 2025

Infrastructure

Wellington Airport's half-year passenger numbers down, net loss up

Staff reporters 23 Oct 2025

Infrastructure

Marsden Maritime Holdings CEO Rosie Mercer standing down

Marsden Maritime Holdings' chief executive, Rosie Mercer, is stepping down at the end of the year.After three years in the job, she said the decision was a natural transition point for her and the company, as Marsden Maritime Holdings (MMH) was in a strong position and well-p...

Ian Llewellyn 23 Oct 2025

Infrastructure

Property for Industry says valuation cycle turning

It cites strong occupancy, lease terms behind and sees strong 2026.

Staff reporters 21 Oct 2025

Trustpower trims guidance, eyes generation upgrades

More Infrastructure

Your company has a subscription

Team