Contact Energy has announced a net profit of $142 million for the first half of the 2025 financial year, a 7% decrease from the previous year.
The company attributed the decline to market making and fair value movements in unhedged financial electricity contracts.
However, operating earnings (ebitdaf) increased by 12% to $404m, driven by higher geothermal generation, improved channel pricing, and elevated contracts for difference.
Contact's renewable generation profile expanded with the addition of two new geothermal plants.
The company's board declared an interim dividend of 16 cents per share, a 14% increase from the same period last year.
Contact also provided an update on its strategic initiatives, including the proposed acquisition of Manawa Energy, a long-term agreement to supply electricity to Fonterra, and the progress of various renewable energy projects.
See more
