Genesis delivers strong result while investing for growth

Genesis Energy has delivered a strong HY22 result with EBITDAF of $210.3 million, and net profit of $84.7m up 63% on the same period last year.

Net customer churn fell for a sixth consecutive quarter and was 13.2% in the half.

An interim dividend of 8.7 cps and the reintroduction of the Dividend Reinvestment Plan has been approved by the Board.

Genesis is investing for future growth in new renewable generation and enhanced customer experiences, with additional cost incurred to protect its people and operations from Covid-19, and significant investment projects to future-proof its assets.

FY22 guidance has been updated to $430 to $440 million.