Interim results for the period ended 30 September 2022

Infratil, a global investor in infrastructure assets, announced a Net Parent Surplus from Continuing Operations of $350.5 million for the six months ended 30 September 2022.

This was driven by significant growth in earnings from its associates, the gain recognised on the sale of the Trustpower Retail business and increased passenger recovery at Wellington Airport.

Proportionate EBITDAF was $275.6 million – an 11.0% rise on the same period the previous year - and is forecast to be between $510 million and $540 million for the year to 31 March 2023.

Infratil CEO Jason Boyes said the portfolio had performed well, benefitting from the relative protection of infrastructure assets and inflation linked pricing, whilst the Longroad capital raise saw a significant uplift in its value, and CDC Data Centres delivered 104MW of capacity across its campuses.

They have paid a fully imputed interim dividend of 6.75 cents per share and their share price rose from $8.25 to $8.65 over the period, with a total after-tax return to shareholders of 6.5%.