Manawa Energy reports solid interim results, boosts dividend

Manawa Energy Ltd Ords reported solid interim financial results for the six months ending September 2023.

EBITDAF from continuing operations increased by 11% to $78 million, while underlying earnings rose by 13% to $39 million.

Profit from continuing operations increased by 38%.

However, profit after tax decreased by 86% due to the absence of a one-off gain from the sale of the Trustpower retail business in the previous year.

The company's generation volumes increased by 14% to meet market demand, and it has landholder agreements or options in place for over 950MW of new solar and wind projects.

Manawa Energy also established a sustainable finance framework, with over 80% of its debt now classified as green.

An interim dividend of 8.0 cents per share will be paid on December 1, 2023, up from 7.5 cents last year.