Mercury has reported its financial results for FY23, highlighting significant investments in renewable generation and customer business.
Annual generation increased by 21% to over 9 TWh, with hydro generation up 28% due to record inflows.
Wind generation also increased by 16% following the completion of the Turitea South wind farm.
Mercury's net profit after tax was $103 million, down from the previous year due to the gain made on the sale of its Tilt Renewables shareholding.
The company's retail business also contributed to the results, with 860,000 customer connections.
Mercury has taken actions to support customers in need, including providing financial assistance and delaying customer price changes in areas affected by record-breaking rainfall.
The company has made progress in integrating its retail business and is on track to deliver the cost synergies forecasted from the Trustpower retail acquisition.
Mercury has also achieved key milestones in its wind generation portfolio and has plans for further renewable projects.
The company has declared a final dividend of 13.1 cents per share, bringing the full-year ordinary dividend to 21.8 cents per share.
Mercury's FY24 EBITDAF guidance is set at $835 million, with stay-in-business capex guidance of $160 million and an ordinary
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