NZ Windfarms has reported of earnings before interest, tax, depreciation, amortisation, and financial instruments (EBITDAF) of $3.6 million for the six months to Dec 31 2023, up from $2.5 million in the same period last year.
However, the company posted a net loss after tax of $3.1 million, compared to a profit of $1.8 million in the previous year.
NZ Windfarms has upgraded its EBITDAF guidance for the full year to $4.5 million to $5.5 million.
Dividend payments remain paused.
The company also announced its partnership with Meridian Energy to deliver New Zealand's first wind farm repowering project.
Meridian Energy has become a substantial shareholder, holding a 19.99% stake in NZ Windfarms.
The company has repaid all its outstanding bank debt and is now focused on transitioning to a renewable energy developer and owner
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