FY2022 Q3 Dividend and EBITDAF guidance

25 May 2022

NZX announcement

For immediate release

NZ WINDFARMS LIMITED (NWF): FY2022 Q3 Dividend and EBITDAF guidance


FY2022 Q3 Dividend

An unimputed FY2022 Q3 dividend of $0.0020 was announced today. The Company’s dividend policy adopted last year provides for quarterly dividends of 70% to 100% of free cash flow. Please refer to the accompanying templated announcement also released today for further details.

FY2022 EBITDAF guidance

Lower average wind speeds have continued into the second half of the financial year, impacting generation. Based on actual generation to date (to 24 May 2022), the revised full year generation is expected to be nearer to 100 GWh. (FY21: 110.5 GWh).

Accordingly, the board is now guiding expectations towards the bottom of the FY2022 EBITDAF guidance range $6.5m to $7.5m issued in February 2022 with our interim report. We note that this range compares favourably with the $5.1m full year EBITDAF in FY2021, reflecting higher pricing.

Guidance is provided on the basis of information available to the Board at this time and is subject to variations, such as climatic factors. Forward electricity generation estimates are based on historical production volumes adjusted for relevant factors, including wind speed volatility. Given the proximity to financial year end, guidance will only be updated if a material event occurs.

Nga mihi | Thank you


Craig Stobo
Chairman

---

Announcement PDF