Morningstar - Infratil Ltd. (IFT) Infratil Refocusing on Core Themes of Renewable Energy, Data Storage, and Ageing Populations

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Morningstar

Adrian Atkins

EUR 100.00 For Business Accounts Only

Infratil Refocusing on Core Themes of Renewable Energy, Data Storage, and Ageing Populations

Narrow-moat-rated Infratil upped fiscal 2019 EBITDA guidance by NZD 40 million to a range of between NZD 540 million and NZD 580 million. The upgrade mainly relates to Longroad's sale of the Phoebe solar generation project in Texas, where a gain on sale was recorded. We upgrade our fiscal 2019 EBITDA forecast to the middle of guidance, while longer-term forecasts are largely unchanged. We maintain our NZD 3.10 fair value estimate and, at current prices, the stock trades 15% above our valuation.
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13/11/2018 14 EN

Underlying

Infratil Ltd.

Infratil and its subsidiaries own and operate infrastructure and utility businesses and investments in New Zealand and Australia. Co. and its subsidiaries operate in six business segments: TrustPower, Wellington Airport, NZ Bus, Infratil Energy Australia, Infratil Airports Europe and Other. Trust Power is Co.'s renewable generation investment; Wellington International Airport is Co.'s Wellington Airport Investment; NZ Bus is Co.'s transportation investment; and Infratil Energy Australia (including Perth Energy) is Co.'s non renewable generation investment. The principal investments in the Other segment are Co.'s interests in Z Energy, Metlifecare, RetireAustralia and ASIP.

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NZIFTE0003S3 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adrian Atkins

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Morningstar | Ceased Coverage on Infratil

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Infratil Refocusing on Core Themes of Renewable Energy, Data Storage, and Ageing Populations

Infratil Limited: 1 director

With a more favourable environment, INFRATIL improves to Slightly Positive

Morningstar | Ceased Coverage on Infratil

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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