Metrix Sold, Now Mercury Reinvesting in Moaty Electricity Generation Business
We retain our NZD 3.60 fair value estimate for Mercury NZ following first-half fiscal 2019 results that were roughly in line with our expectations. The firm reported flat EBITDA at NZD 302 million for the six months to December 2018, compared with NZD 304 million in the prior corresponding period. This was achieved despite significantly lower hydro generation as higher prevailing spot prices lifted profits in the generation segment. The firm maintained fiscal 2019 EBITDA guidance of NZD 515 mill...Mercury NZ is engaged in the investment, development and producing of electricity from renewable and other energy sources, selling of energy and energy related services and products to retail and wholesale customers. As of June 30 2013, Co. had 388,000 electric customers.
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