Morningstar - Meridian Energy Limited (MEL) Meridianâ€™s Good Run Continues; FVE up 3% to NZD 3.60

Report

Morningstar

Adrian Atkins

EUR 100.00 For Business Accounts Only

Meridianâ€™s Good Run Continues; FVE up 3% to NZD 3.60

Narrow-moat Meridian finished fiscal 2019 in style. Based on the firmâ€™s monthly operating statistics, we estimate fiscal 2019 EBITDA is up 25% on last year to NZD 831 million. This is a fantastic result, driven primarily by strong growth in hydroelectric volumes, wholesale electricity prices, commercial and industrial revenue and retail customer connections. Looking forward, earnings are likely to fall around 7% in fiscal 2020 on normalisation of rainfall and lower wholesale electricity prices. ...

12/07/2019 14 EN

Underlying

Meridian Energy Limited

Meridian Energy is engaged in the generation, trading and retailing of electricity, related products and services. Co. operates in three reportable segments. The wholesale segment includes generation and sale of electricity to wholesale market; purchase and resale of electricity to industrial and retail customers; development of New Zealand renewable energy generation opportunities; and provision of risk management and dam consultancy services. The retail segment includes purchase and sale of electricity to retail customers; and provision of metering services. The international segment includes generate, sale and retail of electricity within Australia and United States.

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NZMELE0002S7 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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Meridianâ€™s Good Run Continues; FVE up 3% to NZD 3.60

Meridian Energy Ltd: 1 director

An unfavourable environment weighs on MERIDIAN ENERGY, which sees a downgrade to Negative

Morningstar | MEZ Updated Star Rating from 15 Jul 2019

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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