Morningstar - Meridian Energy Limited (MEL) Strong Finish to the Year for Meridian; Upgrading FVE 3%

Report

Morningstar

Adrian Atkins

Strong Finish to the Year for Meridian; Upgrading FVE 3%

Narrow-moat Meridian Energy is finishing the fiscal year strongly, with improving hydroelectric volumes and solid growth in sales volumes and prices, leading us to upgrade near-term earnings forecasts. We upgrade our fiscal 2018 EBITDA forecast 6% to NZD 656 million, which is slightly above last year and a pretty good outcome considering the firm suffered dry conditions for much of the year. EBITDA was down 7% at the interim result, but we believe good performances in April and May have narrowed...

15/06/2018 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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Strong Finish to the Year for Meridian; Upgrading FVE 3%

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

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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