Meridian Energy Limited · NZX:MEL
Meridian Energy — Shareholder Meeting (November 2015)
35 slides from Meridian Energy's shareholder meeting presentation, Nov 6, 2015
Slide 1: Better energy future
Better energy future MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 2: 2015 shareholder meeting
2015 shareholder meeting Introduction Welcome This meeting Introduction of the Board MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 2
Slide 3: Sequence of the meeting
Sequence of the meeting Chairman’s address Chief Executive’s review Questions relating to the management and operations of the company Resolutions and questions relating to the resolutions Close of the meeting Afternoon tea MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 3
Slide 4: Voting
Voting Voting (shareholders only) by way of poll Proxy votes: 1,849,202,485 (72.15%) MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 4
Slide 5: Proxy count
Proxy count Resolution For Against Discretionary Abstain Re-election of Mark Cairns 537,227,055 1,418,080 1,310,557,350 1,429,065 Re-election of Anake Goodall 537,310,667 1,342,482 1,310,605,000 1,373,401 Re-election of Peter Wilson 537,249,068 1,451,826 1,310,569,650 1,361,006 MERIDIAN ENERGY LIMIT
Slide 6: 2015 Annual Report
2015 Annual Report MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 6
Slide 7: Chairman's address
Chairman’s address MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 8: 2015 Financial performance
2015 Financial performance 18.23 cps 36% $209m total dividend total shareholder Underlying NPAT 59% higher than return 17% higher than prospectus, in the year to prospectus, 40% higher 30 June 2015 7% higher than 2014 than 2014 MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 8
Slide 9: Dividends and capital management
Dividends and capital management DIVIDENDS DECLARED FY 2015 DIVIDENDS AMOUNT IMPUTATION CPS DECLARED CPS % 20 Total, 18.23 Interim Ordinary Dividend 4.80 100% 5.35 15 Total, 13.01 Interim Special Dividend 1.40 100% 2.00 Final Ordinary Dividend 8.08 55% 10 75% FCF 83% FCF payout 12.88 payout Final Sp
Slide 10: Business update
Business update MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 10
Slide 11: Renewable energy assets
Renewable energy assets MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 11
Slide 12: Water
Water MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 12
Slide 13: Regulatory matters
Regulatory matters MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 13
Slide 14: Sustainability
Sustainability MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 14
Slide 15: Governance
Governance MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 15
Slide 16: Thanks
Thanks MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 16
Slide 17: Concluding remarks
Concluding remarks MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 17
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Slide 19: Chief Executive's review
Chief Executive’s review MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 20: Health and safety
Health and safety EMPLOYEE TRIFR1 16 INCIDENTS PER MILLION HOURS 14 12 10 8 6 4 2 0 2011 2012 2013 2014 2015 Financial Year ended 30 June 1Total recordable injury frequency rate – the number of incidents per million hours worked by permanent employees MERIDIAN ENERGY LIMITED Annual Shareholder Meeti
Slide 21: Retail improvement
Retail improvement 4% increase in New Zealand NEW ZEALAND RETAIL SALES VOLUMES retail sales volumes in 2015 GWh 6,500 +4% 20% decrease in call centre 6,000 volumes in 2015 5,500 Strongest performing electricity brand in two Colmar Brunton 5,000 surveys 4,500 2011 2012 2013 2014 2015 Financial Year e
Slide 22: Thermal plant retirements
Thermal plant retirements Southdown Owner: Mighty River Power Otahuhu B Capacity: 140MW Owner: Contact Energy Expected closure: 31 Dec 2015 Capacity: 400MW Closed: 30 Sep 2015 Huntly Rankine Units Owner: Genesis Energy Capacity: 500MW Expected closure: by Dec 2018 MERIDIAN ENERGY LIMITED Annual Shar
Slide 23: Meridian dry year risk
Meridian dry year risk GENERATION AND CONTRACTED SALES GWh 14,000 12,000 10,000 8,000 13,137 13,322 6,000 10,765 10,978 4,000 2,000 0 2014 sales 2014 generation 2015 sales 2015 generation Financial Year ended 30 June Note: excludes derivative contracts MERIDIAN ENERGY LIMITED Annual Shareholder Meet
Slide 24: Tiwai Point smelter
Tiwai Point smelter MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 24
Slide 25: Emerging technologies
Emerging technologies MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 25
Slide 26: Outlook
Outlook MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 26
Slide 27: Concluding remarks
Concluding remarks MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 27
Slide 28: General questions
General questions MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 29: Written questions received
Written questions received Solar energy buyback rates Meridian’s position on emerging technology Future profitability MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 29
Slide 30: Formal resolutions
Formal resolutions MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 31: Resolution 1: Re-election of Mark Cairns
Resolution 1: Re-election of Mark Cairns That Mark Cairns, who retires by rotation and is eligible for re-election, be re-elected as a director of the Company MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 31
Slide 32: Resolution 2: Re-election of Anake Goodall
Resolution 2: Re-election of Anake Goodall That Anake Goodall, who retires by rotation and is eligible for re-election, be re-elected as a director of the Company MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 32
Slide 33: Resolution 3: Re-election of Peter Wilson
Resolution 3: Re-election of Peter Wilson That Peter Wilson, who retires by rotation and is eligible for re-election, be re-elected as a director of the Company MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015 33
Slide 34: Closing
Closing MERIDIAN ENERGY LIMITED Annual Shareholder Meeting 6 November 2015
Slide 35: Disclaimer
Disclaimer The information in this presentation was prepared by Meridian Energy with due care and attention. However, the information is supplied in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or reliability of the informatio
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