Meridian Energy : Interim Results Announcement transcript

About this update from Meridian Energy Limited

TRANSCRIPT Meridian Energy Interim Financial Results to 31 December 2025 Date: 25 February 2026 Good morning everyone and welcome to Meridian Energy's interim results presentation for the 6 months to 31 December 2025. I'm Mike Roan, Meridian's Chief Executive and with me is Mandy Simpson our CFO. It is great to be back talking to investors and media about the performance of the business, and doing so with strong, or what I would term as more normal, financials to support the conversation. So, what are the key elements I would like you to walk away with today? First, this result was supported by the fact that it rained a lot in the Southern Alps through Spring and Summer, and that it was windy through the motu, as Spring tends to be. But it was also supported by customer growth, even as we transitioned our customers onto a new technology platform. The Retail team under Lisa Hannifin's clear and ambitious guidance continues to perform strongly. And there were some sound decisions made by Rory Blundell and his portfolio team over the period. But the result frames historical performance, and while that should provide confidence what also matters is how we set the business up for future success. And that success relies on growth. So, this slide touches on that as well. Over the next twelve months; Mt Munro, Te Rere Hau and Te Rahui solar stage 2 will be set for investment decisions, and the Retail team will complete its migration and really start to hone in on customer service and product creation. We will also start to see the early impacts of the Generation team's efforts to move its practices to predictive maintenance. But we will do that slowly given the value at risk. And it is always pleasing to be able to reward investors for their patience and confidence by increasing cash distributions to them, even as we prepare to spend upwards of $1.2bn on those investments I just mentioned. Once completed they will add 1.3 TWh of renewable electricity to the New Zealand system. This will further strengthen national supply and help bring prices down. Both are very important. Kiwi families, many of whom are still struggling with cost of living pressures, are looking to companies like ours for relief, so commitments of this magnitude really do matter. I am also happy that we can show our investors progress against the company's strategic goals. I can tell you that ev...

View stock analysis, news, and events for Meridian Energy Limited