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At a Glance

At a Glance

 

NZ Windfarms Ltd (NZX Code: NWF) is listed on the NZ stock exchange. The charts pictured below are extracted from the FY2023 Annual Report. Please view in conjunction with the audited financial statements and the notes to the accounts.

FY23 - Financial Overview.jpg
FY23 - Operational Overview.jpg

NZX Announcements and EBITDAF Guidance

NZX Announcements EBITDAF Guidance

NZX Announcements

NZX announcements for NZ Windfarms Limited (NZX code: NWF) can be

accessed at the following link.

NZX
NZWF Logo Mono_edited.png

EBITDAF Guidance

Based on our forecasts for FY24, we estimate our EBITDAF to be in the range of $3.0m - $4.5m. Link to NZX announcement - 29 August 2023.

The Board reaffirmed FY24 EBITDAF guidance at the 2023 AGM.

 

The FY24 EBITDAF guidance range is based on an annual production level of 106 GWh, which is a higher confidence estimate based on a blend of annual averages and an independent determination of P75 Annual Energy Production (AEP). This is more conservative than the P50 AEP of 116.2GWh (91 x WF500 turbines) adopted for impairment testing purposes (refer to note 15 of the audited financial statements for the basis of this input). Shareholders can monitor actual unaudited financial year to date production data on the company’s website www.nzwindfarms.co.nz

 

The Company’s Electricity Price Hedging Policy provides the flexibility to hedge between a minimum hedge level and 100%, for the next 24 months, enabling a more proactive approach to managing electricity price risk. The Company’s estimated operating expenditure and principal and interest payments will determine the minimum hedge ratio to apply.

 

The Company is 67% hedged for FY2024 and 41% hedged for FY2025. We will progressively move to fill out the balance of the 24-month ahead period as market conditions allow.

 

The net electricity price for FY2024 is estimated at $92.50 per MWh. This is a blended price of VVFPA prices and estimated electricity spot prices based on ASX futures prices and adjusted for location and intermittency factors and weighted by monthly production estimates and hedge ratios.

 

Short term forward electricity prices reflect the relatively full hydro lake levels at present. Medium to long term forward electricity prices have remained elevated likely as a result of higher inputs into thermal generation and market pricing indicating the likelihood of Tiwai point aluminium smelter operations continuing beyond the current electricity contract end date.

 

EBITDAF guidance is provided on the basis of information available at this time, and may be subject to variations, including climatic and other conditions outside the Company’s control. Forward electricity generation is based on a mix of recent annual averages and an independent expert’s determination of P75 generation adjusted for relevant factors. However, wind generation is inherently variable from one year to the next.

Annual Reports

Annual Reports

Interim Reports

Interim Reports

Shareholder Meetings

Shareholder Meetings
Dividends

Dividend Policy and Dividends

 

Dividend Policy

The Company's dividend policy can be accessed here. 

Considering the low electricity spot market prices and continued upfront investment to support strategic growth aspirations, the Board has taken the difficult but prudent decision to pause dividends. Link to NZX announcement 28 Feb 2023. 

The Board indicated at the 2023 AGM it is considering to recommence the payment of dividends subject to: NZ Windfarms’ performance meeting current FY24 EBITDAF guidance; and the Dividend Policy adopted by the Board which, inter alia, provides for quarterly dividends of 70% to 100% of free cash flow.

Dividends

FY2023 Q1

Record Date

16 Dec 2022

Payment Date

23 Dec 2022

Cents per share

0.0500

Imputation Cedits

Nil

FY2022 Final

Record Date

9 Sep 2022

Payment Date

22 Sep 2022

Cents per share

0.2500

Imputation Cedits

Nil

FY2022 Q3

Record Date

3 Jun 2022

Payment Date

22 Jun 2022

Cents per share

0.2000

Imputation Cedits

Nil

FY2022 Interim

Record Date

24 Mar 2022

Payment Date

04 Apr 2022

Cents per share

0.2300

Imputation Cedits

Nil

FY2022 Q1

Record Date

24 Dec 2021

Payment Date

31 Dec 2021

Cents per share

0.1500

Imputation Cedits

Nil

FY2021 Final

Record Date

10 Sep 2021

Payment Date

22 Sep 2021

Cents per share

0.4500

Imputation Cedits

Nil

FY2021 Interim

Record Date

26 Mar 2021

Payment Date

9 Apr 2021

Cents per share

0.1500

Imputation Cedits

Nil

FY2021 Q1

Record Date

22 Dec 2020

Payment Date

31 Dec 2020

Cents per share

0.4000

Imputation Cedits

Nil

FY2020 Final

Record Date

11 Sep 2020

Payment Date

22 Sep 2020

Cents per share

0.7000

Imputation Cedits

Nil

FY2020 Interim

Record Date

10 Mar 2020

Payment Date

19 Mar 2020

Cents per share

0.7000

Imputation Cedits

Nil

FY2020 Q1

Record Date

20 Sep 2019

Payment Date

1 Oct 2019

Cents per share

0.4000

Imputation Cedits

Nil

FY2019 Final

Record Date

30 Aug 2019

Payment Date

23 Sep 2019

Cents per share

0.5500

Imputation Cedits

Nil

FY2019 Interim

Record Date

24 May 2019

Payment Date

10 Jun 2019

Cents per share

0.5000

Imputation Cedits

Nil

FY2018 Maiden

Record Date

20 Oct 2017

Payment Date

3 Nov 2017

Cents per share

0.8500

Imputation Cedits

Yes

Operational and Industry Information

Operational and Industry

 

TRH Live

Live operating information can be accessed at TRH Live

 

Local Weather Forecast

Weather information for the Te Rere Hau Wind Farm can be accessed here

Share Price Information

Share Price information (delayed 20 minutes) for NZ Windfarms Limited (NZX code: NWF) can be accessed here

NZ Electricity Industry Information

Live operating information for the New Zealand electricity sector can be accessed at WITS (Wholesale Information Trading System)

 

Additional live New Zealand electricity sector information can be accessed at Transpower's website

 

A summary of the New Zealand electricity industry can be found on the MBIE website

Why Wind Power?

The New Zealand Wind Energy Association (NZWEA) is a rich source of information on the wind energy sector in New Zealand.  

How to buy shares in the Company?

How to buy shares in the Company

 

Please consult an Authorised Financial Advisor. Once you’ve made a decision, you need to use a licensed share broker or their web / smartphone app to buy or sell shares. For more information please visit the Financial Markets Authority (FMA) website. 

Nothing on this website or in the attached documents or links constitutes financial advice.

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