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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
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EBITDAF Guidance - Upgraded (27 February 2024)

As a result of higher than expected spot electricity pricing through December and November and the Company’s year to date generation as at 26 February 2024, the Board now expects FY2024 EBITDAF to be higher moving from $3.0m to $4.5m to $4.5m to $5.5m.

 

See link to Interim Report announcement - 27 February 2024.

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 at  http://trhdata.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.

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
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Shareholder Meetings

2023 - SSM

A special shareholders meeting took place on Wednesday 20 December 2023  at Link Market Services Limited (Level 30), PwC Tower, 15 Customs Street West, Auckland 1010 and was accessible online. 

2023 - SSM - Notice of Meeting  Virtual Meeting Guide  2023 Director Fees Report  2023 SSM Presentation  2023 SSM Script  2023 Results of SSM

Webcast Replay

2023 - ASM

The annual shareholders meeting took place on Thursday, 26 October 2023, at the Distinction Hotel (Carlton Room), 175 Cuba Street, Palmerston North 4410, and was accessible online.

2023 Notice of Meeting  Virtual Meeting Guide  2023 Director Fees Report  Webcast Replay  2023 AGM Presentation  2023 AGM Script  2023 Results of AGM

2022

2022 Notice of Meeting  Virtual Meeting Guide  Director Fees Report 

Webcast Replay  2022 AGM Presentation  2022 Chair and CE Script 

2022 Results of AGM

2021

2021 Notice of Meeting  2021 Notice of Meeting (Online Only)  Virtual Meeting Guide  2021 AGM Presentation  2021 Chair and CE Script   2021 Results of AGM

2020

2020 Notice of Meeting  2020 Notice of Meeting (Online Only)  Virtual Meeting Guide  2020 AGM Presentation  2020 Chair and CE Script   2020 Results of AGM

2019

2019 Notice of Meeting    2019 AGM Presentation    2019 Results of AGM

2018

2018 Notice of Meeting   2018 AGM Presentation    2018 Chair Address

2018 CE Address    2018 Results of AGM

2017

2017 Notice of Meeting   2017 Chair Address  2017 CE Address  2017 Results of AGM

2016

2016 Notice of Meeting  2016 Chair Address  2016 CE Address  2016 Results of AGM

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Dividends

Dividend Policy and Dividends

 

Dividend Policy

The Company's dividend policy can be accessed here. 

Dividends have been paused since 28 February 2023. Link to NZX announcement 28 Feb 2023

Link to latest NZX Announcement on Dividends - 27 February 2024

 

The Board continues to review the Company’s Dividend Policy as it assesses future capital requirements to transition from managing a single wind farm to developing a broader range of renewable energy projects.

 

With the Repower Project's cost projected to be between $500m and $600m and expectations of project financing covering 65% to 75% of that amount, NZ Windfarms anticipates the need to raise additional equity of approximately $40m to $75m. Additionally, the company is exploring new development opportunities beyond Te Rere Hau.

 

Given these factors, and despite an improved FY2024 EBITDAF forecast, complete bank debt repayment, and funds from a recent placement and rights issue, the potential variability and scale of future capital needs are presently guiding the Board's decision-making process. The possibility of distributing dividends now, only to potentially seek further capital from shareholders later (should a positive Final Investment Decision occur), is deemed not in the best interest of enhancing shareholder value. Therefore, dividend distributions will continue to be suspended.

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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