Infigen Energy Announced Its Production And Revenue For Q3 FY19

IFN

Leading energy company, Infigen Energy (ASX: IFN) has reported a net revenue of $46.6 million for the third quarter of FY19, down by 4% on the previous corresponding period (pcp).

In an update provided on 30 April 2019, the company reported Production generated from owned assets of 416 GWh, Production sold from owned assets of 405 GWh and Production purchased and sold from contracted assets of 25 GWh for March quarter.

Further, the company has advised that the physical installation of the Lake Bonney Battery Energy Storage System (BESS) is substantially complete.

All 25MW of battery packs, inverters and related Balance of Plant have been installed allowing site demobilisation to occur. As per the company’s announcement, studies are continuing between Infigen, the market operator and the network service provider in relation to finalising connection and access to the electricity grid.

Based on progress till now, the company is expecting the full commercial operation of the BESS to occur in the first quarter of FY20. Infigen re-iterates its bundled price guidance for FY19 of $125-130/MWh in respect of Production Sold from Owned Assets.

The company’s supply chain encompasses over 200 suppliers which include original equipment manufacturers as major suppliers, and contractors, major service providers of operations and maintenance, and those commercial parties that directly or indirectly help meet the company’s needs and deliver value to its customers and security holders.

Adverse changes in the price for electricity and LGCs arising from decreasing demand, increasing competition, changes to the regulatory regime or other factors could affect Infigen’s ability to capture appropriate value from the existing portfolio on a risk-adjusted basis. To control this risk, the company undertakes analyses using in-house expertise and external consultancies to monitor market conditions and outlook.

Operating costs of the company can be adversely affected by regulatory settings, equipment or key component failure. To mitigate the affect of these things, the company is maintaining a broad insurance program, including an appropriate level of business interruption insurance.

In FY18, the company delivered strong financial performance and significant progress and now it is looking for opportunities to improve its systems and culture in vigilant pursuit of its goal of zero harm.

Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock is trading at a price of $0.465, down by 1.064% during the day’s trade with a market capitalisation of ~$449.58 Million as on 30 April 2019 (AEST 3:09 PM). The counter opened the day at $0.460 and reached the day’s high of $0.480 and touched a day’s low of $0.460 with a daily volume of ~1,029,208. The stock has provided a year till date return of 6.82% & also posted returns of -4.08%, 3.30% & 6.82% over the past six months, three & one-month period respectively. It had a 52-week high price of $0.750 and touched 52 weeks low of $0410, with an average volume of ~ 2,417,198.


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