AusNet Services Limited Appointed Tony Narvaez as its New Managing Director

  • May 24, 2019 AEST
  • Team Kalkine
AusNet Services Limited Appointed Tony Narvaez as its New Managing Director

Energy and infrastructure products provider, AusNet Services Limited (ASX: AST) has appointed highly experienced Mr. Tony Narvaez as its new Managing Director. Mr. Tony Narvaez is going to commence its new role from 1 November 2019 onwards.

The company is surely going to benefit from Mr. Tony’s leadership qualities and capabilities. He is expected to lead the company to achieve its ambition for ongoing sustainable growth and strong financial performance while delivering value to its customers, communities and partners through its three regulated energy businesses and the growing portfolio of commercial energy services of its Mondo business.

Mr. Tony Narvaez is going to take the role of Mr. Nino Ficca (Current MD), who will retire from the role upon Mr. Narvaez’s commencement.

Mr. Narvaez is currently the CEO of Endeavour Energy and before that he has held leadership positions in various other big companies like United Energy and Multinet Gas, General Electric, ATCO and Verve Energy.

On the educational front, he is a holder of a bachelor’s degree in Commerce and Economics. And besides that, he has a Diploma in Financial Services (Energy Trading) and he has also completed executive studies at Harvard Business School.

For his role as Managing Director, Mr. Tony Narvaez will be getting an Annual Remuneration of $1,150,000 which includes base salary and superannuation.

For the year ended 31 March 2019 (FY19), AusNet Services Limited reported revenues of $1,861.5 million, down by 2.5% as compared to the previous corresponding period (pcp). Further, the company reported EBITDA of $1,134.2 million, down by 0.8% on pcp.

Summary of FY19 Results (Source: Company Reports)

The full year results were negatively impacted by reduced regulated revenues; namely hand-back of previously received metering revenue, lower reliability incentive revenue and a 9.4 percent decline in gas tariffs. However, the second half was FY19, the results were positively impacted by prices resetting in both distribution businesses on 1 January 2019.

The company recorded a final dividend of 4.86 cents per share, up 5%, franked to 45%.

For FY20, the company is expecting to pay a total dividend of 10.2 cents per share, up 5% on FY 2019, franked 40% to 50%. The company will continue to determine future dividends by reference to operating cash flows (using EBITDA as a proxy) after servicing all of its maintenance capital expenditure and a portion of its growth capital expenditure.

For Future, the company is going to keep its focus on productivity and efficiency, targeting top quartile of efficiency benchmarks for all network.

In the past six months, the share price of the company increased by 11.01% as on 23 May 2019. At the time of writing, i.e., on 24 May 2019 AEST 12:10 PM, the stock of the company was trading at a price of A$1.805, down by 0.551% during the day’s trade with the market capitalisation of ~A$6.63 Bn. The company’s stock is trading at a PE multiple of 25.890x.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK