The FY20 results of Trustpower Limited (NZX:TPW) were affected by many factors like decrease in rainfall which caused lower generation production, material plant outages, accounting changes, costs of developing capability and restraint in pricing changes. Key highlights of the results:
- Profit after tax stood at $97.6 million, up $4.9 million or 5%;
- Operating earnings (EBITDAF) stood at $186.5 million, down $35.7 million or 16%;
- Retail earnings (EBITDAF) were down by 45% to $35.3 million;
- The company declared fully imputed final dividend of 15.5 cents bringing total ordinary dividends to 32.5 cents.