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Trustpower FY2016 annual results

29 Apr 2016

Trustpower released today its financial statements for the year ended 31 March 2016 together with its key operating metrics.
The EBITDA result is on a par with the previous year and reflects the low wholesale price environment, the variable nature of hydro and wind generation and the success of our multi-product strategy. In particular the Broadband and Electricity bundle product acquisition campaign surpassed our targets, resulting in increased costs of $12 million compared with the prior year, with associated customer gains producing additional retail margin which are expected to result in future value creation. There are also costs of $4.9 million associated with the tax dispute with the Inland Revenue and the proposed demerger, both of these processes are expected to conclude in the coming year and are therefore not recurring. 

Trustpower Results Announcement for FY ended 31 March 2016

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