Infratil Guidance Update FY2019

Infratil Guidance Update FY2019

Infratil advises that its Underlying EBITDAF guidance for the year to 31 March 2019 has now been revised from $500 to $540 million to $540 to $580 million.

The revision to the FY2019 guidance follows confirmation of the forecast contribution from Longroad Energy Holdings (LEH). As announced by Infratil on 20 July 2018, LEH sold its 250MWac Phoebe solar generation project in Winkler county Texas to Canadian investor Innergex Renewable Energy. Since that date, Infratil has been working with LEH to finalise the net development gains and accounting profit from the project sale, while also updating LEH’s forecast net surplus after tax for the remainder of the financial year. These items together have favourably impacted our forecast contribution from LEH to the consolidated result by $34 million.

In setting its revised Underlying EBITDAF guidance, Infratil notes the following key assumptions which remain unchanged:

• Wellington International Airport FY19 EBITDAF guidance of $100 million
• Canberra Data Centres 20% year-on-year EBITDAF run rate growth (excluding revaluations)
• Long run average weather conditions and house price inflation for the remainder of the financial year
• Capital expenditure guidance does not include capital required for the current takeover offer for Tilt Renewables or Infratil's expected contribution to the Tilt Renewables Dundonnell wind project.

Any enquiries should be directed to:
Phillippa Harford, Chief Financial Officer, Infratil Limited,