Annuncio • 13h
Meridian Energy Limited Announces Appointment of Fraser Whineray as Non-Executive Director, Effective September 28, 2026 Meridian Energy Limited announced that it had appointed Fraser Whineray as a Non-Executive Director with effect from September 28, 2026. Fraser brings deep executive leadership and governance experience across the energy, infrastructure and primary industry sectors as well as in capital markets. He is a former Chief Executive of Mercury, another renewable energy generator and retailer, and subsequently served as Chief Operating Officer of Fonterra Co-operative Group where he was responsible for operations, global supply chain, manufacturing, sustainability, global technology, R&D and capital investment. Fraser’s current governance roles include being a Director of Waste Management New Zealand and the Port of Tauranga, and Chair of TenPeaks Data Centres. He has also held governance roles across renewable energy, infrastructure, investment banking and technology entities. Fraser holds a BE(Hons) in Chemical and Process Engineering from the University of Canterbury, a post-graduate diploma in dairy science and technology, and an MBA from the University of Cambridge where he has recently held an honorary appointment as a Visiting Fellow. Fraser will retire and seek formal shareholder approval for his election at the Annual Shareholders' Meeting which will take place later this year. Further details will be contained in the Notice of Annual Shareholder Meeting. Annuncio • Aug 07
Meridian Energy Limited, Annual General Meeting, Oct 20, 2026 Meridian Energy Limited, Annual General Meeting, Oct 20, 2026. Annuncio • Aug 01
Meridian Energy Limited Receives Key Remaining Resource Consent from Palmerston North City Council Meridian Energy received the key remaining resource consent from Palmerston North City Council that enables the 172 MW repowering of its Te Rere Hau Wind Farm in Manawat. This consent was required to accommodate the relocation of an Airways communication facility to a new site. Additional consents are required for minor road upgrades. Te Rere Hau wind farm is located near Palmerston North on the Tararua Ranges. It has 91 small turbines with generation capacity of 45.5 MW. When approved, the repowering project will involve the construction and operation of up to 40 new turbines, with generation capacity of up to 172 MW. It is New Zealand's first wind farm repowering project and is expected to generate seven times the annual energy production of the existing wind farm. A final investment decision is expected from the Meridian Board in early 2027, but work is already underway on upgrading access roads to the site. Notizie in diretta • Aug 01
Meridian Energy Wins Key Approval for 172MW Te Rere Hau Wind Farm Upgrade Meridian Energy has secured final resource consent from Palmerston North City Council for the 172MW repowering of the Te Rere Hau Wind Farm, which includes replacing existing turbines with up to 40 new units and work already underway on access road upgrades.
The consent clears a major regulatory hurdle for Meridian’s New Zealand wind portfolio and sets up a potential capacity increase, with the Board expected to make a final investment decision on the project in early 2027.
Meridian Energy shares last traded at NZ$5.70, with the stock up 1.8% year to date.
This consent moves Te Rere Hau from concept to a more advanced planning phase, even though the final go or no-go call is not due until 2027. The project adds another large-scale option to Meridian Energy’s future build queue, but also introduces timing and execution risk around costs, supply chains and eventual returns on the capital committed. Notizie in diretta • Jul 27
Meridian Energy Receives Approval for 110 MW Morrinsville Solar Farm Expansion Meridian Energy has received consent to build a 110 MW solar farm near Morrinsville in New Zealand, clearing a key regulatory step for adding new renewable generation capacity.
The planned Morrinsville project represents a sizable addition to Meridian Energy’s solar portfolio, supporting its focus on renewable infrastructure and creating a potential new source of electricity sales once operational.
Meridian Energy shares trade at NZ$5.78, with the stock up 3.2% year to date, giving investors some recent context as the company advances its solar pipeline.
This consent approval points to a growing mix of renewable assets for Meridian Energy, but also raises practical questions around construction cost, timeline, and how quickly the 110 MW project might contribute to earnings once built and connected to the grid. Notizie in diretta • Jun 19
Meridian Energy Stock Gains Long-Term Certainty With 35-Year Waitaki Scheme Approval Meridian Energy has received a 35-year extension from the New Zealand Environment Court to operate the Waitaki Power Scheme.
The approval allows Meridian Energy to retain its current generation capacity, storage levels, and operating conditions at Waitaki.
As part of the agreement, Meridian Energy will undertake additional indigenous biodiversity management in the local catchment.
This long-duration consent provides Meridian Energy with clearer long-term operational certainty for one of its core hydro assets, which can help support planning for maintenance, capital spending, and long-term contracting.
Investors may want to watch how the added biodiversity commitments translate into ongoing environmental, social, and governance obligations and costs over the life of the approval. Annuncio • Jun 17
Meridian Energy Limited to Report Fiscal Year 2026 Results on Aug 26, 2026 Meridian Energy Limited announced that they will report fiscal year 2026 results on Aug 26, 2026 Notizie in diretta • Jun 08
Meridian Energy Moves Closer to Expanding Storage Capacity With Draft Regulatory Approval Meridian Energy has received draft regulatory approval for its contingent storage project.
The draft approval marks an important step in the company’s plan to expand its energy infrastructure capacity.
This draft approval signals progress on a key project that, if fully approved and developed, could influence Meridian’s future storage capability and operational flexibility.
You should watch for the final approval decision, project timelines and any updates on capital spending, as these will shape how material this storage project becomes for the business. Annuncio • Jun 06
Meridian Energy Limited Receives Draft Approval from Fast-Track Panel to Ease Access Restrictions on Lake Pkaki Hydro Storage and Install Rock Armouring Meridian Energy Limited welcomed the Fast-track Panel's draft decision proposing the easing of access restrictions on Lake Pkaki hydro storage for a three-year period. Meridian sought approval under the Fast-track Approvals Act to allow access to water stored between 518 and 513 metres above sea level prior to the point where Transpower estimates there is a 4% risk of electricity shortage. While welcoming the decision Meridian also respects and appreciates the views of commenters in the Fast-track process that raised concerns regarding eased access to contingent storage. Given these concerns and the positive hydro storage outlook for Winter 2026, Meridian proposes, if the draft decision is confirmed, to continue for the rest of 2026 to treat half of the five metres of contingent storage as only accessible when there is a heightened risk to security of supply. The company plans to hold further discussions with key electricity industry stakeholders during 2026 on this topic. In addition to the contingent storage access, the Fast-track Panel's draft decision also grants Meridian permission to permanently install rock armouring at Pkaki Dam to ensure its resilience to wave erosion when operating the lake at lower levels. The Panel is required to release its final decision by 3 July 2026. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director David Carter was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Mar 01
First half dividend of NZ$0.074 announced Shareholders will receive a dividend of NZ$0.074. Ex-date: 5th March 2026 Payment date: 24th March 2026 Dividend yield will be 4.3%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (119% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Feb 27
First half 2026 earnings released: EPS: NZ$0.086 (vs NZ$0.047 loss in 1H 2025) First half 2026 results: EPS: NZ$0.086 (up from NZ$0.047 loss in 1H 2025). Revenue: NZ$2.01b (down 11% from 1H 2025). Net income: NZ$227.0m (up NZ$348.0m from 1H 2025). Profit margin: 11% (up from net loss in 1H 2025). Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 7.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Annuncio • Feb 25
Meridian Energy Limited Announces Ordinary Unfranked Dividend for the Six Months Ended December 31, 2025, Payable on March 24, 2026 Meridian Energy Limited announced ordinary unfranked dividend of NZD 0.06400000 per security for the six months ended December 31, 2025. Dividend payable on March 24, 2026, record date of March 6, 2026 and ex-date of March 5, 2026. Annuncio • Dec 15
Meridian Energy Limited to Report First Half, 2026 Final Results on Feb 25, 2026 Meridian Energy Limited announced that they will report first half, 2026 final results on Feb 25, 2026 Annuncio • Dec 05
Meridian Energy Limited Announces Resignation of Michelle Henderson as Independent Director, Effective 27 January 2026 Meridian Energy Limited announced resignation of Michelle Henderson as independent director, effective 27 January 2026. Michelle's resignation follows her appointment as the new General Manager of New Zealand Aluminium Smelters (NZAS) at Tiwai. Annuncio • Oct 28
Meridian Energy Limited Appoints Kylie Reiri as Future Director, Effective 3 November 2025 The Meridian Energy Board announced the appointment of Kylie Reiri (Ngi Tahu, Ngti Kahungunu, Rangitne) as its next Future Director, effective 3 November 2025. Kylie has had a career in a range of private and public sector roles dedicated to improving outcomes for New Zealanders through data-driven decision making including her current role as Deputy Chief Executive Transformation, Technology and Enabling Services with the Social Investment Agency. Prior to this Kylie was a Partner at PwC where she led work across the Mori economy and the Finance, Economics and Analytics practice. She has experience building and leading start-up companies, including serving as CEO of Nicholson Consulting and co-founding Impact Lab. Her leadership has been recognised with several awards, including NZ IT Professional of the Year 2021 and the IT People Leadership award. She serves on the Data Science and AI Board at Te Herenga Waka-Victoria University of Wellington, advocating for accelerated adoption of new technologies in safe and considered ways. Of Ngti Kahungunu, Rangitne and Ngi Tahu descent, Kylie brings strong cultural capability to her role. She is passionate about ensuring every child in Aotearoa New Zealand has the opportunity to thrive. Kylie lives in Wellington with her partner and their three tamariki, who they are raising in a bilingual te reo Mori home. Annuncio • Oct 21
Meridian Energy Limited Declares Final Cash Dividend for the Fiscal Year 2025 That strong balance sheet meant Meridian Energy Limited was also able to provide stable returns to shareholders, with the Board declaring a final ordinary dividend of 14.85 cents per share. This brings the total ordinary dividends declared in FY25 to 21.00 cents per share. The Board approved continuation of the Dividend Reinvestment Plan at a 2% discount. Declared Dividend • Aug 29
Final dividend of NZ$0.17 announced Shareholders will receive a dividend of NZ$0.17. Ex-date: 4th September 2025 Payment date: 23rd September 2025 Dividend yield will be 4.2%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (410% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 27
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: NZ$0.17 loss per share (down from NZ$0.17 profit in FY 2024). Revenue: NZ$4.84b (flat on FY 2024). Net loss: NZ$452.0m (down 205% from profit in FY 2024). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 7.4%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 08
Consensus EPS estimates increase by 835%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from NZ$4.76b to NZ$4.70b. EPS estimate rose from NZ$0.0036 to NZ$0.0335. Net income forecast to grow 116% next year vs 20% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$6.35. Share price fell 2.4% to NZ$5.60 over the past week. Annuncio • Aug 07
Meridian Energy Limited, Annual General Meeting, Oct 21, 2025 Meridian Energy Limited, Annual General Meeting, Oct 21, 2025. Location: wellington New Zealand Major Estimate Revision • Jul 25
Consensus EPS estimates fall by 49% The consensus outlook for fiscal year 2025 has been updated. 2025 consensus EPS estimate fell from NZ$0.007 to NZ$0.0036. Revenue forecast reaffirmed at NZ$4.76b. Net income forecast to grow 137% next year vs 17% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$6.30. Share price was steady at NZ$5.78 over the past week. Annuncio • Jun 26
Meridian Energy Limited to Report Fiscal Year 2025 Results on Aug 27, 2025 Meridian Energy Limited announced that they will report fiscal year 2025 results on Aug 27, 2025 Major Estimate Revision • May 16
Consensus EPS estimates increase by 22% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from NZ$0.048 to NZ$0.058. Revenue forecast steady at NZ$4.89b. Net income forecast to grow 134% next year vs 15% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$6.30. Share price fell 2.2% to NZ$5.67 over the past week. Annuncio • May 15
Meridian Energy Limited (NZSE:MEL) agreed to acquire branded electricity customers, hedge book and brand of Flick Energy Limited. Meridian Energy Limited (NZSE:MEL) agreed to acquire branded electricity customers, hedge book and brand of Flick Energy Limited on May 13, 2025. In a related transaction, Meridian Energy Limited agreed to acquire branded electricity customers of Z Energy Limited for a combined consideration of NZD 70 million. Major Estimate Revision • Apr 18
Consensus EPS estimates fall by 24%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NZ$4.90b to NZ$4.97b. EPS estimate fell from NZ$0.068 to NZ$0.051 per share. Net income forecast to grow 138% next year vs 14% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$6.39. Share price was steady at NZ$5.67 over the past week. Major Estimate Revision • Mar 05
Consensus EPS estimates fall by 36%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NZ$5.04b to NZ$5.27b. EPS estimate fell from NZ$0.097 to NZ$0.062 per share. Net income forecast to grow 149% next year vs 18% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$6.45. Share price was steady at NZ$5.77 over the past week. Buy Or Sell Opportunity • Mar 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to NZ$5.85. The fair value is estimated to be NZ$7.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 29%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings are forecast to grow by 26% per annum over the same time period. Reported Earnings • Feb 28
First half 2025 earnings released: NZ$0.047 loss per share (vs NZ$0.074 profit in 1H 2024) First half 2025 results: NZ$0.047 loss per share (down from NZ$0.074 profit in 1H 2024). Revenue: NZ$2.26b (up 6.8% from 1H 2024). Net loss: NZ$121.0m (down 163% from profit in 1H 2024). Revenue is expected to decline by 4.0% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 8.9%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Annuncio • Feb 20
Meridian Energy Limited (NZSE:MEL) entered into a Scheme Implementation Agreement to acquire remaining 80.01% stake in NZ Windfarms Limited (NZSE:NWF) from Salt Funds Management Limited and Robert Stone for NZD 72.7 million. Meridian Energy Limited (NZSE:MEL) entered into a Scheme Implementation Agreement to acquire remaining 80.01% stake in NZ Windfarms Limited (NZSE:NWF) from Salt Funds Management Limited and Robert Stone for NZD 72.7 million on February 19, 2025. A cash consideration valued at NZD 0.25 per share will be paid by Meridian Energy Limited. Upon completion, Meridian Energy Limited will own 100% stake in NZ Windfarms Limited.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders and subject to court approval. The deal has been unanimously approved by the board.
Russell McVeagh acted as legal advisor for Meridian Energy Limited. Clare Capital Limited acted as financial advisor for Meridian Energy Limited. Major Estimate Revision • Feb 05
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NZ$4.85b to NZ$5.04b. EPS estimate fell from NZ$0.109 to NZ$0.097 per share. Net income forecast to shrink 40% next year vs 18% growth forecast for Renewable Energy industry in New Zealand . Consensus price target broadly unchanged at NZ$6.52. Share price was steady at NZ$5.82 over the past week. Annuncio • Dec 16
Meridian Energy Limited to Report First Half, 2025 Results on Feb 26, 2025 Meridian Energy Limited announced that they will report first half, 2025 results on Feb 26, 2025 Major Estimate Revision • Oct 16
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NZ$5.64b to NZ$4.94b. EPS estimate fell from NZ$0.143 to NZ$0.136 per share. Net income forecast to shrink 18% next year vs 20% growth forecast for Renewable Energy industry in New Zealand . Consensus price target broadly unchanged at NZ$6.57. Share price was steady at NZ$5.85 over the past week. Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 21%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NZ$5.49b to NZ$5.66b. EPS estimate fell from NZ$0.183 to NZ$0.145 per share. Net income forecast to shrink 11% next year vs 21% growth forecast for Renewable Energy industry in New Zealand . Consensus price target broadly unchanged at NZ$6.56. Share price was steady at NZ$6.17 over the past week. Declared Dividend • Aug 30
Final dividend increased to NZ$0.17 Dividend of NZ$0.17 is 25% higher than last year. Ex-date: 4th September 2024 Payment date: 20th September 2024 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (127% earnings payout ratio) nor is it covered by cash flows (157% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 41% to bring the payout ratio under control. EPS is expected to grow by 12% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 28
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NZ$0.17 (up from NZ$0.037 in FY 2023). Revenue: NZ$4.86b (up 51% from FY 2023). Net income: NZ$429.0m (up 352% from FY 2023). Profit margin: 8.8% (up from 2.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is expected to decline by 3.9% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 9.1%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annuncio • Aug 28
Meridian Energy Limited Declares Partially Imputed Final Ordinary Dividend for the Fiscal Year Ended June 30, 2024, Payable on 20 September 2024 The Board of Meridian Energy Limited declared a partially imputed final ordinary dividend of 14.85 cents per share. This brings the total ordinary dividends declared in fiscal year 2024 to 21.00 cents per share. Record date is 5 September 2024. Dividend payment date is 20 September 2024. Annuncio • Aug 01
Meridian Energy Limited, Annual General Meeting, Oct 15, 2024 Meridian Energy Limited, Annual General Meeting, Oct 15, 2024. Annuncio • Jun 27
Meridian Energy Limited to Report Fiscal Year 2024 Results on Aug 28, 2024 Meridian Energy Limited announced that they will report fiscal year 2024 results on Aug 28, 2024 Major Estimate Revision • Jun 01
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from NZ$0.136 to NZ$0.15. Revenue forecast unchanged at NZ$4.27b. Net income forecast to grow 405% next year vs 26% growth forecast for Renewable Energy industry in New Zealand. Consensus price target broadly unchanged at NZ$5.86. Share price rose 8.2% to NZ$6.76 over the past week. Price Target Changed • May 01
Price target increased by 7.2% to NZ$5.84 Up from NZ$5.45, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of NZ$6.00. Stock is up 12% over the past year. The company is forecast to post earnings per share of NZ$0.13 for next year compared to NZ$0.037 last year. Declared Dividend • Mar 01
First half dividend of NZ$0.07 announced Shareholders will receive a dividend of NZ$0.07. Ex-date: 8th March 2024 Payment date: 26th March 2024 Dividend yield will be 3.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (362% earnings payout ratio) nor is it covered by cash flows (236% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 302% to bring the payout ratio under control. EPS is expected to grow by 235% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annuncio • Mar 01
Meridian Energy Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 26, 2024 Meridian Energy Limited announced ordinary fully paid foreign exempt dividend of NZD 0.07018235 per security for the six months ended December 31, 2023. Ex date is March 8, 2024; Record date is March 11, 2024; Payment date is March 26, 2024. Annuncio • Dec 05
Meridian Energy Limited to Report First Half, 2024 Results on Feb 28, 2024 Meridian Energy Limited announced that they will report first half, 2024 results on Feb 28, 2024 Annuncio • Aug 30
Meridian Energy Limited Announces Final Ordinary Dividend for the Six Months Ended June 30, 2023, Payable on September 22, 2023 Meridian Energy Limited announced final ordinary dividend of 11.90 cents per share for the six months ended June 30, 2023. Record Date is September 7, 2023. Ex Date is September 6, 2023. Payment Date is September 22, 2023. Reported Earnings • Aug 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NZ$0.037 (down from NZ$0.17 in FY 2022). Revenue: NZ$3.22b (down 13% from FY 2022). Net income: NZ$95.0m (down 79% from FY 2022). Profit margin: 2.9% (down from 12% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 69%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Global Renewable Energy industry. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 29
Meridian Energy Limited, Annual General Meeting, Oct 12, 2023 Meridian Energy Limited, Annual General Meeting, Oct 12, 2023. Annuncio • Jul 13
Meridian Energy Limited Appoints David Carter as A Non-Executive Director with Effect from 25 July 2023 Meridian Energy Limited advised that it intends to appoint David Carter as a Non-Executive Director with effect from 25 July 2023. David brings broad expertise in the civil engineering, infrastructure, strategy, and management spaces and will add to the Board's skills and expertise following the retirement of longstanding Director, Mark Cairns, whose term concludes at the Company's Annual Shareholders' Meeting later this year. David holds a BE (Civil) with Honours and a ME with distinction from Auckland University New Zealand, as well as a PhD (Geotechnical Engineering) from the University of California at Berkeley in the United States of America. David has been with the Beca group of companies since 1988 and over his 30 plus years of experience has held various positions within the group. Since 2017 Mr. Carter has been the Group Executive Chair at Beca Group Ltd. - one of the largest independent advisory, design, engineering and related services consultancies in the Asia-Pacific. A civil engineer by profession, David has worked across a diverse range of sectors both within New Zealand and offshore, from airports to ports, and wastewater treatment plants to heavy duty pavements. He has worked on remediation of the Larona hydro canal and on foundations for high rise structures. During his career he has worked on a range of major projects including the Victorian (Australia) Desalination plant as a board member of the design JV. He was also a technical reviewer of the resource consent for the Kioreweku Hydroelectric project. Annuncio • Jun 30
Meridian Energy Limited to Report Fiscal Year 2023 Results on Aug 29, 2023 Meridian Energy Limited announced that they will report fiscal year 2023 results on Aug 29, 2023 Recent Insider Transactions • Mar 10
Chief People Officer recently sold NZ$538k worth of stock On the 6th of March, Jason Stein sold around 100k shares on-market at roughly NZ$5.37 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of NZ$443k more than they bought in the last 12 months. Reported Earnings • Mar 01
First half 2023 earnings released: EPS: NZ$0.078 (vs NZ$0.056 in 1H 2022) First half 2023 results: EPS: NZ$0.078 (up from NZ$0.056 in 1H 2022). Revenue: NZ$1.53b (down 8.6% from 1H 2022). Net income: NZ$201.0m (up 39% from 1H 2022). Profit margin: 13% (up from 8.7% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Dec 21
Meridian Energy Limited Announces the Appointment of Benjamin Bateman as Director , Effective 28 February 2023 The Meridian Energy Board announced the appointment of Benjamin Bateman (Ngi Tahu) as its next Future Director, effective 28 February 2023. Benjamin has had a career in a range of public service roles related to national security, including for the Department of Prime Minister and Cabinet. He was recently appointed Chief Operating Officer at Te Rnanga o Ngi Tahu. Annuncio • Dec 15
Meridian Energy Limited to Report First Half, 2023 Results on Mar 01, 2023 Meridian Energy Limited announced that they will report first half, 2023 results on Mar 01, 2023 Board Change • Oct 31
High number of new directors Independent Non-Executive Director Graham John Cockroft was the last director to join the board, commencing their role in 2022. Recent Insider Transactions • Sep 01
Independent Non-Executive Director recently bought NZ$102k worth of stock On the 25th of August, Graham John Cockroft bought around 20k shares on-market at roughly NZ$5.10 per share. This transaction increased Graham John's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold NZ$101k more in shares than they bought in the last 12 months. Upcoming Dividend • Aug 31
Upcoming dividend of NZ$0.13 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 23 September 2022. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 3.5%. Lower than top quartile of New Zealander dividend payers (5.8%). In line with average of industry peers (3.2%). Reported Earnings • Aug 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NZ$0.17 (up from NZ$0.17 in FY 2021). Revenue: NZ$3.70b (down 14% from FY 2021). Net income: NZ$451.0m (up 5.4% from FY 2021). Profit margin: 12% (up from 10.0% in FY 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Over the next year, revenue is expected to shrink by 7.2% compared to a 407% growth forecast for the Renewable Energy industry in New Zealand. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. 