Trustpower Limited (NZX: TPW) FY22 Market Guidance

Tuesday 18th May 2021

While the ongoing strategic review has created considerable uncertainty due to investor demand, Trustpower wishes to provide the following market guidance for FY-2022, assuming the retail business is held for the course of the year:

Group EBITDAF in the range of $200 - $225 million.

This assumes:

• Forward wholesale electricity prices in line with the forward price curve currently observed.

• Generation volumes of 1,863 GWh (~4% below average), reflective of current storage and hydrology.

• Overall customer numbers in line with current levels however telco connections reaching ~121,000.

• Average temperatures and customer consumption.

Note that current wholesale pricing and hydrology volatility make forecasting financial impacts more challenging.

Group CAPEX in the range of $43 – $59 million.

This is made up of:

• Generation $29 - $40 milllion. Reflective of ongoing enhancement, safety, and modernisation programmes. Range reflects uncertainty in timing.

• Technology and business improvement $12 - $16 million

• Other $2 - $3 million

Please see the link below for details

FY22 Market Guidance

Source: Trustpower Limited

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