Tilt Renewables wishes to advise of a transposition error which has been identified in Note 3 of the Consolidated financial statements for the year ended 31 March 2020.
The operating segment information contained in note 3 of the consolidated financial statements has been updated below to correct a transposition error between the New Zealand and Australia operating segments for the following items:
- Net fair value losses on financial instruments
- Net finance costs
The updated tables should be read as follows.
The segment results for the year ended 31 March 2020 are as follows:
| Generation New Zealand $000 | Generation Australia $000 | Generation Total $000 | |
| Revenue from external customers | 41,611 | 128,623 | 170,234 |
| Earnings before interest, tax, depreciation, amortisation and fair value movements (EBITDAF) | 24,281 | 93,245 | 117,526 |
| Net fair value losses on financial instruments | 462 | 8,976 | 8,514 |
| Depreciation | 21,001 | 51,538 | 72,539 |
| Net finance costs | 16,560 | 22,801 | 39,361 |
| Net surplus from sale of subsidiaries | - | (485,975) | (485,975) |
| Profit before income tax from continuing operations | (12,818) | 495,905 | 483,087 |
| Capital expenditure | 60,245 | 420,849 | 481,094 |
The segment results for the year ended 31 March 2019 are as follows:
| Generation New Zealand $000 | Generation Australia $000 | Generation Total $000 | |
| Revenue from external customers | 41,974 | 151,299 | 193,273 |
| Earnings before interest, tax, depreciation, amortisation and fair value movements (EBITDAF) 2 | 25,296 | 109,495 | 134,791 |
| Net fair value losses on financial instruments | 1,428 | 552 | 1,980 |
| Depreciation | 21,814 | 61,754 | 83,568 |
| Net finance costs | 4,887 | 25,244 | 30,131 |
| Profit before income tax from continuing operations | (2,833) | 21,945 | 19,112 |
| Capital expenditure | 2,580 | 116,024 | 118,604 |
For further information from Tilt Renewables, please contact:
Steve Symons
Chief Financial Officer
Tilt Renewables
Phone +61 419 893 746
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