Production And Revenue Q1 FY15

Infigen Energy (ASX: IFN) today reported unaudited production and revenue for the three months ended 30 September 2014 (First Quarter FY15).

Production and revenue are on an economic interest basis.

 HIGHLIGHTS

Group production was 917 GWh, down 9% on the prior corresponding period (pcp)

  • United States production 542 GWh, up 5% on the pcp
  • Australian production 375 GWh, down 24% on the pcp

Group revenue was A$59.6 million, down 16% on the pcp

  • United States revenue US$24.5 million, up 6% on the pcp
    Australian revenue A$33.1 million, down 28% on the pcp
Group

Q1 FY15

Q1 FY14

% Change

Production
     
United States (GWh)
542
518
5
Australia (GWh)
375
491
(24)
Total (GWh)
917
1,009
(9)
Revenue
     
United States (US$m)
24.5
23.2
6
Australia (A$m)
33.1
46.0
(28)
Total (A$m)
59.6
71.3
(16)

PRODUCTION

Production for the First Quarter FY15 of 917 GWh was 9% or 92 GWh lower than the three months ended 30 September 2013 (pcp).

In the United States, production of 542 GWh for the First Quarter FY15 was 24 GWh higher than the pcp reflecting improved wind conditions at Allegheny Ridge and Sweetwater 4, and improved site availability at sites with Gamesa Warranty and Maintenance Agreements partially offset by weaker wind conditions at Buena Vista and Cedar Creek, and lower availability at Caprock and Aragonne.

In Australia, production of 375 GWh for the First Quarter FY15 was 24% or 116 GWh lower than the pcp primarily due to lower wind conditions across all assets despite consistent availability.

REVENUE

Revenue for the First Quarter FY15 of A$59.6 million was 16% or A$11.7 million lower than the pcp due to lower Australian production marginally offset by higher production in the United States.

In the United States, revenue of US$24.5 million for the First Quarter FY15 was 6% or US$1.3 million higher than the pcp primarily reflecting higher production for the period and higher prices at Crescent Ridge.

In Australia, revenue of A$33.1 million for the First Quarter FY15 was 28% or A$12.9 million lower than the pcp. This reflected lower production, lower merchant electricity prices mainly due to the repeal of the carbon price, and lower LGC prices due to regulatory uncertainty.

Further information is included In the Appendix

 

ENDS

 

For further information please contact:
Richard Farrell
Group Manager
Investor Relations and Strategy
P +61 2 8031 9900

Download the ASX release:

Production and Revenue Q1 FY15

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