Second quarter FY17 production and revenue

Infigen Energy (ASX: IFN) today reported unaudited production and revenue for the three months ended 31 December 2016 (Q2 FY17). Infigen will release its FY17 interim financial results
(H1 FY17) on 22 February 2017. Accordingly, the following H1 FY17 production and revenue results remain subject to audit review.

PRODUCTION AND REVENUE FOR Q2 FY17

  Q2 FY17 Q2 FY16 Change %
Production (GWh) 453 361 25
Revenue (A$million) 52.4 43.0 22
Price (A$/MWh) 115.7 119.1 (3)

Production of 453 GWh for Q2 FY17 was 25% or 92 GWh higher than the prior corresponding period (pcp) primarily due to better wind resource in New South Wales and South Australia.

Revenue of $52.4 million for Q2 FY17 was 22% or $9.4 million higher than the pcp primarily due to higher production.

The average bundled price for the sale of electricity and Large-scale Generation Certificates (LGCs) of $115.7/MWh was 3% or $3.4/MWh lower than the pcp primarily due to higher marginal loss factors at the Lake Bonney wind farms, and lower dispatch weighted average prices in South Australia, partially offset by higher average LGC prices.

PRODUCTION AND REVENUE FOR H1 FY17

  H1 FY17 H1 FY16 Change %
Production (GWh) 889 754 18
Revenue (A$million) 115.4 83.4 38
Price (A$/MWh) 129.8 110.6 17

Production of 889 GWh for H1 FY17 was 18% or 135 GWh higher than the pcp.

Revenue of $115.4 million for H1 FY17 was 38% or $32.0 million higher than the pcp.

The average bundled price for the sale of electricity and LGCs of $129.8/MWh was 17% or $19.2/MWh higher than the pcp.

GUIDANCE

Following a strong revenue performance to date Infigen now expects FY17 EBITDA to be approximately $140 million.  The expected $4 million profit on the sale of the Manildra solar development project would be in addition to this. Further details of the factors contributing to EBITDA guidance will be provided in the FY17 interim financial results materials.

ENDS

 

For further information please contact:

Richie Farrell
General Manager, Strategy & Corporate Affairs

Marju Tonisson
Manager, ESG & Investor Relations

Tel +61 2 8031 9900

Download the PDF file: Production and Revenue Report Q2 FY17

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