Infratil Forecasts Another Year of Earnings Growth

   By David Winning 
 

SYDNEY--New Zealand investment company Infratil said it expects another year of earnings growth, as it builds on momentum provided by assets including CDC Data Centres and the post-pandemic travel recovery at Wellington Airport.

Infratil said it expects proportionate earnings before interest, tax, depreciation, amortization and financial derivative movements of between 570 million New Zealand dollars (US$357.4 million) and NZ$610 million in the 12 months through March, 2024.

At the midpoint of the forecast range, that would growth of 11% on the NZ$531.5 million Ebitdaf reported by Infratil for the 2023 fiscal year.

Statutory net profit for the 12 months through March totaled NZ$891.7 million, down 28%, on revenue of NZ$1.85 billion. The company reported a final dividend of 12.5 New Zealand cents a share.

Chief Executive Jason Boyes said Thematic tailwinds continue to provide valuable options for growth across Infratil's portfolio.

"Climate commitments from governments and societal demands are growing and will accelerate the transition to renewable energy, resulting in an unprecedented level of investment," he said. "Data demand and connectivity growth is showing no sign of slowing, which also creates further unique investment opportunities in this sector."

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

May 21, 2023 17:10 ET (21:10 GMT)

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