Contact Energy Limited ( (COENF) ) has released its Q2 earnings. Here is a breakdown of the information Contact Energy Limited presented to its investors.
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Contact Energy Limited, a prominent player in the New Zealand energy sector, is involved in the generation and retail of electricity, natural gas, and other energy-related services. The company is listed on both the New Zealand and Australian stock exchanges.
In its latest earnings report for the six months ended December 31, 2024, Contact Energy Limited reported a revenue increase to NZD 1,707 million from NZD 1,306 million in the same period the previous year. The company’s net profit for the period was NZD 142 million, a slight decrease from NZD 153 million in the prior corresponding period.
Key financial metrics from the report highlight an increase in operating expenses to NZD 1,263 million, compared to NZD 942 million in the previous year. Despite the rise in operating expenses, the company maintained strong cash flows, with operating cash flows reported at NZD 203 million. Contact Energy also noted significant capital investments, with additions to property, plant, and equipment totaling NZD 234 million.
Looking ahead, Contact Energy’s management remains focused on maintaining its operational efficiency and continuing its strategic investments in infrastructure. The company aims to enhance its energy generation capabilities while addressing market challenges, thereby positioning itself for sustained growth in the coming periods.
