Mercury NZ Ltd. ( (MGHTF) ) has released its Q2 earnings. Here is a breakdown of the information Mercury NZ Ltd. presented to its investors.
Mercury NZ Ltd. is a leading energy company in New Zealand, primarily focused on electricity generation and retailing, with a strong emphasis on renewable energy projects. In its latest earnings report for the six months ending December 2024, Mercury highlighted its commitment to sustainable growth, investing over $1 billion in new renewable projects. Despite challenging economic conditions, the company reported an EBITDAF of $418 million, although it faced a net loss of $67 million due to non-cash movements in electricity derivatives. Key projects include the construction of the Kaiwaikawe Wind Farm and expansions at the Kaiwera Downs Wind Farm and Ngā Tamariki Geothermal Station. Looking forward, Mercury remains optimistic about the increasing demand for renewable electricity in New Zealand and is well-positioned to capitalize on this trend.