Full Year 2019 Meridian Energy Ltd Earnings Call Transcript
Good morning. I'm Neal Barclay, Chief Executive of Meridian Energy, and I have with me, Mike Roan, our CFO, and welcome to Meridian's Annual Results Presentation for the Year Ended June 2019. In short, the annual results have been extraordinary. There have been several significant factors outside of our control that have contributed strongly to Meridian's share price appreciation and our total shareholder return of 59%. Wholesale market prices have also worked in our favor, supporting EBITDAF growth of 26%. However, I do believe the result is underpinned by very strong execution and progress against our strategy, and these things are within our control. I'll talk to most of these key highlights as we go through this presentation.
But in summary, we reported double-digit Australasian customer growth, which reflects our leadership in sustainability, the strength of our brands and the quality of our customer care. We produced record New Zealand hydro generation of only slightly above average inflows. With the Ohau A refurbishment in full swing, we relied
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