Half Year 2020 Meridian Energy Ltd Earnings Call Transcript
Good morning, everyone. I'm Neal Barclay, Chief Executive of Meridian. And I have with me Mike Roan, our Chief Financial Officer. Thank you for joining us for our interim results presentation for the 6 months to 31 December 2019.
We're really pleased to present fa record interim result with the EBITDAF up 20% on the prior year and net profit also lifted by 26%. To sum it up, the business has been buoyed by relatively high wholesale prices and significant hydro inflow events. But both of these factors create risk as well as opportunity, and I think we've managed the conditions exceptionally well. Meridian's near-term portfolio management has been very good, and our ability to win new customers at improved prices has really made this result.
Last year, we shared our strategic themes with you, and these 2 charts address our progress against these. I'll make some general comments now, and we'll touch on most of these themes throughout the presentation. The Electricity Price Review concluded with a range of initiatives that we think, on balance,
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