Half Year 2022 Meridian Energy Ltd Earnings Call Transcript
(foreign language) Welcome to Meridian's results presentation for the half year to 31 December 2021. I'm Neal Barclay, Meridian's Chief Executive; and with me is Mike Roan, our CFO. I'll talk briefly to some of our business highlights, then I'll hand to Mike to drill into the financial result. I'll then round out the presentation with some commentary on the wider market environment and Meridian's strategic intent.
EBITDAF was flat year-on-year, but we think that's a pretty good result given the prior period included much better NZAS pricing. We have offset the lower NZAS revenues largely through continued great retail growth with a help in hand from higher generation volumes. The successful sale of Meridian Energy Australia kept plenty of the Meridian team very busy during the last few months, particularly this person sitting right next to me.
I think the transaction was completed seamlessly, and we will recognize a gain on sale of around $240 million at year-end. And whilst the Board and management are keen to reserve the bulk of the sale
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