Mercury NZ Limited (MGHTF) Q4 2026 Earnings Call Transcript

SA Transcripts 161.89K Followers Follow Mercury NZ Limited ( MGHTF ) Q4 2026 Earnings Call August 17, 2026 7:00 PM EDT Company Participants Stewart Hamilton - Chief Executive Officer Richard Hopkins - Chief Financial Officer Paul Ruedige - Head of Business Performance & Investor Relations Conference Call Participants Joshua Dale - Craigs Investment Partners Limited, Research Division Vignesh Nair - UBS Investment Bank, Research Division Andrew Harvey-Green - Forsyth Barr Group Ltd., Research Division Grant Swanepoel - Jarden Limited, Research Division Stephen Hudson - Macquarie Research Presentation Stewart Hamilton Chief Executive Officer [Foreign Language], everybody. Welcome to Mercury's presentation of our full year results for FY '26. My name is Stew Hamilton. I'm the Chief Executive of Mercury. I'm joined here today with Richard Hopkins, who is the Chief Financial Officer; and Paul Ruedige, who is our Head of Business Performance and Investor Relations. I'll cover off this year's performance and our growth outlook. Richard will talk to our financials and our capital settings. And then together, we'll answer your questions at the end of this presentation. The theme you'll see throughout today in this morning's presentation is one of a year of execution in which we have turned our strong earnings performance into outcomes. Three things that really define our FY '26 are listed on this first slide. We firstly are demonstrating resilient earnings. We're pleased to show disciplined growth, and we're backing that up with a balance sheet that is strength -- is strong. Covering off resilient earnings, first of all, our EBITDAF for the year was up 36% to $1,068 million, driven primarily through higher renewable energy generation and cost discipline. That cost discipline showed up through our operational expenditure being held at our $370 million target that we committed to deliver. That's down $26 million from FY '25 or 10% in real terms, really demonstrating our focused operational execution.