Ann: Dividend/Distribution - TPC, page-27

CovaU gets the majority of their revenue from business customers so lockdowns will be negative.

As of end of March they had:

Electricity:
- 4,224 residential customers
- 5,507 small business customers
- 154 large customers

Gas:
- 2,611 residential customers
- 2,737 small business customers

(source: https://www.aer.gov.au/retail-markets/performance-reporting)

I note in their accounts they applied for and received JobKeeper - so revenues must have been down 30% over Covid...

Looking at half years for last two years:
- HY 31Dec18 = $39m rev, $495k loss
- HY 30Jun20 = $44.3m rev, $2.2m loss
- HY 31Dec19 = $44.5m rev, $2.4m profit
- HY 30Jun20 = $41.3m rev, $0.51m profit

For fairness Jobkeeper is excluded from above numbers.

Overall it was not a great half.

Judging by the reviews they get a large portion of their customers are in NSW so hopefully we see a bounce back in revenues and profits again this half.