IFT
31/03/2015 09:00
ADDRESS
NOT PRICE SENSITIVE
REL: 0900 HRS Infratil Limited
ADDRESS: IFT: Infratil Investor Day 2015
Infratil has released the full package of presentation material for the
annual investor day to be held in Wellington today. The presentations cover
the global infrastructure market with more detailed discussion on the
Infratil portfolio, New Zealand and Australian retirement markets, Trustpower
and Wellington Airport.
CEO Marko Bogoievski outlined the major factors influencing the current
infrastructure market and confirmed Infratil's approach to delivering
long-term returns to shareholders.
"The recent divestment of Lumo Energy has placed Infratil in an unprecedented
position of financial flexibility. Capacity for further investment remains
strong and confidence around the investment pipeline is increasing following
several years of focused development."
In discussing today's infrastructure market, Mr Bogoievski said "the
competition for low-risk assets from global investors highlighted the value
of our existing businesses and the importance of Infratil being able to
consider early-stage development opportunities. The long-term trends around
infrastructure all demand a significant increase in investment and are
favourable for our long-term outlook. Our near term focus will be on building
out the existing renewables and retirement platforms while identifying
additional lines of business that can be developed over time."
Mr Bogoievski updated Infratil's guidance for the financial year ended 31
March 2015 and provided an initial outlook for the financial year ending 31
March 2016. The updated operating EBITDAF guidance (adjusted for Z
replacement cost) for 2015 is in the middle of the previous guidance range
due to slightly lower contributions from the impact of the weaker AUD$ on
earnings.
Referring to the outlook for the year ending 31 March 2016, Mr Bogoievski
said Infratil's expectation was for strong EBITDAF growth due to a full year
contribution from the Snowtown II generation plant in South Australia, a full
year contribution from RetireAustralia, and continued performance improvement
and investment across other businesses.
Bogoievski confirmed that the $36m buy-back previously announced in November
2014 prior to the investment in RetireAustralia would now be deferred pending
a full capital management update at the annual result on 19 May. The outlook
for Infratil's investments and the strength of the capital structure were
very positive for continued growth in dividends per share.
End CA:00262508 For:IFT Type:ADDRESS Time:2015-03-31 09:00:00
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