NEW is an ‘Investment Entity’ under AASB 10 and therefore does not consolidate its
subsidiaries. NEW recognises income and fair value movements from its investments
2
1
3
4
• Fair value movements in investments including A$1.3m of
unrealised foreign exchange gains
1
• Primarily interest income on the loan from New Energy
Solar Fund to NES US Corp., a subsidiary of New Energy
Solar Limited
2
• Foreign exchange gain on cash balances and USD
receivables 3
4 • Operating costs of the stapled structure
A$ FY19
Fair Value movement - plants (11,318,093)
Fair Value movement – USF investment 1,377,116
Foreign exchange gain/(loss) (17,857)
Finance and dividend Income 10,332,733
Total net income 373,899
Finance Expenses (956,765)
Responsible entity fees (180,899)
Investment management fees (2,257,493)
Other operating expenses (2,306,374)
Total Expenses (5,701,531)
Profit/(loss) before tax (5,327,632)
Income tax benefit/(expense) 1,149,414
Profit/(loss) after tax (4,178,218)
Notes: Presented on a combined basis for New Energy Solar Limited and
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