July 24, 2014 9:42 AM ET

Electric Utilities

Company Overview of SP Australia Networks (Distribution) Ltd.

Company Overview

SP Australia Networks (Distribution) Ltd. is engaged in the electricity distribution and transmission, and gas distribution activities in Australia. Its Electricity Distribution segment delivers electricity to approximately 658,000 consumer supply points approximately 80,000 square kilometres in eastern Victoria, including Melbourne’s outer eastern suburbs. The company’s Gas Distribution segment delivers natural gas to approximately 620,000 consumer connection points over 60,000 square kilometres in central and western Victoria, including western suburbs in Melbourne to commercial and residential end users. Its Electricity Transmission segment owns and manages the electricity transmission ne...

Level 31

2 Southbank Boulevard

Southbank, VIC 3006

Australia

Phone:

61 3 9695 6000

Fax:

61 3 9695 6666

Key Executives for SP Australia Networks (Distribution) Ltd.

Managing Director
Age: 54
Chief Financial Officer and General Manager of Finance
Company Secretary
General Manager of Strategy & Business Developmen
General Manager of Service Delivery
Compensation as of Fiscal Year 2014.

SP Australia Networks (Distribution) Ltd. Key Developments

SP Australia Networks (Distribution) Ltd. - Shareholder/Analyst Call

Annual General Meeting

SP Australia Networks (Distribution) Ltd., Annual General Meeting, Jul 17, 2014

SP Australia Networks (Distribution) Ltd., Annual General Meeting, Jul 17, 2014., at 10:00 AUS Eastern Standard Time. Location: ANZ Pavilion, The Arts Centre Melbourne, 100 St Kilda Road. Agenda: To receive and consider the company's financial statements and the reports of the Directors and the Auditor for the year ended 31 March 2014; to consider the re-election and election of Directors; to consider the remuneration report; to consider the change name of the company; and to consider the issue of Stapled Securities for Singapore law purposes.

SP AusNet Declares Final 2014 Distribution, Payable on June 27, 2014; Announces Consolidated and Company Earnings Results for the Full Year Ended March 31, 2014; Provides Gross Capex Guidance for the Full Year of 2015

SP AusNet declared a final 2014 distribution of 4.18 Australian cents per security, delivering on full year distribution guidance of 8.36 cents per security, up 2%. The 2014 final distribution of 4.18 Australian cents per security comprises 1.393 cents from a fully franked dividend (33.3%); 0.408 cents from a return of capital (9.8%); and 2.379 cents from interest income (56.9%). Payment date of final distribution is on June 27, 2014. Record date to identify securityholders entitled to final distribution is on May 28, 2014. ASX & SGX-ST ex-date for final distribution is on May 26, 2014. The company announced consolidated and company earnings results for the full year ended March 31, 2014. For the year, on consolidated basis, the company’s revenue was AUD 1,799.4 million against AUD 1,639.5 million a year ago. EBITDA was AUD 1,017.4 million against AUD 974.0 million a year ago. EBIT was AUD 647.7 million against AUD 651.2 million a year ago. Profit before income tax was AUD 305.4 million against AUD 315.3 million a year ago. Profit for the year was AUD 178.3 million against AUD 273.5 million a year ago. Adjusted EBITDA was AUD 1,075.1 million against AUD 974.0 million a year ago. Adjusted NPAT was AUD 305.4 million against AUD 273.5 million a year ago. Net debt was AUD 5.7 billion against AUD 4.7 billion a year ago. Net asset value per security was AUD 1.02. EBITDA decrease due to a AUD 1.2 million prior period accounting adjustment and changed contract profile. Net cash inflow from operating activities was AUD 730.2 million against AUD 568.6 million a year ago. Profit attributable to company was AUD 3.4 million against AUD 6.0 million a year ago. Basic and diluted earnings per share were 0.10 cents against 0.18 cents a year ago. Earnings per share from profit from continuing operations were 0.10 cents against 0.18 cents a year ago. Payments for property, plant and equipment was AUD 925.2 million against AUD 843.8 million a year ago. Capital expenditure was AUD 950.0 million against AUD 881.4 million a year ago. For the year, the company’s loss was AUD 77.0 million against AUD 77.4 million a year ago. For the full year of 2015, the company expects gross capex to be around AUD 865 million (excluding AMI remediation capex).

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