December 25, 2014 3:13 AM ET

Electric Utilities

Company Overview of AusNet Services (Distribution) Limited

Company Overview

AusNet Services (Distribution) Limited 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 netwo...

Level 31

2 Southbank Boulevard

Southbank, VIC 3006

Australia

Phone:

61 3 9695 6000

Fax:

61 3 9695 6666

Key Executives for AusNet Services (Distribution) Limited

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.

AusNet Services (Distribution) Limited Key Developments

AusNet Services (Distribution) Limited Announces Earnings Results for the Six Months Ended September 30, 2014

AusNet Services (Distribution) Limited announced earnings results for the six months ended September 30, 2014. For the period, on an adjusted basis the company reported incurred a net loss of AUD 4.9 million in the six months ended September 30, compared with a net profit of AUD 97.7 million for the first half last year. Revenue was increased by 1.1% to AUD 971.3 million from AUD 961.2 million. EBITDA fell by 9% to AUD 529.4 million from AUD 581.8 million. The September 30 2014 net loss includes a settlement with the Australian Taxation Office in relation to the stapled structure audit of AUD 163.0 million and AMI rebates and write-offs of AUD 36.8 million. The September 30, 2013 net profit includes a net charge of AUD 86.7 million for the full amount of tax and interest potentially payable under the Section 163AA impost dispute with the ATO. Net tangible assets per stapled security were 86 cents at September 30, down from 92 cents a year earlier. The company incurred a net loss of AUD 4.9 million compared with a net profit of AUD 97.7 million for the first half last year. Loss attributable to the company was AUD 111.9 million against profit of AUD 48.1 million a year ago. Basic and diluted loss per share was AUD 3.28 against basic and diluted earnings per share was AUD 1.43 a year ago. Net cash inflow from operating activities was AUD 334.8 million against AUD 348.2 million a year ago. Payments for property, plant and equipment was AUD 423.2 million against AUD 475.8 million a year ago. Adjusted EBITDA was AUD 566.9 million against AUD 593.8 million a year ago. Adjusted net profit after tax was AUD 184.4 million against AUD 192.8 million a year ago.

AusNet Services (Distribution) Limited Declares Interim Distribution for 2015, Payable on 24 December 2014

AusNet Services (Distribution) Limited Directors have approved an interim distribution for 2015 of $143.1 million (4.180 cents per stapled security) to be paid on 24 December 2014 comprised of Fully franked dividend payable by AusNet Services Transmission of 2.200 cents per security and Interest income payable by AusNet Services Finance Trust of 1.980 cents per security. The record date is November 25, 2014.

SP Australia Networks (Distribution) Limited has Changed its Name to AusNet Services (Distribution) Limited

On July 17, 2014, SP Australia Networks (Distribution) Limited changed its name to AusNet Services (Distribution) Limited.

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