https://www.nzx.com/announcements/407275
Highlights
• Safely and successfully transitioned from refinery to terminal operations on 1 April 2022
• Conversion project remains to plan and to budget - with some 65% of the budget either spent orcommitted, the project is significantly de-risked
• Reset cost of funding with successful retail bond issue completed in May 2022 and bankrefinancing completed in November 2022
• Transition to import terminal delivers first profit in three years
• New fuel demand outlook confirms stronger demand forecast for Channel Infrastructure over thelong term
• Return to dividends for shareholders, with a fully imputed final dividend of 5 cents per share and afully imputed special dividend of 2 cents per share (for 9 months of terminal operations)
Key Financial Results, including for the 9 months of import terminal operationsF
Y 2022Continuing operations EBITDA $57.5m
Net Profit before tax $23.1m
Dividend declared – final 5 cps Dividend declared – special 2 cps
Discontinued operations EBITDA $24.0m
Net Profit before tax $2.4m