TLT - Tilt Renewables

[horus1]

Funny thing is that the solar owners are not complaining but the electricity industry which is being bypassed is. With battery prices coming down fast, and fuel cells starting the networks will become optional within 10 years.

[blobbles]

Best thing for Aus to do is encourage electric cars and outfit commuter car parks with charge cables. Get commuter cars to be the batteries and you solve the problem plus lower oil imports. Instead of restrictions on supply try changing the demand curve.

[hardt]

I asked Flick why the spot prices were ridiculously high these past few weeks, often times hitting 80cents - 16/06/2018

"Regarding the recent spot price spikes, this was due to Huntly power station being turned on with the extreme cold that’s sweeping the country. It means that we’re seeing some more expensive, and dirtier energy in the mix.
In general the spot prices have been higher due to generation stations charging higher amounts for non renewable resources when this form of electricity generation is being put onto the national grid. This is because this current winter is looking really good for renewable resources which is why generators are upping the price when non renewable resources are being used to generate power."

If this great winter quarter for renewables only outperformed Tilts expectations by 5% then I would have had a real problem.
With this NZ quarter being 20% above expectations it proves, at least in my mind that TLT have obtainable long term expectations for their portfolio.

Spot prices in NZ and AU still remain below FY17, paired with the unpredictable nature of nature is why there is no update to guidance... yet.

REGION	$/MWh 2017	$/MWh 2018	VARIANCE
NSW	82.27	72.68	-11.66%
QLD	72.87	68.1	-6.55%
SA	98.1	75.41	-23.13%
VIC	92.33	70.18	-23.99%

I don't own tilt for absolute financial performance this year or even the next, their output is already 50% ahead of PCP of the back of a few of their minor projects being completed...
given some time and a few more developments they are going to be far bigger than the market seems to think is possible.

Was a very solid quarter.

http://nzx-prod-s7fsd7f98s.s3-websit...465/282343.pdf

[kiora]

Ssh Hardt,investors here only want the short sugar fix

[Snoopy]

Anybody worried about their debt position?

2017
L=879.8
Interest paid = 32.16
Interest rate = 32.16/879.8 = 3.66%

Not a close follower of Tilt. But assuming that figure you have quoted as L is the bank debt on the balance sheet at EOFY2017, perhaps you should use an average figure of debt by taking the debt at EOFY2016 and EOFY2017 and dividing that number by 2? After all the interest paid over the year will be based on the average loan size over the year. Not the loan balance at the end of the year.

Also with Tilt, a developer of new wind farms, some of the interest paid may be being capitalized on new development projects. That could make the actual interest paid as recorded in the accounts seem lower than the underlying interest bill really is.

32.16/3.66 = 8.93

So each interest rate percentage point represents $8.93m of interest being paid....

=2.23/0.25

...And each quarter percentage point represents $2.23m in interest payments.

Do these companies have long term fixed interest rates?

Underlying borrowing terms are usually listed and detailed in the annual report under the 'Borrowings' note. You should find your answer there.

If not does every 0.25% increase in interest rates wipe 2.23 mil off?

Assuming your figures are correct, then yes a 0.25% interest rate would wipe off $2.23m off net profit before tax, everything else being equal

***disc new to investing***

Welcome to the forum.

SNOOPY

[bull....]

good first quarter im picking an upgrade to yr end results at some stage and hence will benefit ift as well

[kiora]

Let the good times roll

[hardt]

https://www.nzx.com/announcements/322264

Long-term, this thing is worth so much more and MCY know it.... SEVERE LOWBALLING at $2.30

[huxley]

What do you reckon, use your TLT funds to double down on more IFT?

[kiora]

Plenty of scope for the future
http://www.sharechat.co.nz/article/4...22+August+2018