MNW - Manawa Energy

[shareman]

I just think it's general market sentiment why they're dropping and they're also seen as one of the weaker generators which I don't believe is fair as they have alot of geographic diversity

[kiora]

Excuse my ignorance
Where did all the power go then?

"Manawa’s generation increased 14% to 1110GWh and electricity sold to customers declined 8% to 536GWh"

[percy]

Two Brokers.
Two different views.
Craigs.Underweight.Price Target $4.22
Hobson.Outperform.PT $7.90.

[bottomfeeder]

Two Brokers.
Two different views.
Craigs.Underweight.Price Target $4.22
Hobson.Outperform.PT $7.90.

WTF. They are not even close to eachother.

[winner69]

WTF. They are not even close to eachother.

Craig’s guy probably that ex Genesis manager in past life …so industry expert

[Sideshow Bob]

https://www.nzx.com/announcements/428413

Independent power producer and renewable energy developer Manawa Energy (‘Manawa’) advises that the company’s EBITDAF for the year to 31 March 2024 is likely to be in the range of $142m to $147m, above the previous guidance range of $120m to $140m. Capital expenditure guidance remains unchanged at $65m to $80m.

The revision is driven by several factors, including an increased focus on operating efficiencies and value capture, favourable energy trading conditions in Q3 and Q4, and relatively strong irrigation demand. It is contingent on there being no material events for the remainder of the financial year.

Manawa has also continued to progress and expand its pipeline of renewable development options, with the following milestones achieved in recent months:

• secured resource consent from the Marlborough District Council for the previously announced Argyle Solar Farm (~28MWac), adjacent to its Branch River hydro power scheme in Marlborough. Manawa is currently preparing a resource consent application for an expansion of the Argyle Solar Farm up to ~65MWac that is expected to be lodged in early FY25; and

• secured land options for a potential 100MW wind farm opportunity in Marlborough, along with a ~200MWac solar opportunity in the Mackenzie Basin, taking Manawa’s secured pipeline of wind and solar options to more than 1.2GW.

[bottomfeeder]

Let's hope this takes the SP to Hobsons choice of $7.90.

[huxley]

EBITDAF from continuing operations of $145m (up 6%)

Fully imputed final dividend of 11 cents per share (to be paid on 14 June 2024), lifting the full year ordinary dividend to 19 cents per share.

https://api.nzx.com/public/announcem...301-418726.pdf

[Filthy]

pretty solid result (as expected). they should get a DRP going to help retain some of the divie cash in the business - plus would also help with stock liquidity. have to pay for that pipeline of more than 1,200MW (to be developed) somehow, so would be a good way to help fund growth alongside the bonds.

[huxley]

Yeah I don’t know if a DRP is likely given the two largest shareholders, but they’ve mentioned the dividend policy is going to be reviewed with a view to align this with their new business model.