Annual results are out.
https://www.nzx.com/files/attachments/242541.pdf
It seems to be a tradition to release negative results towards the end of the day, and NWF is in this regard no exception.
Anyway - more power generated at a lower price (we knew that bit already) and a $4.9m impairment assuming lower future power prices (based on MoB numbers) results in a $3.9m loss.
Cash increased despite the $1m one off payment from Windflow only by roughly 600k, this makes you wonder how the next year will go ... but hey, maybe they finally manage to reduce these annoying legal fees (still 433k). Doubt however the latter, given that the resource consent process is still lingering.
So we can do what we always did: hope for more wind, higher power prices and a better board.
But hey - they even talk about the board being prepared to consider a divie for 2017. This will bring the SP into the stratosphere! Hope though the consideration will not be too exhausting for the new board, otherwise they might need to increase the board fees.
Discl: not one of my better investments. This will teach me to invest in environmentally friendly technologies ...
Originally Posted by BlackPeter
Annual results are out.
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