InvestSMART

Meridian Energy Limited (ASX:MEZ)

ALERT: Price-sensitive ASX Announcement for MEZ
Current share price for MEZ : $4.700 -0.06 (-1.26%)+
Announcement
Release
25 Feb 2026 7:30AM
Price at Release
$4.760
Full Release
download
Summary
Meridian Energy Limited reported its interim results for the six months ended 31 December 2025. The company experienced a notable increase in net profit after tax, reaching NZ$227 million, compared to a loss of NZ$121 million during the same period in the previous year. This improvement was primarily driven by higher earnings before interest, tax, depreciation, amortisation, and fair value changes (EBITDAF), which increased to NZ$506 million, up from NZ$257 million. The increase in net profit was attributed to improved energy margins and significant reductions in energy hedging costs. Operating revenue decreased by 11% to NZ$2,008 million due to lower generation revenue. Additionally, Meridian's hydrology and storage conditions improved significantly, contributing to robust operational performance. The company's financial position remained strong, with total shareholders' equity of NZ$8,890 million as of 31 December 2025.
Key Points
  • Net profit after tax for 1H FY26 was NZ$227 million.
  • EBITDAF increased to NZ$506 million from NZ$257 million in the previous period.
  • Operating revenue fell by 11% to NZ$2,008 million.
  • Energy margin improved due to reduced hedging costs.
  • Hydrology and storage conditions were above historical averages.
  • Total shareholders' equity was NZ$8,890 million by the end of 2025.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.