MEL - Meridian Energy profile

This is a basic profile of an NZX50 listed company. It is not investment advice. We recommend you contact a qualified adviser if you need more information.

Meridian Energy 

Directory

NZX code: MEL
Short name: Meridian Engery
Legal name: Meridian Energy Limited
Industry sector: Energy
NZX50 rank: of 50
Head office address: Level 2, 55 Lady Elizabeth Lane, Wellington 6011
Chairman: Mark Verbiest
Chief executive: Neal Barclay
Financial year ended: June
Locations: New Zealand
Auditor: Deloitte
Bankers: Westpac

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Financial statement history
 

A. Recent trading and performance summary:

  Total
revenue
NPAT Earnings
per share
fye June bln mln cents
2016 $2.375 $185 7.2
2017 $2.319 $197 7.7
2018 $2.762 $201 7.8
2019 $3.491 $339 13.2
2020 $3.405 $176 6.9

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B. Recent financial position summary:
 

  Total
assets
Total
Liabilities
Equity
ratio
fye June bln bln %
2016 $8.54 $3.49 59.1
2017 $8.67 $3.58 58.7
2018 $8.63 $3.81 55.9
2019 $9.66 $4.20 53.1
2020 $9.62 $4.54 52.8

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C. Recent cash flows and positions:

  Cash
inflows
Cash
outflows
Cash and equiv. 
at year end
fye June mln mln mln
2016 $452 $403 $118
2017 $470 $508 $80
2018 $427 $449 $60
2019 $635 $615 $78
2020 $605 $508 $176

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Description of trading activities 

Meridian Energy Limited is a New Zealand electricity generator and retailer. Today, Meridian operates seven hydroelectric power stations and one wind farm in the South Island of New Zealand, four wind farms in the North Island, and two wind farms in southern Australia. "All the electricity we generate comes from 100% renewable sources – wind, water and sun. Always will be. All the electricity that we supply to our customers comes from the electricity grid, which mixes electricity supplied from both renewable and non-renewable sources."

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CEO profile

Neal Barclay was appointed the Chief Executive of Meridian Energy in January 2018. He joined Meridian in 2008 as the Chief Financial officer. Prior to joining Meridian, Neal held a number of general manager and finance roles during a 13-year career with Telecom New Zealand Limited. He has a background in accounting and is a qualified chartered accountant. 


Chairman profile

Mark Verbiest joined the Meridian board in March 2017, and was appointed Chair in October 2019. He is currently serving on the boards of other organisations including: ANZ Bank New Zealand Ltd. (director), Freightways Ltd. (chairman), and the Advisory Board to New Zealand Treasury (Member). He is a former board member of the Financial Markets Authority and former Chairman of both Spark New Zealand Ltd. and Transport New Zealand Ltd.


Links:

Company website: https://www.meridianenergy.co.nz/
Investor information: https://www.meridianenergy.co.nz/investors
NZX listing: https://www.nzx.com/companies/MEL
Annual reports: https://www.meridianenergy.co.nz/investors/reports-and-presentations/annual-results-and-reports

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