Energy, Land & Environment Sector
Meridian Energy Ltd (Meridian)
Meridian is a generator, wholesaler and retailer of electricity. Its core assets are the hydroelectric generation assets at Manapouri and on the Waitaki River,
and the Te Apiti and White Hill windfarms. It generates about 25% of New Zealand’s electricity and has around 65% of New Zealand’s total hydro storage. Meridian supplies power to the Bluff aluminium smelter.
Website: www.meridianenergy.co.nz (opens in a new window)
2009/12 Statement of Corporate Intent
(.pdf, 76kB)
Key Company Information
Key Company Data - Meridian Energy Ltd (Meridian)
| Company Form | State-owned enterprise |
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| Year of Establishment | 1999 |
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| Head Office | Wellington |
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| Chair (term expiry) | Wayne Boyd (April 2011) |
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| Deputy Chair | Ray Watson (April 2011) |
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| Board Membership | Mary Devine (April 2013)
Catherine Drayton (April 2012)
Chris Moller (April 2012)
Stephen Reindler (April 2011)
Brett Shepherd (April 2012)
Anne Urlwin (October 2010) |
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| CEO | Tim Lusk |
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| Balance Date | 30 June |
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| Number of FTE Staff | 637 |
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Key Financial Data
Meridian Energy Ltd (Meridian)
| Key Financial Data ($million) | 2004/05 | 2005/06 | 2006/07 | 2007/08 | 2008/09 |
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| Operating Revenue | 1648.3 | 2183.3 | 1763.7 | 2603.5 | 1892.4 |
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| EBITDAF | 542.3 | 439.9 | 454.7 | 370.8 | 512.6 |
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| Net Profit After Tax | 218.2 | 856.8 | 199.8 | 128.6 | 89.3 |
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| Shareholder Equity | 2469.1 | 4237.4 | 5542.1 | 4204.6 | 4284.1 |
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| Assets | 4348.6 | 5339.3 | 6667.6 | 7197.7 | 7177.3 |
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| Dividends | 141.8 | 1100.0 | 129.9 | 235.9 | 143.9 |
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| Return on Equity | 9.0% | 25.6% | 4.1% | 2.6% | 2.1% |
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| Return on Assets | 9.8% | 20.4% | 5.6% | 3.6% | 2.7% |
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| Gearing | 35.4% | 10.6% | 11.4% | 17.3% | 21.9% |
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Financial data correct as at 30 June 2009.
