Infratil (ASX:IFT) downgrades earnings

Company News

by Katrina Bullock

Infrastructure investment company, Infratil (ASX:IFT), has reduced its full year underlying EBITDAF from continuing operations by $74 million as a result of the sale of Snowtown 2.

Infratil (ASX:IFT) owns a 65 per cent stake in Tilt Renewables which recently penned a deal to sell its Snowtown 2 wind farm for over $1.07 billion.

The sale is expected to complete in December 2019.

Infratil provides earnings guidance on a ‘continuing operations’ basis meaning that operations which are disposed of during the year are excluded from earnings guidance and this approach is applied for the entire year.

Shares in Infratil (ASX:IFT) are flat at $4.77.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.