Financial Summary
Revenue
Going to Plan
- $1.8M, nearly all recurring revenue
- 40% increase in recurring revenue(asset mgmt. and royalties) compared to 1H17
- Most development revenue expected to be booked in 2nd half CY18 upon financial close of Lakeland
Operating Profits
Kiata Delivering
- Share of profits exceed plan due to asset performance and strong market pricing
- 1st 6 months, inclusive of commissioning ~$700K
- 2nd best performing wind farm in Australia by capacity factor
Costs
Well controlled
- In line with post-IPO expectations
- Development spend concentrated on late stage Australian assets(Lakeland, Big K); Greenwich; Miombo Hewani
Debt
CEFC facility partly repaid
- Repayment of $2M of CEFC facility in March 2018
- Remaining gearing $2.9m. Management reviewing size of remaining facility and opportunities to re-finance as operating projects come on line.
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