Tilt Renewables (ASX:TLT) downgrades EBITAF guidance

Company News

by Katrina Bullock

Tilt Renewables (ASX:TLT) now expects EBITDAF for the 2021 financial year to be in the range of $65 to $80 million.

This is a substantial decrease from its earlier guidance in May where the company signalled a range of $80 to $95 million.

This will be negative news for Infratil shareholders (ASX:IFT) as the company now owns a 65 per cent shareholding in Tilt.

The downgrade is attributed to restrictions on production at the Dundonnell Wind Farm in Western Victoria. Tilt CEO, Deion Campbell urged investors to remember that the new windfarm with over 80 turbines “is a long term infrastructure asset which will eventually move to full production and produce strong cashflows for more than 30 years”.

Shares in Tilt Renewables (ASX:TLT) last traded at $3.30.

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.