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Company News Summary

AusNet Services Releases Full Year 2019 Results and Presentation

13 May 2019  |  09:41:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Full Year 2019 Results Release and Presentation

AusNet Services released Full Year 2019 results and presentation. Total transmission expenses increased $5.7m relative to FY 2018; $2.5m additional costs in order to respond to the large increase in new transmission connections driven by renewable generation and $3.2m additional costs to implement several cost saving initiatives, particularly redundancies. Capital expenditure increased primarily as a result of $33.2m of wind farm connection interface works (2018: $1.9m) as well as an increase in excluded projects. The impact of lower revenues was materially offset by the cost-efficiency program, resulting in an EBITDA decline of 0.8%, versus a revenue decline of 2.5%.

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