Unison declares $17.8 million dividend for Hawke’s Bay power consumers
Unison Group has released it's Annual Report for 2024/25.
The Unison Group has released its Annual Report for 2024/25, highlighting a year of strategic progress, strong network performance and a productive year for the group.
Unison is also pleased to declare a dividend of $17.8 million (up from $17.3 million last year)to the Hawke’s Bay Power Consumers’ Trust — the shareholder on behalf of more than 65,000 electricity consumers in the region.
Group profit after tax for the year was $30.3 million, up from $28.7 million the previous year, due in part to insurance proceeds related to Cyclone Gabrielle.
“This year’s result reflects our commitment to delivering for our customers while investing for the future,” said Rob Wheater, Chair of the Unison Group Board.
“The Board is pleased to declare an increased dividend on behalf of our Hawke’s Bay consumers, and proud of the progress Unison has made in navigating a dynamic economic environment while continuing to invest in the region’s energy future.”
Unison’s regulated lines business generated revenue of $147.8 million, achieved excellent levels of network performance, and delivered a record programme of work in 2024/25. The focus remained on maintaining resilience, keeping pace with growth, and supporting a sustainable energy future.
Several critical infrastructure projects were delivered or advanced during the year, including the rebuild of Camberley Substation, completion of the Tauhara Substation and Te Huka switching station, and targeted upgrades to the Taupō network. Capital expenditure totalled $90.7 million, reflecting carefully timed, need-based investment aligned with customer and community requirements.
Customer-driven growth remained strong, with capital contributions of $18.8 million, up $4.1 million on the previous year.
“Our investment decisions are guided by what matters most — delivering a safe, reliable network for our customers today, while preparing for the future,” said Jaun Park, Unison Group Chief Executive.
“We’re focused on building resilience and ensuring the network can adapt as customer needs and technologies evolve. I’m proud of the work our teams have delivered to maintain high network performance and resilience across our regions.”
Unison Group earnings before interest, tax, depreciation, amortisation and fair value movements of derivative financial instruments (EBITDAF) for the year ending 31 March 2025 were $108.3 million, slightly down on the prior year’s result of $110.1 million (excluding UnisonFibre).
The Group's products and services divisions demonstrated mixed results. Unison Contracting Services Ltd (UCSL) and PBA Ltd, both within the service segment, delivered robust performance and secured new contracts that are expected to support future growth. In contrast, transformer manufacturer ETEL Ltd experienced a reduction in sales attributed to ongoing economic challenges following a record earnings period last year.
Across the Group, work continues to ensure Unison’s businesses are best placed to take advantage of the opportunities presented by the electrification of various industries worldwide.
In 2025, Unison also published its first Group Sustainability Report, outlining its baseline and roadmap across emissions reduction, community impact, and operational resilience. This sits alongside the Group’s broader strategic focus on aligning its people, businesses, and capabilities to deliver long-term value for customers and communities.
“We’ve made strong progress in uniting our businesses under a shared, customer-focused strategy that strongly positions us to deliver on our vision to lead a sustainable energy future,” said Park.
“This approach ensures we continue delivering specialist energy solutions while strengthening the Group’s overall capability. Guided by our Board and supported by our shareholder, we’re confident in the foundation we’re building for the future.”
Looking ahead, Unison remains cautiously optimistic about the long-term outlook, supported by the growing need to decarbonise the economies of New Zealand and Australia and the essential role electricity networks will play in enabling that transition.
To read Unison’s full 2024/25 Annual Report, visit: www.unison.co.nz/tell-me-about/unison-group/publications-disclosures/annual-reports