Unison’s Declares Solid Performance
Unison has again delivered a strong performance for its customers, achieving network performance well below regulatory limits, and reporting an increased dividend pay-out to its beneficial owner, the Hawke’s Bay Power Consumers’ Trust.
Unison Chairman, Kevin Atkinson has reported the consumer-owned Company achieved a major milestone in the 2014/15 financial year, completing the implementation phase of its vision to establish a Smart Network across its three regions of Hawke’s Bay, Taupo and Rotorua.
“The Smart Network utilises some of the most advanced technology in the globe, integrated to create an innovative solution that anticipates our future environment. Completing the implementation phase positions the Company to deliver cost savings and enhanced performance to its 110,000 customers.”
Mr Atkinson said Unison’s continued commitment to its customers had also delivered pleasing results for its subsidiaries.
“Our subsidiary companies have each performed strongly off of the back of positive customer relationships.
“Our distribution transformer manufacturing subsidiary, ETEL, has achieved strong sales during the last financial year, while UnisonFibre has now almost doubled the number of customers enjoying the benefits of ultra-fast fibre during the 2014/15 year, with positive signs for steady growth into the future.
“Unison Contracting Services delivered a record year in terms of completing the capital and customer work programme, whilst helping maintain the performance of our network.”
Hawke’s Bay Power Consumers’ Trust Chairman, John Newland, said the Company’s performance exceeded the targets set by the Trust.
“Each year, the Trust sets network performance and financial targets for Unison, and we are pleased to see those targets being met or exceeded. Unison continues to operate a sustainable business, offering customers a secure, quality level of electricity supply, whilst remaining focused on achieving cost efficiencies.”
Unison Chief Executive Officer, Ken Sutherland, said that in addition to the roll out of its Smart Network strategy, Unison had continued to focus on better understanding future technologies that will impact how its consumers use electricity.
“Far from fearing a future where technologies such as solar generation disrupt our conventional business model, Unison is seeking to embrace the challenge of transitioning to a world where customers have much greater options to meet their energy needs.
“Unison’s ongoing trials of solar and battery storage solutions within a small housing development in Hastings will help inform network design and investment strategies, as well as position us to help customers understand the technology and make informed decisions when it comes to energy services.”
$210.5m Total Group Revenue
$27.5m Net Profit After Tax
$49.5m Capital Expenditure
49% Equity/Total Assets
$9.550m Dividend declared