Contact Energy Limited (COENF) Q2 2026 Earnings Call Transcript

SA Transcripts158.41K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Contact Energy Limited (COENF) Q2 2026 Earnings Call February 15, 2026 5:00 PM EST Company Participants Michael Fuge - Chief Executive OfficerMatthew Forbes - Chief Financial OfficerShelley Hollingsworth - Acting Head of Corporate Finance & Investor Relations and Strategy Manager Conference Call Participants Andrew Harvey-Green - Forsyth Barr Group Ltd., Research DivisionVignesh Nair - UBS Investment Bank, Research DivisionGrant Swanepoel - Jarden Limited, Research DivisionJoshua Dale - Craigs Investment Partners Limited, Research DivisionStephen Hudson - Macquarie Research Presentation Michael FugeChief Executive Officer [Foreign Language] Hello and welcome to Contact's Interim Results presentation for FY '26. We're going to start by reflecting on highlights from the first half and we'll take you through the financial results. We'll then move onto a separate presentation on the $525 million equity raise announced this morning. And then we'll open for question and answers when both presentations have been made. We won't stop at the end of the results section. Turn to Page 4. First half of FY '26 was transformational for Contact. We completed the Manawa acquisition on the 11th of July 2025, welcoming the Manawa staff and assets to the fold. Integration has since progressed very well and we've secured more than 80% of the announced cost synergies in the first 6 months of ownership, that is on a run rate basis. Manawa hydro and renewable PPAs increased our renewable generation in the first half by 1.3 terawatt hours. And we generated 0.2 terawatt hours through our new Te Huka 3 geothermal power station. What that meant is that generation was 97% renewable in the first half '26, up from 89% in first half 2025. EBITDAF was also up 24% to $500 million as a result of the Manawa acquisition and our renewable investments. Profit was up 44% and the Board declared a dividend of $0.16