Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
SHARE OF EQUITY PROFITS TO NPAT
Spark
100% Basis $m
Victoria Power
Networks
SA Power
Networks
TransGrid
Infrastructure
Share
Regulated revenue
Other revenue
Total Income
Operating costs
EBITDA
Depreciation and amortisation
981.1
849.2
751.1
1,009.6
419.5
389.2
122.9
414.7
1,400.6
1,238.4
873.9
1,424.3
(517.7)
(570.3)
(227.3)
(567.2)
882.9
668.1
646.7
857.1
(325.0)
(325.6)
(348.4)
(371.1)
Net interest expense (excl subordinated debt)
Subordinated debt interest expense
(165.6)
(137.2)
(220.3)
(181.5)
(102.3)
(72.7)
(62.0)
(95.0)
Net Profit before Tax
Tax expense
290.1
132.6
16.0
209.5
(91.0)
(3.5)
(46.3)
Net Profit after Tax
199.1
129.1
16.0
163.2
Less: additional share of profit from preferred partnership capital (PPC) (1)
(69.8)
(34.2)
Net Profit for Equity Accounting
199.1
59.2
16.0
129.0
Spark Infrastructure Share
97.6
29.0
2.4
129.0
Add: additional share of profit from PPC (1)
69.8
69.8
Less: additional adjustments made to share of equity accounted profits (2)
4.0
1.5
1.3
6.9
Share of Equity Accounted Profits
101.6
100.4
3.7
205.7
Add: interest income from associates
50.1
9.3
59.4
Total Income from Associates
Interest income - other
Interest expense - Loan Notes
Revenue from sale of Electricity and LGCs
Unrealised gains from derivative instruments
General and administrative expenses
Profit before Income Tax
Income tax expense
151.7
100.4
13.0
265.1
0.7
Interest expense (including borrowing costs)
(3.9)
(120.5)
7.0
35.7
(24.4)
159.8
(54.8)
Net Profit after Income Tax Attributable to Securityholders
(1) Under the partnership agreement, Spark Infrastructure is entitled to an additional share of profit in SA Power Networks
(2) Includes adjustments made to distribution/transmission revenues to defer/accrue for amounts in excess of/under the regulated revenue cap to reflect
that these amounts will be returned to/recovered from electricity consumers in future periods via adjustments to tariffs
Spark Infrastructure I Investor Presentation | February 2021
105.0
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