Investor Presentaiton
INFRASTRUCTURE FOR THE FUTURE
SHARE OF EQUITY PROFITS TO NPAT
100% Basis $m
Spark
Victoria Power
Networks
SA Power
Networks
TransGrid
Infrastructure
Share
Regulated revenue
Other revenue
Total Income
Operating costs
EBITDA
Depreciation and amortisation
Net interest expense (excl subordinated debt)
Subordinated debt interest expense
Net Profit/(Loss) before Tax
Tax expense
490.4
430.0
367.8
506.2
191.3
197.1
59.2
199.2
681.7
627.0
427.1
705.4
(252.5)
(265.4)
(114.1)
(270.9)
429.2
361.6
313.0
434.5
(161.0)
(155.1)
(168.2)
(180.2)
(82.7)
(72.2)
(108.1)
(92.1)
(50.9)
(36.1)
(33.0)
(47.6)
134.7
98.2
3.7
114.6
(42.0)
(2.2)
(21.7)
Net Profit/(Loss) after Tax
92.7
95.9
3.7
93.0
Less: additional share of profit from preferred partnership capital (PPC) (1)
(34.7)
(17.0)
Net Profit for Equity Accounting
92.7
61.2
3.7
76.0
Spark Infrastructure Share
45.4
30.0
0.6
76.0
Add: additional share of profit from PPC(1)
34.7
34.7
(2)
Less: additional adjustments made to share of equity accounted profits
0.1
0.8
1.1
2.0
Share of Equity Accounted Profits
45.5
65.5
1.7
112.7
-
Add: interest income from associates
Total Income from Associates
Interest income - other
Interest expense (including borrowing costs)
Interest expense
Loan Notes
General and administrative expenses
Unrealised gain on derivatives - PPA
Profit before Income Tax
Income tax expense
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 | August 2020
24.9
4.9
29.9
70.4
65.5
6.6
142.6
0.4
(7.9)
(58.8)
(11.0)
8.1
73.4
(23.7)
49.7
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