Investor Presentaiton
2021 FINANCIAL SNAPSHOT
Cash break even at the Fee Floor
FY20
FY21
Change
Revenue - Refinery1
NZ$M
189.9
186.0
3.9▼
2%
Revenue - Infrastructure1
NZ$M
41.0
42.5
1.5A 4%
EBITDA
NZ$M
50.4
72.8
22.4A
44%
Capital Expenditure²
NZ$M
33.4
34.0
nm
Free cash flow³
NZ$M
11.0
3.2
7.8▼ 71%
Net Profit/(Loss) after tax
NZ$M
(198.3) (552.6)
(354.3) ▼
nm
Net Debt4
NZ$M
231.3
183.6
47.7 ▼
21%
2.
123
For further information, please refer to our FY21 Financial Statements, available at http://www.refiningnz.com/investor-centre.aspx
Payments for property, plant and equipment (cashflow basis)
For a full definition please refer to the Glossary on slide 25
REFINING NZ
2021 ANNUAL RESULTS
PRESENTATION
Lower Refinery revenue reflects lower gas usage,
no wage subsidy in 2021 and lower carbon unit
sales
Improved EBITDA reflects the benefits of the
refinery simplification and settlement gains from
"cash out" of legacy balance sheet items (refer
next page)
Net loss after tax includes impairment of refining
assets and recognition of conversion related
provisions
Net debt c.$47 million lower than FY20, primarily
reflects the proceeds of the equity raise to fund
Private Storage
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