Note 5: Segment Information
As at 31 March 2014, the Group is organised into two main business segments:
- development, ownership and operation of electricity generation facilities from renewable energy sources including the trading of energy with Retail and external parties (“Generation”)
- purchase of energy from Generation and retail sale of electricity, gas and telecommunications services to customers (“Retail”)
The remaining activities of the Group are included in Other. This primarily relates to property services and some unallocated head office functions.
The Board has further segregated Generation into New Zealand and Australian operations. Generation New Zealand includes the metering business which does not meet the criteria to be disclosed as a separate operating segment. Retail operates only in New Zealand.
The segment results for the year ended 31 March 2014 are as follows:
|
|
Generation
New Zealand
$000
|
Generation
Australia
$000
|
Retail
$000
|
Other
$000
|
Total
$000
|
|
|
|
|
|
|
|
Total segment revenue
|
242,015
|
51,404
|
714,313
|
2,277
|
1,010,009
|
|
Inter-segment revenue
|
(196,715)
|
-
|
-
|
(1,595)
|
(198,310)
|
|
Revenue from external customers
|
45,300
|
51,404
|
714,313
|
682
|
811,699
|
|
|
|
|
|
|
|
EBITDAF
|
196,817
|
32,336
|
50,274
|
(2,021)
|
277,406
|
|
|
|
|
|
|
|
Amortisation of intangible assets
|
-
|
-
|
3,995
|
6,624
|
10,619
|
|
Depreciation
|
41,798
|
16,674
|
-
|
2,922
|
61,394
|
|
Capital expenditure
|
19,890
|
295,887
|
14,897
|
19,065
|
349,739
|
|
Asset impairment
|
226
|
-
|
-
|
-
|
226
|
|
|
|
|
|
|
|
The segment results for the year ended 31 March 2013 are as follows:
|
|
|
|
|
|
|
|
Total segment revenue
|
252,382
|
37,817
|
722,845
|
2,772
|
1,015,816
|
|
Inter-segment revenue
|
(208,179)
|
-
|
-
|
(2,133)
|
(210,312)
|
|
Revenue from external customers
|
44,203
|
37,817
|
722,845
|
639
|
805,504
|
|
|
|
|
|
|
|
EBITDAF
|
222,387
|
23,188
|
51,852
|
(2,671)
|
294,756
|
|
|
|
|
|
|
|
Amortisation of intangible assets
|
-
|
-
|
3,063
|
4,867
|
7,930
|
|
Depreciation
|
40,651
|
15,182
|
-
|
2,224
|
58,057
|
|
Capital expenditure
|
26,971
|
166,461
|
-
|
13,647
|
207,079
|
|
Asset impairment
|
-
|
-
|
-
|
-
|
-
|
|
|
|
|
|
|
Inter-segment transactions are entered into under normal commercial terms and conditions that would also be available to unrelated third parties. The Board does not distinguish between revenue from internal or external customers when measuring the performance of segments. All revenue is reported to the Board on a basis consistent with that used in the income statement.
Interest income and expenditure and taxation costs are not allocated to segments as these activities are managed at a Group level by a central treasury function.
The Board does not segregate assets and liabilities in assessing Group performance.
Capital expenditure comprises additions to property, plant and equipment and intangible assets