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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