Manawa Energy Revises Earnings Guidance Amid Market Challenges

Manawa Energy Limited (NZX: MNW) has updated its earnings guidance due to a potential bad debt from a defaulting electricity retailer and challenging market conditions. The company has provisioned for this bad debt and terminated its Electricity Supply and Services Agreement with the retailer to mitigate further risk. Additionally, prolonged dry and calm weather has significantly impacted hydroelectricity generation and wind Power Purchase Agreement volumes. As a result, Manawa now expects EBITDAF for the year ending March 31, 2025, to be between NZ$95 million and NZ$115 million, down from the previous forecast of NZ$130 million to NZ$150 million. This revision accounts for lower hydro and wind generation volumes and elevated energy purchase costs.

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