TrustPower Limited (TPW) - Financial and Strategic SWOT Analysis Review by GlobalData

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									             TrustPower Limited (TPW) - Financial and Strategic SWOT Analysis
                                          Review
        Reference Code: GDAE3654FSA                                                                                            Publication Date: JUL 2013

          Tauranga Mail Centre, Private Bag
                                                             Phone              +64 7 5744800                   Revenue          805.50 (million NZD)
          12023
          Tauranga, BOP                                      Fax                +64 7 5744825                   Net Profit       123.35 (million NZD)
          3143                                               Website            www.trustpower.co.nz            Employees        481
                                                                                TPW [New Zealand
          New Zealand                                        Exchange                                           Industry         Alternative Energy
                                                                                Exchange Limited]

       Company Overview
       TrustPower Limited (TrustPower) is one of the largest independent power companies in New Zealand. The company undertakes
       the generation, transmission, distribution and sales of electricity. The company's assets produce an average of 2,800 GWh per
       year. It supplies electricity to a number of customers. It also provides telecommunications services throughout New Zealand.
       TrustPower operates 36 hydroelectric stations located throughout New Zealand and two wind farms on the Tararua Ranges. The
       company has 630 MW of hydro and wind generation spread facilities throughout New Zealand and 100 MW Snowtown wind farm
       in South Australia. Trust Power is headquartered in Mount Maunganui, New Zealand.
       Key Executives                                                                SWOT Analysis
                      Name                                 Title                      TrustPower Limited, SWOT Analysis
         Dr. Bruce J Harker                  Chairman                                 Strengths                              Weaknesses
         Michael J Cooney                    Director
                                                                                      Strong Clean Power Generation Debt Obligations
         Marko Bogoievski                    Director                                 Asset Base
                                                                                                                    Deteriorating Profitability Ratios
         Geoff Swier                         Director
                                                                                      Customer Base
         Sam Knowles                         Director
        Source: Annual Report, Company Website, Primary and Secondary
        Research, GlobalData                                                          Opportunities                          Threats

       Share Data                                                                     Government Initiatives                 Highly Competitive
         TrustPower Limited                                                                                                  Environment
                                                                                      Expansions
        Share Price (NZD) as on 01-Jul-                                  7.15                                                Lack of Substantial Grid
        2013                                                                                                                 Infrastructure
        EPS (NZD)                                                        0.39
        Market Cap (million NZD)                                       2,245         Source: Annual Report, Company Website, Primary and Secondary Research,
                                                                                     GlobalData
        Enterprise Value (million NZD)                                 3,157
        Shares Outstanding (million)                                     314
       Source: Annual Report, Company Website, Primary and Secondary
       Research, GlobalData

       Financial Performance                                                         Recent Developments
                                                                                      Oct 26, 2012         TrustPower Provides Update On Construction
                                                                                                           Work At Snowtown 2 Wind Farm Project In
                                                                                                           Australia
                                                                                      Aug 01, 2012         Siemens Receives 270 MW Wind Order For
                                                                                                           Snowtown II Wind Farm In Australia
                                                                                      Jul 26, 2012         TrustPower Provides Update On Financial
                                                                                                           Close Of Snowtown Stage 2 Project In South
                                                                                                           Australia
                                                                                      Jul 02, 2012         TrustPower Provides Update On Snowtown
       Source: Annual Report, Company Website, Primary and Secondary
                                                                                                           Stage 2 Wind Farm Project In South Australia
       Research, GlobalData                                                          Source: Annual Report, Company Website, Primary and Secondary Research,
                                                                                     GlobalData




TrustPower Limited (TPW) - Financial and Strategic SWOT                                                                         Reference Code: GDAE3654FSA
Analysis Review
Source : www.globalcompanyintelligence.com                                                                                                                     Page 1
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       Table of Contents
       Table of Contents ............................................................................................................................................................................... 2
          List of Tables .................................................................................................................................................................................. 4
          List of Figures ................................................................................................................................................................................. 4
       Section 1 - About the Company.......................................................................................................................................................... 5
       TrustPower Limited - Key Facts ......................................................................................................................................................... 5
       TrustPower Limited - Key Employees ................................................................................................................................................ 6
       TrustPower Limited - Key Employee Biographies .............................................................................................................................. 7
       TrustPower Limited - Key Operational Employees ............................................................................................................................. 8
       TrustPower Limited - Major Products and Services ............................................................................................................................ 9
       TrustPower Limited - History ............................................................................................................................................................ 10
       TrustPower Limited - Company Statement ....................................................................................................................................... 11
       TrustPower Limited - Locations And Subsidiaries ............................................................................................................................ 15
          Head Office ................................................................................................................................................................................... 15
          Other Locations & Subsidiaries ..................................................................................................................................................... 15
       Section 2 – Company Analysis ......................................................................................................................................................... 16
       TrustPower Limited - Business Description ...................................................................................................................................... 16
       TrustPower Limited - Corporate Strategy ......................................................................................................................................... 17
       TrustPower Limited - SWOT Analysis .............................................................................................................................................. 18
          SWOT Analysis - Overview........................................................................................................................................................... 18
          TrustPower Limited - Strengths .................................................................................................................................................... 18
             Strength - Strong Clean Power Generation Asset Base ............................................................................................................ 18
             Strength - Customer Base ......................................................................................................................................................... 18
             Strength - Strong Liquidity ......................................................................................................................................................... 18
          TrustPower Limited - Weaknesses ............................................................................................................................................... 18
             Weakness - Debt Obligations .................................................................................................................................................... 18
             Weakness - Deteriorating Profitability Ratios ............................................................................................................................ 19
          TrustPower Limited - Opportunities .............................................................................................................................................. 19
             Opportunity - Government Initiatives ......................................................................................................................................... 19
             Opportunity - Expansions .......................................................................................................................................................... 19
             Opportunity - Electricity Demand: New Zealand........................................................................................................................ 19
          TrustPower Limited - Threats........................................................................................................................................................ 19
             Threat - Highly Competitive Environment .................................................................................................................................. 19
             Threat - Lack of Substantial Grid Infrastructure......................................................................................................................... 20
             Threat - Operational Risk .......................................................................................................................................................... 20
       TrustPower Limited - Key Competitors ............................................................................................................................................. 21
       Section 3 – Company Financial Ratios ............................................................................................................................................. 22
       Financial Ratios - Capital Market Ratios........................................................................................................................................... 22
       Financial Ratios - Annual Ratios ...................................................................................................................................................... 22
       Performance Chart ........................................................................................................................................................................... 24
       Financial Performance...................................................................................................................................................................... 24
       Financial Ratios - Interim Ratios....................................................................................................................................................... 25
       Financial Ratios - Ratio Charts ......................................................................................................................................................... 26
       Section 4 – Company’s Power Financial Deals and Alliances .......................................................................................................... 27
          TrustPower Limited, Power, Deals By Year, 2007 to YTD 2013 ................................................................................................... 27
          TrustPower Limited, Power, Deals By Type, 2007 to YTD 2013................................................................................................... 28


TrustPower Limited (TPW) - Financial and Strategic SWOT                                                                                                          Reference Code: GDAE3654FSA
Analysis Review
Source : www.globalcompanyintelligence.com                                                        
								
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