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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Meridian Energy Limited    MEL   NZMELE0002S7

MERIDIAN ENERGY LIMITED

(MEL)
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End-of-day quote. End-of-day quote New Zealand Stock Exchange - 08/10
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Meridian Energy : brings Global EV Expert to New Zealand

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11/25/2018 | 05:06pm EDT

Thanks to Meridian Energy, Drive Electric and EECA; politicians, fleet managers and New Zealand business leaders will meet with Christina Bu this week in Christchurch, Auckland and Wellington. The Secretary General of the Norwegian Electric Vehicle (EV) Association is in New Zealand to share her insights on what New Zealand can learn from Norway's world-leading conversion to electric vehicles.

Ms. Bu is a powerful voice in the EV industry, helping oversee Norway's electric car transition, currently sitting at over 40 percent converted.

'There is massive disruption in the mobility sector,' says Bu. 'Apart from what is happening in Europe, China is fast moving into the electric vehicle market with more than 5.1% market share and advancements in software and AI.'

Sponsored by Drive Electric with Meridian Energy and EECA; Bu will deliver important sustainability and future-proofing fleet insights for the industry, government and New Zealand businesses.

Neal Barclay, Meridian Chief Executive says, 'More than 90% of New Zealand's transport emissions come from road transport, making our transport sector one of the most emissions intensive in the world. Electric transport, combined with our large proportion of renewable energy, provides us with a unique opportunity to significantly reduce our emissions and combat climate change.'

'We're really looking forward to hearing Christina's insights and learn how we can further increase the uptake in EVs and continue to lower our emissions', says Barclay.

Bu arrives in New Zealand directly from Chile, it will be the end of a busy 2018 for Bu, having been keynote speaker and panelist at high profile summits and conferences throughout Europe, the USA and beyond. Her expertise and knowledge in discussing EV industry challenges and opportunities is in fierce demand all around the world.

Despite an ever-growing charging infrastructure network, New Zealand's rate of fossil fuel to electric conversion will have to grow dramatically to meet the national target of 64,000 EVs on the road by 2021.

ENDS

Meridian Media Team

Media.Team@meridianenergy.co.nz

0800 948 843

Disclaimer

Meridian Energy Limited published this content on 26 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 November 2018 22:05:09 UTC

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Financials
Sales 2020 3 179 M 2 094 M 2 094 M
Net income 2020 329 M 217 M 217 M
Net Debt 2020 1 513 M 996 M 996 M
P/E ratio 2020 37,1x
Yield 2020 4,31%
Capitalization 12 352 M 8 143 M 8 136 M
EV / Sales 2020 4,36x
EV / Sales 2021 4,69x
Nbr of Employees 1 001
Free-Float 48,9%
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Mean consensus HOLD
Number of Analysts 6
Average target price 4,62 NZD
Last Close Price 4,82 NZD
Spread / Highest target 7,26%
Spread / Average Target -4,18%
Spread / Lowest Target -23,2%
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Managers
NameTitle
Neal Barclay Chief Executive Officer
Mark John Verbiest Chairman
Michael John Roan Chief Financial Officer
Peter David Wilson Deputy Chairman
Anake Angus Murray Goodall Independent Non-Executive Director