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MarketScreener Homepage  >  Equities  >  NEW ZEALAND STOCK EXCHANGE  >  New Zealand Refining Company Ltd    NZR   NZNZRE0001S9

NEW ZEALAND REFINING COMPANY LTD

(NZR)
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New Zealand Refining : RAP Update - 11th December 2017

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12/10/2017 | 03:58pm EST

11 December 2017

Announcement to NZX

Refinery to Auckland Pipeline

Yesterday, there was a report of a possible leak on the Refinery to Auckland Pipeline, which resulted in a temporary shutdown of the line while investigations were carried out.

It has been confirmed that this was a false alarm. The pipeline has been restarted and is operational.

Based on reports from industry experts Quest Integrity and Worley Parsons which confirm that the September 2017 incident resulted from physical damage to the pipeline caused by an as yet unknown third party using a mechanical excavator or 'digger', the certifying pipeline authority recently approved increasing the pressure of the pipeline from 69 to 75 bar (87 bar prior to the incident).

We are pleased to report that this pressure increase, together with early completion of the second phase of the pipeline capacity upgrade project (an extra pump at the Kumeu pump station), means that the pipeline is now running higher throughputs than prior to the September 2017 incident. We are hopeful that the higher throughput will assist our customers establishing robust stock levels at Wiri.

Further information: Greg McNeill

Communications and External Affairs Manager

T: 094325115; M: 021 873623; E: greg.mcneill@refiningnz.com

Refining NZ

Port Marsden Highway, Ruakaka, Northland 0171, Private Bag 9024, Whangarei 0148, New Zealand Telephone: +64 9 432 5100 Email:corporate@refiningnz.comwww.refiningnz.com

The New Zealand Refining Company Limited published this content on 11 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 December 2017 20:57:07 UTC.

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Financials (NZD)
Sales 2019 364 M
EBIT 2019 32,2 M
Net income 2019 17,6 M
Debt 2019 238 M
Yield 2019 4,84%
P/E ratio 2019 33,7x
P/E ratio 2020 8,96x
EV / Sales2019 2,28x
EV / Sales2020 2,17x
Capitalization 593 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 2,17  NZD
Last Close Price 1,90  NZD
Spread / Highest target 37,4%
Spread / Average Target 14,2%
Spread / Lowest Target 0,00%
EPS Revisions
Managers
NameTitle
Michael Fuge Chief Executive Officer
Simon Christopher Allen Chairman
Denise M. Jensen Chief Financial Officer & Secretary
Robin Baxter Engineering Manager
Vanessa Cynthia May Stoddart Independent Director