Pacific Energy Ltd. reported audited consolidated and parent company earnings results for the year ended June 30, 2018. For the year, on consolidated basis, the company reported profit attributable to equity holders of the company of AUD 6,781,000 or 1.80 cents per basic and diluted share compared to AUD 16,601,000 or 4.48 cents per basic and diluted share a year ago. Revenue was AUD 68,077,000 against AUD 57,176,000 reported last year. Earnings before interest, tax, depreciation and amortization was AUD 31,275,000 against AUD 40,835,000 reported last year. Results from operating activities were AUD 12,465,000 against AUD 25,140,000 reported last year. Profit before income tax was AUD 9,906,000 against AUD 23,504,000 reported last year. Net cash provided by operating activities was AUD 35,921,000 against AUD 35,011,000 reported last year. Purchase of property, plant and equipment was AUD 22,187,000 against AUD 19,581,000 reported last year. Capital expenditure was AUD 23,031,000 against AUD 19,734,000 a year ago. Net debt was AUD 132,242,000 against AUD 46,616,000 a year ago. Underlying EBITDA was AUD 44,105,000 against AUD 40,019,000 a year ago. The strong growth was generated primarily from the full year impact of multi-year power contracts installed in the previous year and expansions of existing contracts. Property, plant and equipment increased by 40% in 2018, largely as a result of consolidating the acquisitions of Contract Power Group and NovaPower into the Company and the capital expenditure investment in new assets and refurbishment of existing assets required to complete and commission 31.5MW of new generation capacity installed by KPS during the year.

For the year, on parent basis, the company reported loss for the period AUD 3,521,000 against profit of AUD 234,000 a year ago.

For the fiscal year 2019, the company expects underlying EBITDA guidance of AUD 54 million to AUD 55 million.