change comes

Annual Report 2021

Snapshot 2021



Finalists Customer Contact Network New Zealand Awards. National Finalist for the New Zealand Workplace Safety Awards.

More Than
Final Dividend

Chair and Chief Executive Report

Paul 1
David Prentice

After a very challenging 2020, Trustpower recorded a positive result last year with an EBITDAF of $200.2 million up 7.3% on prior year.

Both our generation and retail divisions contributed to our positive result. We delivered on planned maintenance and asset investment activity across our generation fleet and we saw an increase in our retail customers, due to the continued development of our retail strategy and customer offerings.

How We Create Value

Our Six Capitals

At Trustpower, we focus on value creation both now and in the long term.

Many efforts come together to achieve our overall results and in this next section we share an introduction to our key areas of value creation, providing a fuller picture of long-term value and performance.

Our Approach
to Sustainability

Climate change is happening.

In 2020, the government flagged an intent to make climate-related disclosures mandatory for publicly listed companies by 2023 - Taskforce on Climate-Related Financial Disclosures (TCFD). With respect to our climate risk profile, this year we are voluntarily reporting on around 70 per cent of the TCFD Framework, with the intention to build on this year on year.

Risk & Opportunity

The world around us is continuously throwing curve balls, offering us new challenges and opportunities.

To remain successful, we must continually adapt to manage our risks and take advantage of our opportunities.

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The Directors are pleased to present the financial statements of Trustpower Limited and subsidiaries for the year ended 31 March 2021.

The Directors are responsible for ensuring that the financial statements give a true and fair view of the financial position of the Group as at 31 March 2021 and the financial performance and cash flows for the year ended on that date.

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