The company said this reflected the first full year of the Commerce Commission\u2019s electricity distribution pricing reset, which took effect nationally on April 1, 2025.<\/p>\n
The company declared a final dividend of 13.5c per share, taking the full-year dividend to 26c per share.<\/p>\n
Vector group chief executive Chris Blenkiron said the business was performing well.<\/p>\n
\u201cThis year we\u2019ve focused on disciplined execution across our key deliverables of customer outcomes, safety, and operational and financial performance,\u201d Blenkiron said.<\/p>\n
\u201cThat\u2019s resulted in a set of strong financial results and leaves us well positioned to continue delivering the services and infrastructure our customers rely on.\u201d<\/p>\n
Chris Blenkiron, group chief executive of Vector, said demand for energy continued to evolve as Auckland expands. <\/p>\n
By segment, electricity revenue excluding capital contributions lifted 18% to $905m.<\/p>\n
Electricity capital contributions fell 7% to $183m, with adjusted ebitda lifting 25% to $440m.<\/p>\n
Total connections to the network lifted 1.6% to 642,134.<\/p>\n
Gas revenue excluding capital contributions lifted 2% from $67m to $69m, with gas capital contributions declining 43% to $8m.<\/p>\n
During the financial year, Vector invested a record $512m in Auckland\u2019s electricity network and announced a dynamic 10kW solar export limit to help more solar owners maximise their investment.<\/p>\n
Adjusted ebitda for gas was flat year on year at $47m, with total connections falling 0.5% to 119,991.<\/p>\n
During the financial year, Vector invested a record $512m in Auckland\u2019s electricity network and announced a dynamic 10kW solar export limit to help more solar owners maximise their investment.<\/p>\n
The company also connected 13,017 new homes and businesses to the electricity network.<\/p>\n
Blenkiron said demand continued to evolve as the city expands, with electric vehicles, solar and other technologies reshaping how existing customers use energy.<\/p>\n
\u201cWe will build on this momentum by investing at record levels again next year to expand capacity, strengthen resilience and help customers benefit from an increasingly electrified future.<\/p>\n
\u201cAs we continue investing, we will also keep our focus on ensuring customer prices are as low as possible. We are carefully prioritising investment, improving how we plan and operate the network, and using new technologies to get more from existing infrastructure.\u201d<\/p>\n
Vector also provided guidance for the financial year to June 30, 2027, with high investment expected in Auckland\u2019s electricity network.<\/p>\n
The company expects adjusted ebitda to be $540m to $560m, gross capital expenditure to be $605m to $635m, and total capital contributions between $160m and $190m.<\/p>\n
\u201cWe enter the new financial year with a strong business and clear priorities. <\/p>\n
\u201cWe will continue listening to our customers and delivering the reliable, resilient and future-ready network Auckland\u2019s communities need.\u201d <\/p>\n
Vector\u2019s majority shareholder is Entrust, with 75.1%.<\/p>\n
Entrust, formerly the Auckland Energy Consumer Trust, represents the interests of 368,000 households and businesses in central, east and south Auckland.<\/p>\n