ERM Power Limited announced audited consolidated earnings results for the year ended June 30, 2018. For the year, the company reported Underlying EBITDAF of AUD 97.5 million compared to AUD 78.2 million a year ago. Underlying NPAT was AUD 30.2 million compared to NLAT of AUD 16.1 million a year ago. Underlying EPS was AUD 12.3 compared to LPS of AUD 6.6 a year ago. Contestable revenue was AUD 2,046.4 million compared to AUD 1,477.8 million a year ago. Statutory NLAT was AUD 80.7 million compared to AUD 1.1 million a year ago. Total revenue was AUD 3,280,583,000 against AUD 2,790,232,000 a year ago. Loss from operating activities was AUD 42,913,000 against profit of AUD 101,925,000 a year ago. Loss before income tax was AUD 66,929,000 against profit of AUD 80,751,000 a year ago. Loss from continuing operations was AUD 46,734,000 against profit of AUD 19,257,000 a year ago. Statutory loss for the year attributable to equity holders of the Company was AUD 80,702,000 or 31.99 cents per diluted share against AUD 1,073,000 or 0.43 cents per diluted share a year ago. Net cash outflow from operating activities was AUD 66,929,000 against net cash inflow from operating activities of AUD 151,692,000 a year ago. Payments for plant and equipment were AUD 3,280,583,000 against AUD 2,790,232,000 a year ago. Payments for intangible assets were AUD 33,273,000 against AUD 24,302,000 a year ago. Net debt as at 30 June 2018 was AUD 95,844,000.

For the year 2019, the company expects Oakey EBITDAF of AUD 14 million to AUD 16 million. Neerabup EBITDAF at about AUD 26 million. Energy Solutions LBITDAF about AUD 2.5 million. Opex will be in line with 2018, and a reduction on 2017 reflecting continued business efficiencies. The company's expectation is that generation earnings will be in line with previous years and slightly below 2018.

The company expects that the business will be at or about NPAT breakeven by fiscal year 2020.