Transpower New Zealand Limited

Overview

Transpower New Zealand Limited are a State Owned Enterprise, tasked with owning and operating New Zealand's National Grid - the network of high voltage transmission lines and substations that connect areas of generation with towns and cities across the country.

TRP issued Fixed Rated Bonds on the NZDX on 30 November 2011. The Bonds are set to mature on 30 November 2018.

Performance

The following information was extracted from Transpower New Zealand Limited's half year results, released 27 February 2026:

• Operating revenue increased by 16.2% to $553 million (2024: $476 million)

• Operating expenses increased by 15.6% to $222 million (2024: $192 million)

• Net profit after tax was $74 million

• Capital expenditure was $281million

• Transpower’s Board has declared an interim dividend of $20 million.

Transpower Chair Michele Embling said the Board is pleased with the results for the first half of the 2026 financial year, which are in line with expectations.

“The company has continued to deliver a stable performance and is on track to meet all the targets set out in the Statement of Corporate Intent for this financial year.

“This half-year period is the first full six-months where Transpower has operated under Regulatory Control Period 4 (RCP4), which includes a significant programme of investment as we replace and refurbish parts of the national grid that were built 50-70 years ago and enable economic growth,” she said.