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contact NZX RELEASE NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES 15 February 2021 : Contact Energy FY21 Interim Result Contact to build Tauhara geothermal power station ; will raise $ 400m in equity . Key metrics Six months ended Six months ended 31 December 2020 31 December 2019 EBITDAF1 $ 246m ↑ 11 % from $ 221m Profit $ 78m ↑ 32 % from $ 59m Interim dividend per share 14.0 cps 13 % from 16.0 cps Operating free cash flow² $ 157m ↑ 31 % from $ 120m Operating free cash flow per share Stay - in - business capital expenditure 21.9 cps ↑ 30 % from 16.8 cps $ 31m ↑ 15 % from $ 27m Highlights Strong financial performance despite uncertainty of gas availability and the near - term future of major energy users . Result underpinned by active channel management to capture higher wholesale prices , strong asset availability , and disciplined approach to managing commodity risks . Several major geothermal outages completed safely , on time and under budget . $ 580m further investment approved to develop a new 152MW geothermal power station at Tauhara , near Taupō . $ 400m equity raise announced to support a capital investment programme , including the Tauhara Project . Strategic review of thermal assets under way over the next few months . Revised dividend policy to distribute ordinary dividends targeting a pay - out ratio of between 80-100 % of the average operating free cash flow of the preceding four financial years . Interim cash dividend of 14 cents per share will be paid on 30 March 2021 . New director Rukumoana Schaafhausen will join the Contact Board on 1 March 2021 . Current director Whaimutu Dewes retires from the Board on 31 March 2021 . 1 Refer to slide 36 of the 2021 interim results presentation for a definition and reconciliation between statutory profit and the non - GAAP profit measures earnings before net interest expense , tax , depreciation , amortisation , change in fair value of financial instruments ( EBITDAF ) 2 Refer to note A3 of the 2021 interim financial statements for a definition and reconciliation between cash flow from operating activities and the non - GAAP measure operating free cash flow . Operating free cash flow represents cash available to repay debt , to fund distributions to shareholders and growth capital expenditure . contactenergy.co.nz