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Mercury STOCK EXCHANGE LISTINGS : NZX ( MCY ) / ASX ( MCY ) NEWS RELEASE Mercury's earnings up , generation down FY2021 Interim Results Financial Summary HY21 HY20 Change % UNDERLYING EARNINGS AFTER TAX ( $ M ) EBITDAF ( $ M ) NET PROFIT AFTER TAX ( $ M ) STAY - IN - BUSINESS CAPITAL EXPENDITURE ( $ M ) ELECTRICITY GENERATION ( GWh ) 294 258 + 14 % 130 83 + 57 % 115 90 + 28 % 27 53 -49 % 3,320 3,428 -3 % INTERIM FULLY IMPUTED ORDINARY DIVIDEND ( CENTS PER SHARE ) 6.8 6.4 + 6 % - TO BE PAID ON 1 APRIL 23 February 2021 - Mercury results for the half year ended 31 December 2020 showed lifts across all key financial measures due to careful management of generation and retail portfolios , astute contract trading and ongoing cost control . This was achieved despite lower hydro generation . Chief Executive Vince Hawksworth said Mercury had demonstrated resilience faced with ongoing COVID - 19 uncertainty , sustained elevated wholesale and futures price for electricity and a highly competitive environment . With such conditions forecast to continue , Mercury is pressing forward with changes to deliver ongoing success . Mercury recently announced an executive restructure , which was implemented on 2 February . " We are undertaking process and operational changes aimed at enhancing efficiency and effectiveness and are reviewing both our long- term asset management plans and our customer strategy to ensure they are fit and flexible enough for such a dynamic environment , ” Mr Hawksworth said . " Guiding our evolution is our desire to balance the internationally recognised energy trilemma of ensuring that we achieve our sustainability goals , keep the lights on for New Zealanders and do this all at the least - cost for consumers . " FINANCIAL SUMMARY Mercury's earnings ( EBITDAF¹ ) were $ 294 million , up $ 36 million on the prior comparable period . Higher energy margin associated with generation and customer portfolio decisions , additional trading profits and cost control , but partially offset by 108 GWh lower overall generation , explain most of the earnings uplift . Net profit after tax ( NPAT ) was up $ 47 million to $ 130 million due mostly to higher EBITDAF and Mercury's gain on sale recognised from the sale of our interest in Hudson Ranch 1 and its geothermal power station in California receiving net proceeds of approximately $ 40m . Operational expenditure of $ 87 million was down $ 7 million on the prior comparable period . The Mercury Building , 33 Broadway , Newmarket 1023 PO Box 90399 , Auckland 1142 New Zealand PHONE : +64 9 308 8200 mercury.co.nz FAX : +64 9 308 8209