Vector - Scattered Surprises — 1H24 Result
Vector (VCT) reported a strong 1H24 result, with Adjusted EBITDA of NZ$192m +NZ$10m ahead of our forecast, mainly due to a lift...
325 Views
Equity Strategy - WACC Review; a Lower Rfr and Adding C&ESG
For the first time in three years we are moving our WACC assumptions down. This is driven by a modestly lower (-25 bps) interpolated 10-year...
380 Views
Vector - Connection Surge — 1H24 Operating Statistics
The highlight of Vector's (VCT) 1H24 operating statistics is the strong increase in new electricity connection numbers, ahead of expectations and...
232 Views
Vector - Minor Methodical Modifications — IM Review
The Commerce Commission’s (ComCom) Input Methodology (IM) final decisions are little changed from the draft decisions for electricity and gas...
366 Views
Regulated Companies - The Relevance of RAB Multiples
RAB multiples (enterprise value divided by regulatory asset base) provide a useful means of valuing and sense checking valuations for regulated...
504 Views