Business description: Meridian Energy Limited

Meridian Energy Limited is a New Zealand-based company. The Company is engaged in the generation, trading and retailing of electricity and the sale of complementary products and services. Its segments include Wholesale, Retail, and Other and Unallocated. The Wholesale segment includes activity of generation of electricity and its sale into the wholesale electricity market; purchase of electricity, and development of renewable electricity generation opportunities. The Retail segment includes activity of retailing of electricity and complementary products through its two brands: Meridian and Powershop in New Zealand. The electricity is sold to residential, business and industrial customers. The Other and unallocated segment include licensing of the developed electricity and gas retailing platform. It owns and operates approximately seven hydro stations in New Zealand and six wind farms. The Company’s subsidiaries are Flux Federation Limited, Flux-UK Limited, Meridian Limited, and others.

Number of employees: 1,043

Sales by Activity: Meridian Energy Limited

Fiscal Period: June 2021 (NZD) 2022 (NZD) 2023 (NZD) 2024 (NZD) 2025 (NZD)

NZ Wholesale

318.1Cr 282.6Cr 261.8Cr 446.3Cr 452.4Cr

NZ Retail

167.7Cr 183.1Cr 122.4Cr 138.1Cr 145.3Cr

Other and Unallocated

5.5Cr 4.1Cr 2.3Cr 2.3Cr 3.4Cr

Inter-Segment

-95Cr -120.4Cr -107.8Cr -151.6Cr -151.9Cr

Australia

33Cr 21Cr - - -

Geographical breakdown of sales: Meridian Energy Limited

Fiscal Period: June 2021 (NZD) 2022 (NZD) 2023 (NZD) 2024 (NZD) 2025 (NZD)

New Zealand

394.8Cr 369.5Cr 322.2Cr 485.6Cr 483.5Cr

United Kingdom

1.5Cr 80L - - -

Australia

33Cr - - - -

Executive Committee: Meridian Energy Limited

Manager TitleAgeSince
Chief Executive Officer - 30/07/2025
Director of Finance/CFO - 01/09/2025
Chief Tech/Sci/R&D Officer - 31/03/2022
Corporate Officer/Principal - 02/04/2020
Investor Relations Contact - 26/09/2013

Composition of the Board of Directors: Meridian Energy Limited

Director TitleAgeSince
Chairman - 01/10/2019
Director/Board Member - 26/09/2019
Director/Board Member - 01/01/2020
Director/Board Member - 01/08/2021
Director/Board Member 63 26/07/2022
Director/Board Member - 25/07/2023
Director/Board Member - 03/11/2025

Shareholders: Meridian Energy Limited

NameStocks%Valuation
Government of New Zealand
50.43 %
1,33,55,76,835 50.43 % 4 422 M $
Accident Compensation Corp.
1.764 %
4,67,22,927 1.764 % 155 M $
Guardians of New Zealand Superannuation
1.336 %
3,53,86,722 1.336 % 117 M $
ANZ New Zealand Investments Ltd.
0.5639 %
1,49,35,699 0.5639 % 49 M $
Smartshares Ltd.
0.3607 %
95,54,177 0.3607 % 32 M $

Company details: Meridian Energy Limited

Meridian Energy Ltd.

98 Customhouse Quay

6011, Wellington

+64 4 381 1200

http://www.meridianenergy.co.nz
address Meridian Energy Limited(MEL)

Group companies: Meridian Energy Limited

NameCategory and Sector
Miscellaneous Commercial Services

Hydroelectric & Tidal Utilities

Change 5-day change 1-year change 3-year change Capi.($)
+0.18%+0.90%-2.09%+5.93% 869.73Cr
-0.86%+0.63%-2.64%+33.01% 10TCr
+0.20%-4.12%+29.15%+29.65% 2.81TCr
+0.64%+0.47%+21.51%+14.22% 2.2TCr
-3.68%+13.29%+70.71%+106.42% 1.31TCr
-0.19%+5.56%+0.62%+10.31% 1.16TCr
-0.73%+0.83%-7.62%+59.82% 837.65Cr
-0.32%+3.41%+20.17%+11.96% 587.63Cr
+0.75%-.--%-.--%-.--% 440.35Cr
-1.09%+8.92%-9.03%-28.25% 177.54Cr
Average -0.51%+2.10%+12.08%+24.31% 2.08TCr
Weighted average by Cap. -0.60%+0.81%+9.49%+32.05%
Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
5.630NZD
Average target price
6.398NZD
Spread / Average Target
+13.64%

Annual profits - Rate of surprise

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