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GLOSSARY
Mercury presents certain non-GAAP (Generally Accepted Accounting Practice) financial information throughout the annual report. This is provided where we believe it will provide greater clarity to users of the information. It also provides consistency across reporting periods and comparability amongst industry peers.
Brand Strength
This measures a brand’s equity and perception in the market based on a monthly survey. It is a constructed score derived from 5 pillars that are weighted to reflect their impact on overall Brand Strength. It is reported on a 3-month rolling average and reflects Mercury’s Brand Strength amongst customers and non-customers.
CO2E
Carbon dioxide equivalents (a measure of total greenhouse gases).
Churn
Rolling average of Mercury Brand customers that change energy providers.
CPS
Cents per share.
EBITDAF (or Operating Earnings)
Earnings before net interest expense, tax expense, depreciation, amortisation, change in the fair value of financial instruments, gain/(loss) on disposal and impairments.
Energy Margin
Sales from electricity generation and sales to customers and derivatives, less energy costs, line charges, other direct costs of sales, and third-party metering.
Free Cash Flow
Net cash flow from operating activities less stay-in business capital expenditure.
Generation-weighted Average Price (GWAP)
Generation Weighted Average Price of electricity generated and sold to the wholesale electricity market.
Growth Capital Expenditure (CAPEX)
Capital expenditure incurred by the company to create new assets and revenue.
GWh
Gigawatt hour. One gigawatt hour is equal to one million kilowatt hours.
Load-weighted Average Price (LWAP)
Load Weighted Average Price of electricity purchased from the wholesale electricity market.
MWh
Megawatt hour. One megawatt hour is equal to one thousand kilowatt hours.
Net Debt
Total borrowings (both current and non-current) less cash and cash equivalents.
Net Promoter Score (NPS)
This is the difference between the percentage of Promoters (who rate their likelihood to recommend Mercury 9-10 on a scale of 0-10) and Detractors (who rate their likelihood to recommend Mercury 0-6 on a scale of 0-10). Results are reported on a 3-month rolling average. The result reported here is NPS within our target customer segments where we recorded a 2-point increase above target for FY20. In FY20 we changed our reporting to a new survey measuring NPS through a sample of approximately 2000 customers per month.
Operating Costs
Represents employee compensation and benefits, maintenance expenses and other expenses.
Other Income
Earnings of associates and other revenue, less direct costs of other revenue.
Stay-in-Business (SIB) Capital Expenditure (CAPEX)
Capital expenditure incurred by the company to maintain its assets in good working order.
Total Recordable Injury Frequency Rate (TRIFR)
A record of the number of reported medical treatment, restricted work, lost time and serious harm injuries per 200,000 hours, including employees and on-site contractors.
Total Shareholder Return (TSR)
The financial gain or loss resulting from the change in share price plus any dividends paid expressed as a percentage of the initial share price.
Underlying Earnings After Tax
Profit for the year after removing one-off and/or infrequently occurring events (exceeding $10 million of profit before tax, which represents material items), impairments, any change in the fair value of derivative financial instruments and gain on sale, all net of tax expense.
20 YEARS AGO, A DYNAMIC DUO WAS BORN.
In 2001, we became a Five Star Partner of Starship children’s hospital, making us sidekicks to the thousands of brave little superheroes who pass through their doors each year.
As Aotearoa New Zealand’s only dedicated children’s hospital, Starship helps save the lives of Kiwi kids from all over the country. Take the story of the Amazing Avery, who after a serious car accident spent nearly a month in Starship learning how to stand and walk unassisted again.
Thanks to the generous donations of our wonderful customers, we’ve managed to raise more than $13.5 million to help the team at Starship continue to provide Kiwi kids like Avery with the best medical facilities, treatment and care possible!
