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CS Energy publishes 2019 Annual Report

29 Sep 2019

CS Energy’s FY2019 Annual Report is now available after being tabled in Queensland State Parliament on Friday, 27 September.

In FY2019, CS Energy achieved a high level of financial, environmental and operational performance, and refreshed our strategy to ensure the business remains commercially sustainable into the future.

Our FY2019 highlights

  • Our safest year on record, with a 31.8 All Injury Frequency Rate and 3.35 Total Case Recordable Frequency Rate.
  • 14,524 gigawatt hours of electricity dispatched into the National Electricity Market (NEM) – 223 GWh increase.
  • $479.6 million Underlying EBITDA – a $38.2 million increase.
  • $165.2 million dividend - $40 million increase.
  • 97,855 new customers connected to our retail joint venture with Alinta Energy in SEQ – more than 190,000 customers in total.

In the report, Chairman Jim Soorley said the key drivers of CS Energy’s positive financial results were the improved performance of its thermal power stations, sustained strong market conditions and a focus on cost management.

“Our thermal power stations increased their availability and output in FY2019, providing reliable electricity for Queensland and underpinning security of supply in the NEM as Australia’s generation mix shifted rapidly,” Mr Soorley said.

“While our Net Profit After Tax decreased by $70.6 million to $160.3 million due to a range of accounting adjustments, our strong financial performance enabled us to continue to pay down debt. 

“In FY2019 CS Energy repaid $85.4 million in debt to the Queensland Treasury Corporation, following a repayment of $169 million in the year before.”

CS Energy also achieved positive results for our employees and the community including:

  • maintaining our gender pay parity
  • expanding our paid parental leave scheme to include superannuation
  • introducing a new engineering scholarships program in Chinchilla and Biloela, and
  • reinvigorating our community sponsorships program.

Download the 2019 Annual Report (PDF 4.6MB).