Contact Energy Limited (CEN) has announced its financial results for the 12 months ending 30 June 2026, reporting a substantial increase in net profit. The New Zealand-based company, which operates as one of the nation’s leading energy generators and retailers, providing electricity, gas, broadband, and mobile plans, recorded a total net profit of NZD$423.4 million, marking a 27.8% rise from the previous period. Total revenue from continuing operations stood at NZD$3.24 billion, a 5.7% decrease. Shareholders are set to receive a final dividend of NZD$0.24 per quoted equity security, payable on 23 September 2026, with a record date of 18 August 2026. Net tangible assets per security also rose to NZD$4.12 from NZD$2.87, attributed primarily to the acquisition of Manawa Energy Limited.
The reporting period saw significant strategic advancements in Contact Energy’s renewable energy portfolio. The company completed its NZD$2.6 billion acquisition of Manawa Energy in July 2025, adding 25 hydro sites and enhancing its generation capacity and resilience. Further solidifying its decarbonisation efforts, Contact commissioned the Glenbrook Ohurua Battery 1 and commenced construction on a second, larger Glenbrook battery. The company also progressed the Kōwhai Park solar farm in a joint venture with Lightsource bp and the Te Mihi Stage 2 geothermal station, alongside initiating a NZD$30 million drilling program for its Tauhara 2 geothermal option.
Contact Energy’s commitment to a cleaner energy future was underscored by reaching 98% renewable generation during FY26, a notable increase from 81% in 2021. This was supported by the closure of the Taranaki Combined Cycle (TCC) plant in January 2026, its last baseload gas facility, which is expected to reduce Scope 1 and 2 carbon emissions by an average of 41%. The company remains committed to achieving net-zero Scope 1 and 2 emissions from its generation operations by 2035, with its Climate Statement 2026 detailing strategy, risks, and opportunities in line with Aotearoa New Zealand Climate Standards.
