Infratil Limited Analysis

Overview

Infratil owns renewable energy, transport, data and connectivity, and social infrastructure businesses in growth sectors

Performance

The following information was extracted from Infratil Limited's half year results, released on 13 November 2025:

Earnings lift as Infratil refines its portfolio for growth

• Proportionate operational EBITDAF up 7% from HY25 to $514 million

• Proportionate capital expenditure down $52 million from HY25 to $1,139 million

• Net parent surplus of $606 million reflecting CDC asset valuation increases and Manawa Energy sale

• Sale of Fortysouth and Infratil Property investments announced for combined $250m+

• EBITDAF guidance updated to reflect portfolio divestments

• Dividend of 7.25cps consistent with HY25

Infratil delivered a step-up in earnings for the six months ended 30 September 2025 and announced the divestment of Fortysouth and its legacy property assets as it refines its portfolio for further growth.

The geographic and sector diversity of Infratil’s portfolio saw Proportionate Operational EBITDAF [1] grow to $514 million in the six-month period to 30 September. This was up 7% from the prior HY25 period, largely driven by Longroad Energy in the United States and CDC in Australasia. Proportionate Capital Expenditure was down $52 million, to $1,139 million, when comparing HY26 and HY25.

Jason Boyes, Infratil Chief Executive, said the infrastructure investor has successfully navigated through the noise of the market and regulatory challenges that faced its digital and renewables businesses in early 2025.