Mercury NZ lifts quarterly trading margin by 33%

• Mercury NZ recorded a 33% year-on-year increase in its fourth-quarter trading margin to NZ$390 million.
• Following the update, Mercury's share price rose 3.67% to $5.65.
• Growth was driven by higher renewable electricity generation alongside disciplined portfolio execution across new wind and geothermal projects.

Mercury NZ (ASX:MCY) generated NZ$390 million in fourth-quarter trading margin, representing a 33% surge compared to the prior corresponding period.

The NZ$97 million quarterly margin expansion was underpinned by generation volume reaching 2,344 GWh, up 339 GWh from the same period last year.

"Overall, this performance highlights strong operational momentum and disciplined execution against our strategic priorities," said Mercury CEO Stew Hamilton.

Operational milestones included installing all turbines at Kaiwera Downs Stage 2 Wind Farm and securing fast-track consent for the Puke Kapo Hau Wind Farm.

Following the announcement, the Mercury share price was up at $5.65.

The renewable energy provider also committed NZ$75 million towards appraisal drilling across the Ngā Tamariki and Rotokawa geothermal fields to support long-term capacity.

These infrastructure commitments form part of a broader development platform aimed at expanding the company's geothermal capacity beyond 1 TWh.