Creating a new energy future – a bold vision
Contents
Performance snapshot
4
Chair and Group Chief Executive report
6
Chief Financial Officer report
12
Our people and safety
14
Regulated networks
16
Gas trading
20
Metering
21
Our climate and sustainability
22
Our Board
26
Our management team
28
Governance report
30
Entrust, majority shareholder of Vector
39
Joint ventures and investments
40
Operating statistics
41
Financial performance trends
42
Non-GAAP financial information
44
Financials
45
Independent auditor’s report
90
Statutory information
96
Financial calendar and directory
106
About this report This report, dated 23 August 2021, is a review of Vector’s financial and operational performance for the year ended 30 June 2021. The financial statements have been prepared in accordance with appropriate accounting standards and have been independently audited by KPMG. The financial and operational information has been compiled in line with NZX Listing Rules and recommendations for investor reporting. The report has drawn from a wide range of information sources. This includes: our stakeholders, customers, communities, sustainability framework, value drivers, risk register, Board reports, asset management plan, financial statements and our operational reports. Throughout the report, we have focused on what matters most to our stakeholders and our business. Care has been taken to ensure all information in this report is accurate, including internal assurance and verification processes and Board approval. Forward-looking statements in this report are based on best- available information and assumptions regarding Vector’s businesses and performance, the economy and other future conditions, circumstances and results. As with any forecast, forward-looking statements are subject to uncertainty. Vector’s actual results may vary from those expressed or implied in these forward-looking statements.
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