Company’s underlying net profit after tax was $640 million, a decrease of 21%
SYDNEY: AGL Energy Ltd. (AGL) announced a statutory loss of $98 million for the twelve months ending June 30, 2025, a result influenced by significant items totaling $596 million, including an increase in onerous contracts and costs for a retail transformation.
The company’s Underlying Net Profit after tax, which excludes these items, was $640 million, a decrease of 21% from the previous fiscal year. AGL’s CEO, Damien Nicks, attributed the decrease in earnings to lower wholesale electricity prices, customer margin compression, and strategic investments.
For the 2026 fiscal year, AGL projects its Underlying EBITDA to be between $1.92 billion and $2.22 billion, and its Underlying Net Profit after tax to be between $500 million and $700 million. These projections reflect expected improvements in plant availability, customer market earnings, and growth, which are expected to be partially offset by gas margin compression and higher operating costs.
In a move to support its long-term strategy, AGL is restructuring its Integrated Energy business into two new units: Energy Assets and Energy Markets and Development. A new unit, Strategy, Sustainability, and Enterprise Energy Solutions, has also been created to integrate the company’s strategy and decarbonization goals. Three internal executives—Matthew Currie, David Moretto, and Ryan Warburton—will lead these new units, effective September 15, 2025.
In addition to the financial results, AGL announced a fully franked final dividend of 25 cents per share, bringing the total dividend for FY25 to 48 cents per share.
The company’s Climate Transition Action Plan (CTAP) has also been updated, increasing its interim target for new renewable and firming capacity to 6 GW by 2030, including a goal of at least 3 GW of grid-scale batteries. The CTAP will be subject to a non-binding shareholder vote on October 3, 2025.