CANBERA (dpa-AFX) - AGL Energy Ltd. (AGL.AX, AGLNF.PK) reported Wednesday significantly higher profit in fiscal 2026 mainly on one-time gains. Further, underlying EBITDA increased slightly despite weak revenues.
Looking ahead for fiscal 2027, AGL projects underlying net profit between A$470 million and A$670 million, and underlying EBITDA between A$1.90 billion and A$2.20 billion.
In the full year 2026, profit after tax attributable to shareholders surged 575.0 percent to A$756 million from last year's A$112 million. Earnings per share grew 573.1 percent to 112.4 cents from 16.7 cents a year ago.
The latest results mainly included a A$268 million gain from the divestment of Tilt Renewables, a positive movement in the fair value of financial instruments of A$179 million and a A$67 million gain from the revaluation of onerous contracts. These were partly offset by A$227 million charges associated with asset impairments recognised on the generation fleet, among others.
Underlying net profit was A$631 million, down 1.7 percent from A$642 million a year ago. Underlying earnings per share declined 1.9 percent to 93.8 cents from 95.6 cents a year ago.
Underlying EBITDA was A$2.10 billion, up 2 percent from the prior year.
Revenue for the year declined 5.2 percent to A$13.59 billion from A$14.34 billion a year ago.
Further, AGL has declared a final fully franked dividend for fiscal 2026 of 26 cents per share. Total dividend for the year would be 50 cents per share.
The final dividend will be paid on September 24.
The company targets a dividend payout ratio range between 55 - 60 percent of underlying net profit for fiscal 2027, expected to be fully franked.
In Australia, the shares closed Wednesday's regular trading at A$8.72, up 5.95 percent.
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