Energy giant AGL Ltd. has posted a statutory net profit after tax of AU$756 million for the 2026 fiscal year, up AU$644 million from the prior year, supported by asset sales and improved operational reliability across its generation portfolio.
The company’s net profit was boosted by a AU$268 million post-tax gain from the divestment of its 19.9 per cent stake in Tilt Renewables for AU$750 million.
Underlying net profit after tax (NPAT) stood at AU$631 million, down slightly by 2 per cent in fiscal 2025, while underlying EBITDA reached AU$2,100 million, matching market guidance.
Shareholders will receive a final fully franked dividend of 26 cents per share, bringing the total dividend payout to 50 cents per share.
AGL CEO Damien Nicks said the integrated business model helped mitigate softer wholesale market conditions driven by lower volatility, milder weather, and strong renewable generation across the National Electricity Market.
“We’ve had another strong year of strategic execution as we continue to deliver our strategy for long-term value creation, while strengthening the resilience, flexibility and optionality of the business through the energy transition,” Nicks said.
Operational availability across AGL’s generation fleet improved by 4.3 percentage points to 83.4 per cent, while its flexible asset capacity reached 8.7 GW.
Nicks highlighted the company’s moves to position itself ahead of the green energy transition. Operations commenced at the 500 MW Liddell Battery in July, with construction on the 500 MW Tomago Battery underway.
Customer services grew by 92,000 to 4.6 million, alongside the integration of the Ampol Energy portfolio. The company also continued its portfolio simplification with its divestment of its telecommunications business to Aussie Broadband for AU$115 million in shares.
“We are very well positioned with the scale, maturity and quality of our development pipeline, providing significant optionality to prioritise and execute projects that deliver the strongest strategic fit and risk-adjusted returns.”
Looking ahead, AGL provided fiscal 2027 guidance targeting underlying EBITDA between AU$1,900 million and AU$2,200 million, and underlying NPAT between AU$470 million and AU$670 million.
Earnings are expected to reflect a full year of operation from the Liddell Battery and AU$50 million in net operating cost reductions, balanced against lower wholesale electricity prices and higher gas procurement costs.
