Amplitude Energy has reported record full-year production, revenue, and underlying cash flows for the fiscal year ended June 30, while setting a robust guidance target for fiscal 2027.
Underpinned by strong debottlenecking operations at its Gippsland Basin asset, Amplitude recorded a 3 per cent increase in full-year production to 27.6 Petajoules-equivalent (PJe).
Total sales revenue surged 7 per cent to a record AU$285.8 million, driven by higher realised gas prices averaging AU$10.36/GJ.
The company delivered an underlying earnings increase of 12 per cent to a new record AU$191.8 million. The result was driven by higher revenue and strong cost control, demonstrating strong operating leverage and margin expansion.
Underlying profit after tax came in at AU$45 million, up sharply from AU$9.1 million in FY25. Adjusted operational cash flow also reached a record AU$191 million, expanding cash reserves to AU$137.5 million and reducing net debt to AU$37.6 million.
“Amplitude Energy has delivered record financial results for the third consecutive year,” said CEO Jane Norman, highlighting the performance of the Orbost Gas Processing Plant, which exceeded daily production rates above 70 TJ/d.
Looking ahead, Amplitude issued FY27 production guidance between 26.6 and 28.5 PJe. Production expenses are guided at $58 million to $64 million, with other cash expenses estimated between $27 million and $31 million.
Capital expenditure for fiscal 2027 is projected to rise significantly to AU$250 million to AU$310 million as the company advances its core growth driver, the East Coast Supply Project (ECSP).
The increased spend reflects drilling activities at the Juliet exploration well, the Annie development well, and subsea long-lead development items, targeting first gas in CY2028.
A final investment decision for the ECSP development phase is expected in the coming months.
“We are on track to achieve transformational growth through the East Coast Supply Project, one of the most significant sources of new domestic gas supply currently being advanced in south-east Australia,” the CEO said.
Norman noted that strong base business cash generation will directly fund near-term drilling and growth programs, maintaining a balance between near-term operational cash flow and long-term project development.
