6 minute read

AGL reports 11% increase in Underlying Profit

Cathlin Thurbon
Cathlin Thurbon
10 August 2016

This morning AGL has released its FY2016 Financial Report, Directors’ Report and ASX Appendix 4E statement.

In releasing the results, AGL Managing Director & CEO, Andy Vesey, said:

“Our key generation assets, wholesale market operations and customer portfolios delivered a strong Underlying Profit result. This reflects our focus on operational execution and driving value through margin and cost discipline at the same time as we undertake the transformation of AGL. Today we have announced an indicative $300 million capital expenditure program over three years to drive the digital transformation of our customers’ experience. This is a key component of the delivery of our strategic framework to embrace transformation, drive productivity and unlock growth as the energy sector evolves.”

Result overview:

  • Revenue: $11,150 million, up 4.4 percent
  • Statutory loss after tax: $408 million, down $626 million
  • Statutory operating cash flow after tax: $1,186 million, up 13.6 percent
  • Underlying Profit after tax: $701 million, up 11.3 percent
  • Statutory earnings per share: (60.5) cents per share, down 93.8 cents per share
  • Underlying earnings per share: 103.9 cents per share, up 7.5 cents per share
  • Underlying operating cash flow: $1,588 million, up 4.0 percent
  • Final dividend: 36.0 cents per share (100 percent franked)

Read more in our media release.