AGL is held across the Active Income and more recently, the Active Growth portfolios, and this morning they reported FY24 results that were a slight beat on FY24 expectations, while the guidance for FY25 was also mildly ahead of expectations.
- Underlying profit of $812 million was up from $281 million in FY23 and compared nicely to consensus of $795.7 million./ ~2% beat
- Underlying Ebitda of $2.22 billion up 63% y/y vs $2.17 billion consensus / 2.3% beat
- Final dividend per share A$0.350 vs. A$0.230 y/
For FY25, they have guided to;
- Underlying profit $530 million to $730 million / market was at $630 million already
- Sees underlying Ebitda $1.87 billion to $2.17 billion / market was at $1.95 billion, implying a 3.5% beat at the midpoint.
This is a good result, solid guidance while they’ve also announced a $250m acquisition of Firm Power and Terrain Solar, with more details provided on these later.
MM remains bullish & long AGL
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