• Underlying EBITDA up 9.1% to $1,015 million
• Total statutory revenue (excluding pass-through) up 7.1% to $1,364 million
• Free Cash Flow of $552 million, growth of 3.6% compared to 1H24

APA Group (ASX:APA) today announces its financial results for the half-year ending 31 December 2024 (1H25), delivering strong growth in earnings and ongoing growth in free cash flow and distributions, compared to 1H24. Higher 1H25 earnings were driven by strong contributions from the Pilbara Energy System business, higher variable revenue, inflation-linked tariff escalations and cost growth below inflation. Key highlights include: Underlying EBITDA up 9.1% to $1,015 million, total statutory revenue (excluding pass-through) up 7.1% to $1,364 million, corporate cost growth reduced to below inflation, 1H25 distribution of 27.0 cents per security (up 1.9%), and Free Cash Flow of $552 million (growth of 3.6%). The result highlights the successful integration of the Pilbara business, with these new assets delivering $66 million in earnings for the half. APA's growth pipeline in the Pilbara also continued to progress, with construction of the Port Hedland Solar and Battery Project completed and the company awarded Priority Project status for two electricity transmission projects. APA also continued to progress growth in its core gas transmission and storage business, executing an agreement to build, own and operate the Sturt Plateau Pipeline and announcing plans to deliver material infrastructure capacity expansion in the East Coast Gas Grid.

FY25 distributions are expected to be 57.0 cents per security, an increase of 1.8% on FY24. Underlying EBITDA guidance is reaffirmed for FY25 to be $1,960 million - $2,020 million.

APA will continue to progress its growth plans with customers, demonstrating the continued delivery of strong earnings and distributions, alongside organic growth.