• Underlying EBITDA flat at $1,092 million, Underlying NPAT down 6% to $353 million
• Increased Customer Markets earnings due to improved margin and customer service growth
• Stronger fleet availability and battery performance helped mitigate lower market volatility

AGL Energy Limited reported its FY26 half-year results, reflecting strong operational and financial momentum across the business. Underlying EBITDA was flat at $1,092 million, while Underlying NPAT declined 6% to $353 million, impacted by increased depreciation and amortisation, and higher finance costs. The company's Customer Markets business recorded excellent growth in overall customer services, primarily led by energy services, including the acquisition of Ampol customers. Customer satisfaction also improved, with the score increasing to 83.8. On the generation side, the company delivered a stronger fleet availability result for the half, with higher commercial availability and improved plant flexibility allowing AGL to generate when market conditions were most favourable. The company's battery portfolio also continued to deliver excellent performance, with an EBITDA contribution of $35 million, $10 million higher than the prior half. AGL narrowed its FY26 financial guidance ranges, with Underlying EBITDA expected to be between $2,020 million and $2,180 million, and Underlying NPAT between $580 million and $680 million. The company also announced a long-term strategic partnership with Aussie Broadband, where AGL will divest its telecommunications business and Aussie Broadband will deliver telco services under the AGL brand, ensuring continuity for customers and creating a platform for shared growth.

FY26 Underlying EBITDA between $2,020 million and $2,180 million, Underlying NPAT between $580 million and $680 million. Targeting $50 million of sustainable net operating cost reductions in FY27.

AGL is well positioned to leverage the long-term trends in the energy market, including strong demand growth, increased market volatility, and the significant uptake of residential batteries. The company continues to make progress in transitioning its energy portfolio, with a growing development pipeline and investments in flexible, dispatchable capacity.